Brokerages Set Fabrinet (NYSE:FN) Target Price at $250.43

Fabrinet (NYSE:FN) has received a consensus recommendation of “Hold” from the seven analysts that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $250.43.

Several analysts have recently weighed in on the stock. JPMorgan Chase & Co. lowered their target price on shares of Fabrinet from $275.00 to $265.00 and set a “neutral” rating on the stock in a report on Tuesday, February 4th. Needham & Company LLC reaffirmed a “buy” rating and issued a $280.00 price objective on shares of Fabrinet in a report on Monday, March 17th. Rosenblatt Securities reissued a “buy” rating and set a $285.00 target price on shares of Fabrinet in a research note on Friday, March 14th. Barclays reduced their price target on Fabrinet from $292.00 to $245.00 and set an “equal weight” rating for the company in a report on Tuesday, February 4th. Finally, Fox Advisors initiated coverage on Fabrinet in a report on Tuesday, February 18th. They set an “overweight” rating and a $270.00 price objective on the stock.

Fabrinet Stock Down 5.3 %

Shares of FN stock opened at $195.58 on Friday. The stock’s 50-day moving average price is $216.64 and its 200 day moving average price is $230.21. The stock has a market capitalization of $7.09 billion, a PE ratio of 21.88 and a beta of 0.89. Fabrinet has a 52-week low of $159.69 and a 52-week high of $281.79.

Fabrinet (NYSE:FN) last released its earnings results on Monday, February 3rd. The technology company reported $2.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.48 by ($0.10). Fabrinet had a net margin of 10.44% and a return on equity of 18.48%. Analysts expect that Fabrinet will post 9.4 earnings per share for the current fiscal year.

Institutional Trading of Fabrinet

Institutional investors have recently bought and sold shares of the company. Norges Bank purchased a new position in shares of Fabrinet during the 4th quarter worth approximately $95,084,000. Capital Research Global Investors grew its holdings in Fabrinet by 675.2% during the 4th quarter. Capital Research Global Investors now owns 417,020 shares of the technology company’s stock valued at $91,694,000 after buying an additional 363,228 shares during the last quarter. Wasatch Advisors LP increased its position in Fabrinet by 47.0% during the fourth quarter. Wasatch Advisors LP now owns 1,132,636 shares of the technology company’s stock worth $249,044,000 after buying an additional 362,064 shares in the last quarter. Wedge Capital Management L L P NC acquired a new position in shares of Fabrinet in the fourth quarter worth $63,222,000. Finally, FMR LLC lifted its position in shares of Fabrinet by 13.1% in the fourth quarter. FMR LLC now owns 2,213,887 shares of the technology company’s stock valued at $486,789,000 after acquiring an additional 257,164 shares in the last quarter. 97.38% of the stock is currently owned by hedge funds and other institutional investors.

Fabrinet Company Profile

Fabrinet provides optical packaging and precision optical, electro-mechanical, and electronic manufacturing services in North America, the Asia-Pacific, and Europe. The company offers a range of advanced optical and electro-mechanical capabilities in the manufacturing process, including process design and engineering, supply chain management, manufacturing, printed circuit board assembly, advanced packaging, integration, final assembly, and testing.