Brokerages Set Fabrinet (NYSE:FN) Price Target at $159.57

Shares of Fabrinet (NYSE:FN) have earned an average recommendation of “Moderate Buy” from the seven ratings firms that are covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $159.57.

FN has been the subject of several research analyst reports. Northland Securities upgraded shares of Fabrinet from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $200.00 to $220.00 in a report on Thursday, March 21st. Rosenblatt Securities restated a “buy” rating and issued a $230.00 target price on shares of Fabrinet in a research note on Tuesday, February 6th. JPMorgan Chase & Co. upped their price target on Fabrinet from $210.00 to $212.00 and gave the stock a “neutral” rating in a research note on Thursday, April 11th. Finally, Needham & Company LLC decreased their price objective on Fabrinet from $230.00 to $220.00 and set a “buy” rating for the company in a report on Friday, March 22nd.

Insider Buying and Selling

In other news, Director Rollance E. Olson sold 10,000 shares of the stock in a transaction on Monday, February 12th. The stock was sold at an average price of $205.52, for a total value of $2,055,200.00. Following the sale, the director now directly owns 25,981 shares of the company’s stock, valued at $5,339,615.12. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.51% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in FN. Park Place Capital Corp purchased a new position in shares of Fabrinet in the fourth quarter worth $26,000. Salem Investment Counselors Inc. purchased a new position in Fabrinet in the 4th quarter worth about $29,000. GAMMA Investing LLC bought a new position in Fabrinet during the 4th quarter valued at about $34,000. Parallel Advisors LLC lifted its stake in Fabrinet by 59.7% during the 4th quarter. Parallel Advisors LLC now owns 206 shares of the technology company’s stock valued at $39,000 after acquiring an additional 77 shares during the period. Finally, Orion Capital Management LLC purchased a new stake in shares of Fabrinet during the 3rd quarter valued at about $47,000. Institutional investors own 97.38% of the company’s stock.

Fabrinet Stock Up 2.9 %

Shares of FN stock opened at $179.22 on Thursday. The firm has a market capitalization of $6.51 billion, a price-to-earnings ratio of 25.90 and a beta of 1.04. The stock has a fifty day moving average of $189.84 and a 200 day moving average of $185.13. Fabrinet has a 52 week low of $90.19 and a 52 week high of $229.02.

Fabrinet (NYSE:FN) last issued its quarterly earnings data on Monday, February 5th. The technology company reported $1.89 EPS for the quarter, topping the consensus estimate of $1.84 by $0.05. The business had revenue of $712.69 million during the quarter, compared to analyst estimates of $699.76 million. Fabrinet had a net margin of 9.35% and a return on equity of 17.27%. Equities research analysts anticipate that Fabrinet will post 7.59 earnings per share for the current year.

About Fabrinet

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.