Fabrinet (NYSE:FN) Receives $250.14 Consensus Price Target from Brokerages

Fabrinet (NYSE:FN) has been assigned an average rating of “Hold” from the seven analysts that are presently covering the firm, Marketbeat reports. Four research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $243.71.

Several equities research analysts recently issued reports on FN shares. Barclays reduced their target price on shares of Fabrinet from $292.00 to $245.00 and set an “equal weight” rating for the company in a report on Tuesday, February 4th. Fox Advisors initiated coverage on shares of Fabrinet in a research report on Tuesday, February 18th. They set an “overweight” rating and a $270.00 price objective on the stock. JPMorgan Chase & Co. dropped their target price on shares of Fabrinet from $265.00 to $220.00 and set a “neutral” rating for the company in a report on Thursday, April 17th. B. Riley raised Fabrinet from a “sell” rating to a “neutral” rating and decreased their price target for the company from $178.00 to $176.00 in a report on Friday, April 4th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $280.00 price objective on shares of Fabrinet in a research note on Monday, March 17th.

Hedge Funds Weigh In On Fabrinet

Several institutional investors have recently added to or reduced their stakes in FN. Assetmark Inc. boosted its position in shares of Fabrinet by 12.0% during the 4th quarter. Assetmark Inc. now owns 484 shares of the technology company’s stock valued at $106,000 after acquiring an additional 52 shares during the last quarter. CIBC Asset Management Inc lifted its position in Fabrinet by 5.7% during the fourth quarter. CIBC Asset Management Inc now owns 1,113 shares of the technology company’s stock valued at $245,000 after purchasing an additional 60 shares during the last quarter. Nations Financial Group Inc. IA ADV increased its holdings in shares of Fabrinet by 2.4% in the 4th quarter. Nations Financial Group Inc. IA ADV now owns 2,941 shares of the technology company’s stock worth $647,000 after buying an additional 68 shares during the last quarter. State of Alaska Department of Revenue raised its position in shares of Fabrinet by 1.7% during the 1st quarter. State of Alaska Department of Revenue now owns 4,205 shares of the technology company’s stock valued at $830,000 after buying an additional 70 shares in the last quarter. Finally, Janney Montgomery Scott LLC grew its position in Fabrinet by 2.6% in the fourth quarter. Janney Montgomery Scott LLC now owns 3,279 shares of the technology company’s stock worth $721,000 after acquiring an additional 82 shares in the last quarter. Hedge funds and other institutional investors own 97.38% of the company’s stock.

Fabrinet Trading Down 5.7 %

FN opened at $173.20 on Thursday. Fabrinet has a 1-year low of $148.55 and a 1-year high of $281.79. The firm’s 50 day simple moving average is $202.73 and its two-hundred day simple moving average is $224.51. The company has a market capitalization of $6.21 billion, a PE ratio of 19.37 and a beta of 0.97.

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