Fabrinet’s (FN) Buy Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Fabrinet (NYSE:FN) in a research report sent to investors on Monday morning,Benzinga reports. Needham & Company LLC currently has a $280.00 price target on the technology company’s stock.

A number of other research analysts also recently weighed in on FN. Rosenblatt Securities restated a “buy” rating and set a $285.00 price target on shares of Fabrinet in a report on Friday, March 14th. Barclays cut their price target on shares of Fabrinet from $292.00 to $245.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 4th. Fox Advisors started coverage on shares of Fabrinet in a report on Tuesday, February 18th. They set an “overweight” rating and a $270.00 price target on the stock. JPMorgan Chase & Co. cut their price target 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. Finally, B. Riley downgraded shares of Fabrinet from a “neutral” rating to a “sell” rating and cut their price target for the company from $194.00 to $178.00 in a report on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $246.63.

Fabrinet Stock Up 1.0 %

Shares of NYSE:FN opened at $225.07 on Monday. The firm has a fifty day moving average of $218.92 and a two-hundred day moving average of $230.45. The firm has a market capitalization of $8.16 billion, a P/E ratio of 25.18 and a beta of 0.89. Fabrinet has a 12-month low of $159.69 and a 12-month high of $281.79.

Fabrinet (NYSE:FN) last issued 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%. Equities research analysts expect that Fabrinet will post 9.4 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Cynosure Group LLC increased its holdings in shares of Fabrinet by 3.4% during the 3rd quarter. Cynosure Group LLC now owns 1,560 shares of the technology company’s stock worth $369,000 after purchasing an additional 51 shares during the period. Assetmark Inc. increased its holdings in shares of Fabrinet by 12.0% during the 4th quarter. Assetmark Inc. now owns 484 shares of the technology company’s stock worth $106,000 after purchasing an additional 52 shares during the period. Huntington National Bank increased its holdings in shares of Fabrinet by 70.4% during the 3rd quarter. Huntington National Bank now owns 138 shares of the technology company’s stock worth $33,000 after purchasing an additional 57 shares during the period. CIBC Asset Management Inc increased its holdings in shares of Fabrinet by 5.7% during the 4th quarter. CIBC Asset Management Inc now owns 1,113 shares of the technology company’s stock worth $245,000 after purchasing an additional 60 shares during the period. Finally, Nations Financial Group Inc. IA ADV increased its holdings in shares of Fabrinet by 2.4% during the 4th quarter. Nations Financial Group Inc. IA ADV now owns 2,941 shares of the technology company’s stock worth $647,000 after purchasing an additional 68 shares during the period. Institutional investors own 97.38% of the company’s stock.

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.