JPMorgan Chase & Co. Boosts Fabrinet (NYSE:FN) Price Target to $212.00

Fabrinet (NYSE:FN) had its price objective boosted by JPMorgan Chase & Co. from $210.00 to $212.00 in a research report sent to investors on Thursday morning, Benzinga reports. The brokerage currently has a neutral rating on the technology company’s stock.

Several other analysts also recently commented on FN. Northland Securities raised 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 research report on Thursday, March 21st. Needham & Company LLC reduced their price objective on shares of Fabrinet from $230.00 to $220.00 and set a buy rating for the company in a research report on Friday, March 22nd. Finally, Rosenblatt Securities reaffirmed a buy rating and set a $230.00 price objective on shares of Fabrinet in a research report on Tuesday, February 6th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus target price of $159.57.

Fabrinet Stock Performance

NYSE:FN opened at $173.33 on Thursday. The company has a market capitalization of $6.29 billion, a PE ratio of 25.05 and a beta of 1.04. The company has a 50 day simple moving average of $197.90 and a two-hundred day simple moving average of $185.28. Fabrinet has a fifty-two week low of $90.19 and a fifty-two week high of $229.02.

Fabrinet (NYSE:FN) last announced 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 company had revenue of $712.69 million during the quarter, compared to the consensus estimate of $699.76 million. Fabrinet had a net margin of 9.35% and a return on equity of 17.27%. Research analysts predict that Fabrinet will post 7.64 EPS for the current year.

Insider Buying and Selling

In related 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 transaction, the director now directly owns 25,981 shares in the company, valued at approximately $5,339,615.12. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.51% of the stock is owned by company insiders.

Hedge Funds Weigh In On Fabrinet

Several large investors have recently bought and sold shares of FN. Park Place Capital Corp bought a new position in Fabrinet during the 4th quarter valued at $26,000. Salem Investment Counselors Inc. bought a new position in Fabrinet during the 4th quarter valued at $29,000. GAMMA Investing LLC bought a new position in Fabrinet during the 4th quarter valued at $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 in the last quarter. Finally, Federated Hermes Inc. lifted its stake in Fabrinet by 652.6% during the 3rd quarter. Federated Hermes Inc. now owns 429 shares of the technology company’s stock valued at $41,000 after acquiring an additional 372 shares in the last quarter. 97.38% of the stock is currently owned by 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.