Fabrinet (NYSE:FN) Given Consensus Rating of “Hold” by Brokerages

Shares of Fabrinet (NYSE:FN) have been assigned an average recommendation of “Hold” from the seven ratings firms that are currently covering the company, 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 target price among analysts that have covered the stock in the last year is $219.00.

A number of brokerages have recently weighed in on FN. Needham & Company LLC increased their target price on Fabrinet from $270.00 to $280.00 and gave the stock a “buy” rating in a research note on Tuesday, August 20th. B. Riley lifted their target price on Fabrinet from $171.00 to $196.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. Rosenblatt Securities boosted their target price on shares of Fabrinet from $260.00 to $280.00 and gave the company a “buy” rating in a research report on Tuesday, August 20th. Finally, JPMorgan Chase & Co. raised their price target on shares of Fabrinet from $240.00 to $285.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th.

Fabrinet Price Performance

FN stock opened at $250.68 on Thursday. The stock has a market cap of $9.06 billion, a price-to-earnings ratio of 33.29 and a beta of 0.95. The company has a fifty day moving average price of $239.97 and a two-hundred day moving average price of $229.28. Fabrinet has a one year low of $149.19 and a one year high of $278.38.

Fabrinet (NYSE:FN) last announced its earnings results on Monday, August 19th. The technology company reported $2.41 EPS for the quarter, topping the consensus estimate of $2.06 by $0.35. The business had revenue of $753.26 million during the quarter, compared to the consensus estimate of $732.63 million. Fabrinet had a net margin of 10.27% and a return on equity of 18.10%. Fabrinet’s revenue was up 14.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.68 EPS. Research analysts anticipate that Fabrinet will post 9.11 EPS for the current fiscal year.

Insider Buying and Selling

In other Fabrinet news, CFO Csaba Sverha sold 9,288 shares of the stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $270.08, for a total transaction of $2,508,503.04. Following the sale, the chief financial officer now directly owns 19,768 shares in the company, valued at $5,338,941.44. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Fabrinet news, EVP Edward T. Archer sold 8,690 shares of the business’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $220.26, for a total transaction of $1,914,059.40. Following the completion of the transaction, the executive vice president now owns 8,333 shares of the company’s stock, valued at approximately $1,835,426.58. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Csaba Sverha sold 9,288 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $270.08, for a total transaction of $2,508,503.04. Following the completion of the sale, the chief financial officer now owns 19,768 shares in the company, valued at approximately $5,338,941.44. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 44,728 shares of company stock worth $11,645,062. Company insiders own 0.51% of the company’s stock.

Hedge Funds Weigh In On Fabrinet

A number of institutional investors have recently added to or reduced their stakes in FN. Opal Wealth Advisors LLC bought a new position in Fabrinet in the second quarter valued at about $28,000. Banque Cantonale Vaudoise bought a new position in Fabrinet in the 2nd quarter valued at approximately $35,000. Kimelman & Baird LLC acquired a new stake in Fabrinet during the 2nd quarter worth approximately $49,000. NBC Securities Inc. grew its holdings in Fabrinet by 732.0% during the 3rd quarter. NBC Securities Inc. now owns 208 shares of the technology company’s stock worth $49,000 after acquiring an additional 183 shares during the last quarter. Finally, UMB Bank n.a. increased its position in Fabrinet by 252.9% in the 3rd quarter. UMB Bank n.a. now owns 240 shares of the technology company’s stock valued at $57,000 after acquiring an additional 172 shares during the period. 97.38% of the stock is currently owned by institutional investors and hedge funds.

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.