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

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

A number of other research analysts have also commented on FN. Barclays lowered their price objective on shares of Fabrinet from $292.00 to $245.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 4th. B. Riley lowered shares of Fabrinet from a “neutral” rating to a “sell” rating and lowered their price objective for the company from $194.00 to $178.00 in a research note on Wednesday, November 20th. Rosenblatt Securities reiterated a “buy” rating and set a $285.00 price objective on shares of Fabrinet in a research note on Friday, March 14th. Fox Advisors began coverage on shares of Fabrinet in a research note on Tuesday, February 18th. They set an “overweight” rating and a $270.00 price objective on the stock. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Fabrinet from $275.00 to $265.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 4th. One analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $246.63.

Fabrinet Trading Up 1.0 %

Shares of NYSE:FN opened at $225.07 on Monday. The firm’s 50 day moving average is $218.92 and its two-hundred day moving average is $230.45. Fabrinet has a 52 week low of $159.69 and a 52 week high of $281.79. The firm has a market capitalization of $8.16 billion, a P/E ratio of 25.18 and a beta of 0.89.

Fabrinet (NYSE:FN) last announced its quarterly earnings results on Monday, February 3rd. The technology company reported $2.38 EPS 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%. Analysts predict that Fabrinet will post 9.4 EPS for the current year.

Institutional Trading of Fabrinet

A number of large investors have recently added to or reduced their stakes in the business. Huntington National Bank boosted its stake in Fabrinet by 70.4% in 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. Point72 Asia Singapore Pte. Ltd. acquired a new position in Fabrinet in the 3rd quarter worth approximately $52,000. Quarry LP boosted its stake in Fabrinet by 315.8% in the 4th quarter. Quarry LP now owns 237 shares of the technology company’s stock worth $52,000 after purchasing an additional 180 shares during the period. Public Employees Retirement System of Ohio acquired a new position in Fabrinet in the 3rd quarter worth approximately $61,000. Finally, Orion Capital Management LLC acquired a new position in Fabrinet in the 4th quarter worth approximately $62,000. 97.38% of the stock is currently owned by institutional investors.

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.