Fabrinet (NYSE:FN) Given Consensus Recommendation of “Hold” by Analysts

Shares of Fabrinet (NYSE:FN) have earned a consensus rating of “Hold” from the seven analysts that are covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. The average 12-month price target among analysts that have covered the stock in the last year is $252.14.

Several research analysts recently issued reports on the stock. Barclays initiated coverage on shares of Fabrinet in a research note on Thursday, November 14th. They issued an “equal weight” rating and a $292.00 price target for the company. B. Riley downgraded shares of Fabrinet from a “neutral” rating to a “sell” rating and decreased their target price for the company from $194.00 to $178.00 in a research note on Wednesday, November 20th. Finally, Needham & Company LLC started coverage on Fabrinet in a research note on Tuesday, November 5th. They issued a “buy” rating and a $280.00 price target on the stock.

Hedge Funds Weigh In On Fabrinet

A number of hedge funds have recently bought and sold shares of the business. Nordea Investment Management AB increased its position in Fabrinet by 4.3% during the fourth quarter. Nordea Investment Management AB now owns 42,892 shares of the technology company’s stock valued at $9,292,000 after acquiring an additional 1,784 shares during the last quarter. Everence Capital Management Inc. bought a new position in shares of Fabrinet in the 4th quarter worth approximately $202,000. GAMMA Investing LLC boosted its holdings in shares of Fabrinet by 11.5% in the fourth quarter. GAMMA Investing LLC now owns 929 shares of the technology company’s stock worth $204,000 after buying an additional 96 shares during the last quarter. JPMorgan Chase & Co. grew its position in Fabrinet by 3.8% during the third quarter. JPMorgan Chase & Co. now owns 660,401 shares of the technology company’s stock valued at $156,145,000 after buying an additional 24,439 shares during the period. Finally, Principal Financial Group Inc. increased its holdings in Fabrinet by 18.5% during the third quarter. Principal Financial Group Inc. now owns 227,300 shares of the technology company’s stock valued at $53,743,000 after buying an additional 35,504 shares during the last quarter. Hedge funds and other institutional investors own 97.38% of the company’s stock.

Fabrinet Trading Up 1.3 %

Shares of NYSE FN opened at $232.72 on Tuesday. The firm has a fifty day simple moving average of $236.43 and a two-hundred day simple moving average of $236.29. The firm has a market capitalization of $8.44 billion, a PE ratio of 27.54 and a beta of 0.92. Fabrinet has a 12 month low of $159.69 and a 12 month high of $278.38.

Fabrinet (NYSE:FN) last posted its quarterly earnings data on Monday, November 4th. The technology company reported $2.39 earnings per share for the quarter, beating the consensus estimate of $2.38 by $0.01. The business had revenue of $804.20 million for the quarter, compared to analysts’ expectations of $771.24 million. Fabrinet had a return on equity of 18.08% and a net margin of 10.28%. The business’s revenue was up 17.3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.78 EPS. On average, sell-side analysts predict that Fabrinet will post 9.1 earnings per share for the current 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.