Fabrinet (NYSE:FN) Earns Buy Rating from Rosenblatt Securities

Fabrinet (NYSE:FN)‘s stock had its “buy” rating reissued by investment analysts at Rosenblatt Securities in a research note issued on Friday,Benzinga reports. They presently have a $285.00 price objective on the technology company’s stock. Rosenblatt Securities’ price target points to a potential upside of 29.04% from the stock’s previous close.

Several other analysts also recently issued reports on the stock. Fox Advisors initiated coverage on shares of Fabrinet in a report on Tuesday, February 18th. They set an “overweight” rating and a $270.00 price objective for the company. B. Riley downgraded shares of Fabrinet from a “neutral” rating to a “sell” rating and decreased their price objective for the stock from $194.00 to $178.00 in a report on Wednesday, November 20th. Needham & Company LLC reaffirmed a “buy” rating and set a $280.00 price objective on shares of Fabrinet in a report on Tuesday, February 4th. Barclays decreased their price objective on shares of Fabrinet from $292.00 to $245.00 and set an “equal weight” rating for the company in a report on Tuesday, February 4th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Fabrinet from $275.00 to $265.00 and set a “neutral” rating for the company in a report on Tuesday, February 4th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $246.63.

Fabrinet Stock Down 1.3 %

FN stock opened at $220.85 on Friday. The company has a market capitalization of $8.01 billion, a price-to-earnings ratio of 24.70 and a beta of 0.89. Fabrinet has a 12 month low of $159.69 and a 12 month high of $281.79. The firm has a 50 day moving average of $219.44 and a two-hundred day moving average of $230.88.

Fabrinet (NYSE:FN) last posted its 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 return on equity of 18.48% and a net margin of 10.44%. On average, research analysts expect that Fabrinet will post 9.4 EPS for the current fiscal year.

Hedge Funds Weigh In On Fabrinet

A number of hedge funds have recently made changes to their positions in the business. Cynosure Group LLC raised its stake in shares of Fabrinet by 3.4% in the 3rd quarter. Cynosure Group LLC now owns 1,560 shares of the technology company’s stock valued at $369,000 after buying an additional 51 shares in the last quarter. Assetmark Inc. increased its position 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 in the last quarter. Huntington National Bank increased its position 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 in the last quarter. CIBC Asset Management Inc increased its position 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 in the last quarter. Finally, Nations Financial Group Inc. IA ADV increased its position 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 in the last quarter. Institutional investors and hedge funds own 97.38% of the company’s stock.

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.