Fabrinet (NYSE:FN) Receives Buy Rating from Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Fabrinet (NYSE:FNFree Report) 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 firms also recently commented on FN. Barclays cut their target price on shares of Fabrinet from $292.00 to $245.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 4th. Fox Advisors assumed coverage on shares of Fabrinet in a research report on Tuesday, February 18th. They issued an “overweight” rating and a $270.00 target price for the company. B. Riley downgraded shares of Fabrinet from a “neutral” rating to a “sell” rating and cut their target price for the stock from $194.00 to $178.00 in a research report on Wednesday, November 20th. JPMorgan Chase & Co. cut their target price on shares of Fabrinet from $275.00 to $265.00 and set a “neutral” rating for the company in a research report on Tuesday, February 4th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $285.00 target price on shares of Fabrinet in a research report on Friday. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $246.63.

Read Our Latest Analysis on FN

Fabrinet Stock Up 0.5 %

Shares of FN opened at $221.13 on Monday. The company has a market capitalization of $8.02 billion, a P/E ratio of 24.74 and a beta of 0.89. The firm has a 50 day moving average of $219.21 and a 200 day moving average of $230.63. Fabrinet has a twelve month low of $159.69 and a twelve month high of $281.79.

Fabrinet (NYSE:FNGet Free Report) last announced its quarterly earnings results on Monday, February 3rd. The technology company reported $2.38 earnings per share 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%. On average, sell-side analysts expect that Fabrinet will post 9.4 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Barclays PLC increased its holdings in shares of Fabrinet by 304.6% in the third quarter. Barclays PLC now owns 69,128 shares of the technology company’s stock valued at $16,345,000 after purchasing an additional 52,042 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Fabrinet by 14.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 480,550 shares of the technology company’s stock worth $113,621,000 after buying an additional 61,491 shares during the period. Dynamic Technology Lab Private Ltd purchased a new position in shares of Fabrinet during the third quarter worth $2,398,000. Pathstone Holdings LLC boosted its holdings in Fabrinet by 40.7% in the third quarter. Pathstone Holdings LLC now owns 8,219 shares of the technology company’s stock valued at $1,943,000 after purchasing an additional 2,378 shares during the period. Finally, Freedom Investment Management Inc. boosted its holdings in Fabrinet by 106.2% in the third quarter. Freedom Investment Management Inc. now owns 4,969 shares of the technology company’s stock valued at $1,175,000 after purchasing an additional 2,559 shares during the period. Institutional investors and hedge funds own 97.38% of the company’s stock.

About Fabrinet

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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.

Further Reading

Analyst Recommendations for Fabrinet (NYSE:FN)

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