Fabrinet (NYSE:FN – Get Free Report) has received a consensus recommendation of “Hold” from the seven ratings firms that are currently covering the company, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $219.00.
FN has been the topic of several research reports. Needham & Company LLC boosted their price objective on shares of Fabrinet from $270.00 to $280.00 and gave the stock a “buy” rating in a report on Tuesday, August 20th. Rosenblatt Securities lifted their price objective on Fabrinet from $260.00 to $280.00 and gave the stock a “buy” rating in a report on Tuesday, August 20th. Jefferies Financial Group started coverage on Fabrinet in a research report on Wednesday, June 26th. They issued a “hold” rating and a $230.00 target price for the company. B. Riley boosted their price target on shares of Fabrinet from $171.00 to $196.00 and gave the company a “neutral” rating in a report on Tuesday, August 20th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Fabrinet from $240.00 to $285.00 and gave the company a “neutral” rating in a research report on Tuesday, August 20th.
View Our Latest Stock Analysis on Fabrinet
Insider Activity at Fabrinet
Institutional Trading of Fabrinet
A number of hedge funds have recently modified their holdings of FN. TD Asset Management Inc lifted its holdings in Fabrinet by 216.1% during the first quarter. TD Asset Management Inc now owns 409,761 shares of the technology company’s stock worth $77,453,000 after acquiring an additional 280,145 shares in the last quarter. Epoch Investment Partners Inc. lifted its holdings in shares of Fabrinet by 291.0% during the 1st quarter. Epoch Investment Partners Inc. now owns 275,531 shares of the technology company’s stock valued at $52,081,000 after purchasing an additional 205,057 shares in the last quarter. Driehaus Capital Management LLC grew its position in shares of Fabrinet by 183.5% in the 2nd quarter. Driehaus Capital Management LLC now owns 277,978 shares of the technology company’s stock valued at $68,046,000 after purchasing an additional 179,943 shares during the period. Clearbridge Investments LLC bought a new stake in Fabrinet during the 2nd quarter worth approximately $27,911,000. Finally, Kennedy Capital Management LLC acquired a new stake in Fabrinet during the 1st quarter worth approximately $15,637,000. 97.38% of the stock is currently owned by institutional investors and hedge funds.
Fabrinet Stock Performance
Shares of NYSE FN opened at $246.65 on Thursday. The business’s 50-day simple moving average is $239.85 and its 200-day simple moving average is $226.95. Fabrinet has a 52 week low of $149.19 and a 52 week high of $278.38. The firm has a market cap of $8.92 billion, a price-to-earnings ratio of 32.76 and a beta of 0.95.
Fabrinet (NYSE:FN – Get Free Report) last released its earnings results on Monday, August 19th. The technology company reported $2.41 earnings per share for the quarter, topping analysts’ consensus estimates of $2.06 by $0.35. The firm had revenue of $753.26 million during the quarter, compared to analyst estimates of $732.63 million. Fabrinet had a net margin of 10.27% and a return on equity of 18.10%. The business’s revenue was up 14.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.68 EPS. As a group, equities research analysts forecast that Fabrinet will post 9.11 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.
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