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

Shares of Fabrinet (NYSE:FN) have been assigned a consensus recommendation of “Hold” from the eight brokerages that are currently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $246.63.

FN has been the subject of a number of research reports. JPMorgan Chase & Co. decreased their target price on shares of Fabrinet from $275.00 to $265.00 and set a “neutral” rating for the company in a research note on Tuesday, February 4th. Rosenblatt Securities boosted their target price on shares of Fabrinet from $280.00 to $285.00 and gave the company a “buy” rating in a research note on Tuesday, February 4th. 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 target price for the company. Needham & Company LLC restated a “buy” rating and issued a $280.00 price objective on shares of Fabrinet in a research note on Tuesday, February 4th. Finally, Barclays reduced their price objective on Fabrinet from $292.00 to $245.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 4th.

Fabrinet Stock Down 4.8 %

Shares of NYSE FN opened at $204.10 on Wednesday. Fabrinet has a twelve month low of $159.69 and a twelve month high of $281.79. The firm has a market cap of $7.40 billion, a P/E ratio of 22.83 and a beta of 0.92. The company has a 50 day moving average of $225.76 and a 200 day moving average of $234.69.

Fabrinet (NYSE:FN) last announced its earnings results on Monday, February 3rd. The technology company reported $2.38 earnings per share for the quarter, missing analysts’ consensus estimates of $2.48 by ($0.10). Fabrinet had a net margin of 10.44% and a return on equity of 18.48%. As a group, equities analysts expect that Fabrinet will post 9.4 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Cynosure Group LLC boosted its holdings in Fabrinet by 3.4% in the 3rd quarter. Cynosure Group LLC now owns 1,560 shares of the technology company’s stock worth $369,000 after buying an additional 51 shares during the period. Assetmark Inc. boosted its holdings in Fabrinet by 12.0% in the 4th quarter. Assetmark Inc. now owns 484 shares of the technology company’s stock worth $106,000 after buying an additional 52 shares during the period. Huntington National Bank boosted its holdings 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 buying an additional 57 shares during the period. CIBC Asset Management Inc boosted its holdings in Fabrinet by 5.7% in the 4th quarter. CIBC Asset Management Inc now owns 1,113 shares of the technology company’s stock worth $245,000 after buying an additional 60 shares during the period. Finally, Nations Financial Group Inc. IA ADV boosted its holdings in Fabrinet by 2.4% in the 4th quarter. Nations Financial Group Inc. IA ADV now owns 2,941 shares of the technology company’s stock worth $647,000 after buying an additional 68 shares during the period. Institutional investors own 97.38% of the company’s stock.

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.