Barclays Begins Coverage on Fabrinet (NYSE:FN)

Barclays started coverage on shares of Fabrinet (NYSE:FN - Free Report) in a research report sent to investors on Thursday morning, Marketbeat Ratings reports. The brokerage issued an equal weight rating and a $292.00 price objective on the technology company's stock.

A number of other research firms also recently commented on FN. JPMorgan Chase & Co. increased their target price on Fabrinet from $240.00 to $285.00 and gave the stock a "neutral" rating in a report on Tuesday, August 20th. Needham & Company LLC started coverage on Fabrinet in a research note on Tuesday, November 5th. They set a "buy" rating and a $280.00 price objective on the stock. Rosenblatt Securities boosted their target price on shares of Fabrinet from $260.00 to $280.00 and gave the company a "buy" rating in a research note on Tuesday, August 20th. Finally, B. Riley dropped their target price on shares of Fabrinet from $196.00 to $194.00 and set a "neutral" rating on the stock in a report on Tuesday, November 5th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $254.43.

Fabrinet Stock Up 0.0 %

Shares of Fabrinet stock traded up $0.02 during trading hours on Thursday, hitting $252.02. 372,385 shares of the company's stock traded hands, compared to its average volume of 490,178. Fabrinet has a twelve month low of $159.30 and a twelve month high of $278.38. The stock has a 50 day simple moving average of $241.33 and a 200-day simple moving average of $235.06. The company has a market cap of $9.14 billion, a PE ratio of 29.73 and a beta of 0.95.

Fabrinet (NYSE:FN - Get Free Report) last posted its quarterly earnings data on Monday, November 4th. The technology company reported $2.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.38 by $0.01. The company had revenue of $804.20 million for the quarter, compared to the consensus estimate of $771.24 million. Fabrinet had a return on equity of 18.08% and a net margin of 10.28%. Fabrinet's revenue for the quarter was up 17.3% compared to the same quarter last year. During the same period in the previous year, the business earned $1.78 EPS. As a group, equities research analysts predict that Fabrinet will post 9.1 EPS for the current year.

Insider Activity

In other news, EVP Edward T. Archer sold 8,690 shares of the firm's stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $220.26, for a total transaction of $1,914,059.40. Following the transaction, the executive vice president now directly owns 8,333 shares of the company's stock, valued at approximately $1,835,426.58. This trade represents a 51.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Csaba Sverha sold 9,288 shares of Fabrinet stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $270.08, for a total transaction of $2,508,503.04. Following the sale, the chief financial officer now owns 19,768 shares in the company, valued at approximately $5,338,941.44. This represents a 31.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 44,728 shares of company stock valued at $11,645,062. 0.38% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Fabrinet

Several large investors have recently bought and sold shares of FN. Opal Wealth Advisors LLC acquired a new stake in shares of Fabrinet in the second quarter valued at $28,000. Huntington National Bank raised its position in Fabrinet by 70.4% in the third quarter. Huntington National Bank now owns 138 shares of the technology company's stock worth $33,000 after acquiring an additional 57 shares in the last quarter. Banque Cantonale Vaudoise acquired a new stake in Fabrinet in the 2nd quarter valued at about $35,000. Kimelman & Baird LLC bought a new position in shares of Fabrinet during the 2nd quarter valued at about $49,000. Finally, NBC Securities Inc. grew its stake in shares of Fabrinet by 732.0% in the 3rd quarter. NBC Securities Inc. now owns 208 shares of the technology company's stock worth $49,000 after purchasing an additional 183 shares during the last quarter. Institutional investors and hedge funds 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.