Fabrinet (NYSE:FN) Given Consensus Recommendation of "Hold" by Brokerages

Shares of Fabrinet (NYSE:FN - Get Free Report) have earned an average rating of "Hold" from the eight analysts that are currently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating on the company. The average 1 year target price among brokers that have covered the stock in the last year is $246.63.

FN has been the subject of a number of research reports. JPMorgan Chase & Co. dropped their price target on Fabrinet from $275.00 to $265.00 and set a "neutral" rating for the company in a research note on Tuesday, February 4th. B. Riley lowered Fabrinet from a "neutral" rating to a "sell" rating and dropped their price target for the company from $194.00 to $178.00 in a research note on Wednesday, November 20th. Needham & Company LLC reissued a "buy" rating and set a $280.00 price target on shares of Fabrinet in a research note on Tuesday, February 4th. Rosenblatt Securities increased their price target on Fabrinet from $280.00 to $285.00 and gave the company a "buy" rating in a research note on Tuesday, February 4th. Finally, Fox Advisors initiated coverage on Fabrinet in a research note on Tuesday, February 18th. They set an "overweight" rating and a $270.00 price target for the company.

Institutional Investors Weigh In On Fabrinet

Several institutional investors have recently modified their holdings of the stock. Cynosure Group LLC lifted 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 purchasing an additional 51 shares during the last quarter. Assetmark Inc. lifted its stake 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 acquiring an additional 52 shares during the last quarter. Huntington National Bank lifted its stake 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 acquiring an additional 57 shares during the last quarter. CIBC Asset Management Inc lifted its stake 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 acquiring an additional 60 shares during the last quarter. Finally, Nations Financial Group Inc. IA ADV lifted its stake 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 acquiring an additional 68 shares during the last quarter. 97.38% of the stock is owned by institutional investors.

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Fabrinet Price Performance

Shares of NYSE:FN traded up $3.97 during trading on Wednesday, hitting $199.19. 760,426 shares of the company's stock were exchanged, compared to its average volume of 713,793. Fabrinet has a 52-week low of $159.69 and a 52-week high of $281.79. The business's 50-day simple moving average is $223.90 and its 200 day simple moving average is $234.20. The company has a market cap of $7.22 billion, a price-to-earnings ratio of 22.28 and a beta of 0.92.

Fabrinet (NYSE:FN - Get Free Report) last released its earnings results on Monday, February 3rd. The technology company reported $2.38 earnings per share (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, sell-side analysts anticipate that Fabrinet will post 9.4 EPS for the current fiscal 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.