Fabrinet (NYSE:FN) Receives $252.14 Average PT from Analysts

Fabrinet (NYSE:FN - Get Free Report) has been given a consensus recommendation of "Hold" by the seven brokerages that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and three have given a buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $252.14.

Several equities research analysts recently issued reports on the stock. B. Riley lowered shares of Fabrinet from a "neutral" rating to a "sell" rating and reduced their price objective for the company from $194.00 to $178.00 in a research note on Wednesday, November 20th. Needham & Company LLC began coverage on Fabrinet in a research report on Tuesday, November 5th. They issued a "buy" rating and a $280.00 price target for the company. Finally, Barclays started coverage on Fabrinet in a report on Thursday, November 14th. They set an "equal weight" rating and a $292.00 price objective on the stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of FN. Huntington National Bank grew its stake in shares of Fabrinet by 70.4% in the 3rd quarter. Huntington National Bank now owns 138 shares of the technology company's stock valued at $33,000 after purchasing an additional 57 shares during the period. Kimelman & Baird LLC bought a new position in shares of Fabrinet during the second quarter valued at $49,000. NBC Securities Inc. boosted 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 valued at $49,000 after purchasing an additional 183 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Fabrinet in the 3rd quarter worth about $52,000. Finally, UMB Bank n.a. increased its position in shares of Fabrinet by 252.9% during the 3rd quarter. UMB Bank n.a. now owns 240 shares of the technology company's stock worth $57,000 after purchasing an additional 172 shares in the last quarter. 97.38% of the stock is currently owned by institutional investors and hedge funds.

Fabrinet Stock Performance

Shares of NYSE FN traded down $3.58 during mid-day trading on Tuesday, reaching $229.21. The company had a trading volume of 245,600 shares, compared to its average volume of 298,225. The stock's 50 day moving average is $236.17 and its 200-day moving average is $236.20. Fabrinet has a twelve month low of $159.69 and a twelve month high of $278.38. The stock has a market capitalization of $8.31 billion, a PE ratio of 27.13 and a beta of 0.93.

Fabrinet (NYSE:FN - Get Free Report) last announced its quarterly earnings results on Monday, November 4th. The technology company reported $2.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.38 by $0.01. Fabrinet had a return on equity of 18.08% and a net margin of 10.28%. The business had revenue of $804.20 million during the quarter, compared to analyst estimates of $771.24 million. During the same period in the previous year, the company earned $1.78 EPS. The firm's revenue was up 17.3% on a year-over-year basis. On average, sell-side analysts anticipate that Fabrinet will post 9.1 EPS 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.