Fabrinet (NYSE:FN) Coverage Initiated by Analysts at Fox Advisors

Equities researchers at Fox Advisors initiated coverage on shares of Fabrinet (NYSE:FN - Get Free Report) in a research report issued to clients and investors on Tuesday, MarketBeat reports. The firm set an "overweight" rating and a $270.00 price target on the technology company's stock. Fox Advisors' price target suggests a potential upside of 21.53% from the stock's current price.

Several other equities analysts have also recently issued reports on the company. B. Riley cut Fabrinet from a "neutral" rating to a "sell" rating and decreased their price objective for the company from $194.00 to $178.00 in a report on Wednesday, November 20th. Needham & Company LLC reissued a "buy" rating and issued a $280.00 price objective on shares of Fabrinet in a report on Tuesday, February 4th. Rosenblatt Securities boosted their price objective on Fabrinet from $280.00 to $285.00 and gave the company a "buy" rating in a report on Tuesday, February 4th. JPMorgan Chase & Co. decreased their price objective on Fabrinet from $275.00 to $265.00 and set a "neutral" rating for the company in a report on Tuesday, February 4th. Finally, Barclays decreased their price objective on Fabrinet from $292.00 to $245.00 and set an "equal weight" rating for the company in a report on Tuesday, February 4th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $246.63.

Fabrinet Price Performance

FN traded down $8.50 on Tuesday, reaching $222.17. 495,615 shares of the stock were exchanged, compared to its average volume of 717,445. The company's 50-day moving average price is $226.73 and its 200 day moving average price is $233.90. Fabrinet has a fifty-two week low of $159.69 and a fifty-two week high of $281.79. The firm has a market capitalization of $8.06 billion, a PE ratio of 24.85 and a beta of 0.92.

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

Hedge Funds Weigh In On Fabrinet

A number of large investors have recently bought and sold shares of the business. Orion Capital Management LLC acquired a new position in Fabrinet in the 4th quarter worth about $62,000. PharVision Advisers LLC purchased a new stake in Fabrinet during the 4th quarter worth approximately $221,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Fabrinet by 17.4% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 75,727 shares of the technology company's stock worth $16,651,000 after buying an additional 11,235 shares in the last quarter. Woodline Partners LP increased its stake in Fabrinet by 298.8% during the 4th quarter. Woodline Partners LP now owns 43,329 shares of the technology company's stock worth $9,527,000 after buying an additional 32,465 shares in the last quarter. Finally, Vident Advisory LLC increased its stake in Fabrinet by 154.4% during the 4th quarter. Vident Advisory LLC now owns 3,238 shares of the technology company's stock worth $712,000 after buying an additional 1,965 shares in 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.