Fabrinet (NYSE:FN) Given New $265.00 Price Target at JPMorgan Chase & Co.

Fabrinet (NYSE:FN - Get Free Report) had its price target cut by stock analysts at JPMorgan Chase & Co. from $275.00 to $265.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has a "neutral" rating on the technology company's stock. JPMorgan Chase & Co.'s price objective would suggest a potential upside of 24.75% from the company's previous close.

A number of other research analysts have also recently commented on the company. B. Riley cut Fabrinet from a "neutral" rating to a "sell" rating and reduced their price objective for the stock from $194.00 to $178.00 in a research note on Wednesday, November 20th. Barclays reduced their price target on Fabrinet from $292.00 to $245.00 and set an "equal weight" rating on the stock in a research report on Tuesday. Needham & Company LLC reaffirmed a "buy" rating and issued a $280.00 price objective on shares of Fabrinet in a research report on Tuesday. Finally, Rosenblatt Securities lifted their price objective on shares of Fabrinet from $280.00 to $285.00 and gave the company a "buy" rating in a research note on Tuesday. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, Fabrinet presently has an average rating of "Hold" and an average price target of $243.29.

Fabrinet Stock Performance

FN traded down $8.41 on Tuesday, reaching $212.43. 714,432 shares of the company's stock were exchanged, compared to its average volume of 756,171. The company has a market cap of $7.70 billion, a price-to-earnings ratio of 25.14 and a beta of 0.92. Fabrinet has a twelve month low of $159.69 and a twelve month high of $281.79. The company's 50 day moving average is $230.11 and its 200-day moving average is $233.94.

Fabrinet (NYSE:FN - Get Free Report) last released its quarterly earnings data 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 18.08% and a net margin of 10.28%. Sell-side analysts forecast that Fabrinet will post 9.1 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Wellington Management Group LLP lifted its holdings in Fabrinet by 1.7% during the 3rd quarter. Wellington Management Group LLP now owns 1,169,162 shares of the technology company's stock worth $276,437,000 after buying an additional 19,677 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Fabrinet by 7.6% during the 3rd quarter. Geode Capital Management LLC now owns 986,813 shares of the technology company's stock valued at $233,359,000 after acquiring an additional 69,554 shares in the last quarter. Whale Rock Capital Management LLC raised its position in shares of Fabrinet by 25.8% during the 3rd quarter. Whale Rock Capital Management LLC now owns 855,767 shares of the technology company's stock valued at $202,338,000 after acquiring an additional 175,684 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Fabrinet by 3.8% during the third quarter. JPMorgan Chase & Co. now owns 660,401 shares of the technology company's stock worth $156,145,000 after purchasing an additional 24,439 shares during the last quarter. Finally, Baillie Gifford & Co. boosted its holdings in Fabrinet by 10.7% in the fourth quarter. Baillie Gifford & Co. now owns 553,038 shares of the technology company's stock worth $121,602,000 after purchasing an additional 53,250 shares during the period. 97.38% of the stock is currently owned by institutional investors.

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.