Brokerages Set Fabrinet (NYSE:FN) PT at $254.43

Shares of Fabrinet (NYSE:FN - Get Free Report) have been assigned a consensus recommendation of "Hold" from the seven brokerages that are covering the stock, Marketbeat reports. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $254.43.

FN has been the topic of a number of recent research reports. B. Riley lowered their target price on Fabrinet from $196.00 to $194.00 and set a "neutral" rating on the stock in a research note on Tuesday, November 5th. Rosenblatt Securities increased their price objective on Fabrinet from $260.00 to $280.00 and gave the company a "buy" rating in a research report on Tuesday, August 20th. JPMorgan Chase & Co. boosted their target price on shares of Fabrinet from $240.00 to $285.00 and gave the stock a "neutral" rating in a research report on Tuesday, August 20th. Barclays assumed coverage on shares of Fabrinet in a report on Thursday. They issued an "equal weight" rating and a $292.00 price target for the company. Finally, Needham & Company LLC assumed coverage on shares of Fabrinet in a report on Tuesday, November 5th. They set a "buy" rating and a $280.00 price objective on the stock.

Fabrinet Stock Performance

Shares of NYSE:FN traded down $2.59 during mid-day trading on Monday, hitting $232.26. The stock had a trading volume of 359,221 shares, compared to its average volume of 490,956. The company's 50 day moving average is $242.35 and its 200-day moving average is $236.47. Fabrinet has a 12-month low of $159.30 and a 12-month high of $278.38. The company has a market cap of $8.42 billion, a PE ratio of 27.59 and a beta of 0.95.

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

Insider Activity

In related news, EVP Edward T. Archer sold 8,690 shares of the stock in a transaction that occurred 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 sale, the executive vice president now directly owns 8,333 shares in the company, valued at $1,835,426.58. This represents a 51.05 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Csaba Sverha sold 9,288 shares of the firm's stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $270.08, for a total value of $2,508,503.04. Following the sale, the chief financial officer now directly owns 19,768 shares of the company's stock, valued at $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. In the last three months, insiders have sold 44,728 shares of company stock worth $11,645,062. Corporate insiders own 0.38% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in FN. Opal Wealth Advisors LLC bought a new position in shares of Fabrinet in the second quarter worth about $28,000. Huntington National Bank raised its position in Fabrinet by 70.4% in the 3rd quarter. Huntington National Bank now owns 138 shares of the technology company's stock worth $33,000 after purchasing an additional 57 shares during the last quarter. Banque Cantonale Vaudoise bought a new position in Fabrinet in the 2nd quarter worth approximately $35,000. Kimelman & Baird LLC acquired a new position in Fabrinet during the 2nd quarter worth $49,000. Finally, NBC Securities Inc. increased 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 buying an additional 183 shares during the period. 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.