Fabrinet's (FN) "Buy" Rating Reiterated at Rosenblatt Securities

Rosenblatt Securities reaffirmed their buy rating on shares of Fabrinet (NYSE:FN - Free Report) in a report published on Friday morning,Benzinga reports. They currently have a $285.00 price objective on the technology company's stock.

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 reduced their target price for the company from $194.00 to $178.00 in a research note on Wednesday, November 20th. Barclays reduced their target price on Fabrinet from $292.00 to $245.00 and set an "equal weight" rating on the stock in a research note on Tuesday, February 4th. Fox Advisors assumed coverage on Fabrinet in a research note on Tuesday, February 18th. They set an "overweight" rating and a $270.00 target price on the stock. Needham & Company LLC reissued a "buy" rating and set a $280.00 target price on shares of Fabrinet in a research note on Tuesday, February 4th. Finally, JPMorgan Chase & Co. reduced their target price on Fabrinet from $275.00 to $265.00 and set a "neutral" rating on the stock in a research note on Tuesday, February 4th. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Fabrinet has an average rating of "Hold" and a consensus price target of $246.63.

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Fabrinet Price Performance

Fabrinet stock traded up $1.32 during trading hours on Friday, reaching $222.73. The company had a trading volume of 640,783 shares, compared to its average volume of 547,146. The company has a 50-day moving average price of $219.21 and a 200 day moving average price of $230.63. The firm has a market cap of $8.08 billion, a price-to-earnings ratio of 24.91 and a beta of 0.89. Fabrinet has a 12-month low of $159.69 and a 12-month high of $281.79.

Fabrinet (NYSE:FN - Get Free Report) last announced 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, research analysts expect that Fabrinet will post 9.4 earnings per share for the current year.

Institutional Investors Weigh In On Fabrinet

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Assetmark Inc. boosted its holdings in Fabrinet by 468.4% in the third quarter. Assetmark Inc. now owns 432 shares of the technology company's stock worth $102,000 after acquiring an additional 356 shares in the last quarter. Aigen Investment Management LP bought a new stake in Fabrinet in the third quarter worth $442,000. KBC Group NV boosted its holdings in Fabrinet by 12.2% in the third quarter. KBC Group NV now owns 1,022 shares of the technology company's stock worth $242,000 after acquiring an additional 111 shares in the last quarter. Huntington National Bank boosted its holdings in Fabrinet by 70.4% in the third quarter. Huntington National Bank now owns 138 shares of the technology company's stock worth $33,000 after acquiring an additional 57 shares in the last quarter. Finally, Mutual of America Capital Management LLC boosted its holdings in Fabrinet by 43.4% in the third quarter. Mutual of America Capital Management LLC now owns 44,175 shares of the technology company's stock worth $10,445,000 after acquiring an additional 13,361 shares in the last quarter. 97.38% of the stock is owned by hedge funds and other institutional investors.

Fabrinet Company Profile

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.