Fabrinet (NYSE:FN) Receives $252.14 Consensus Price Target from Analysts

Fabrinet (NYSE:FN - Get Free Report) has earned an average recommendation of "Hold" from the seven analysts that are presently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $252.14.

Several research analysts have weighed in on FN shares. Barclays started coverage on shares of Fabrinet in a report on Thursday, November 14th. They issued an "equal weight" rating and a $292.00 price target on the stock. Rosenblatt Securities increased their target price on Fabrinet from $260.00 to $280.00 and gave the stock a "buy" rating in a research note on Tuesday, August 20th. B. Riley downgraded Fabrinet from a "neutral" rating to a "sell" rating and reduced their price target for the company from $194.00 to $178.00 in a research note on Wednesday, November 20th. JPMorgan Chase & Co. upped their price objective on Fabrinet from $240.00 to $285.00 and gave the company a "neutral" rating in a report on Tuesday, August 20th. Finally, Needham & Company LLC initiated coverage on Fabrinet in a report on Tuesday, November 5th. They set a "buy" rating and a $280.00 target price for the company.

Fabrinet Stock Up 0.8 %

Shares of NYSE FN traded up $1.94 during midday trading on Friday, hitting $247.76. 358,451 shares of the company's stock were exchanged, compared to its average volume of 495,274. The firm has a market capitalization of $8.99 billion, a PE ratio of 29.37 and a beta of 0.92. Fabrinet has a 12 month low of $159.69 and a 12 month high of $278.38. The company's 50 day moving average price is $244.91 and its 200 day moving average price is $238.20.

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

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Huntington National Bank increased its stake in Fabrinet by 70.4% in the third quarter. Huntington National Bank now owns 138 shares of the technology company's stock valued at $33,000 after acquiring an additional 57 shares during the last quarter. Banque Cantonale Vaudoise acquired a new stake in shares of Fabrinet in the 2nd quarter valued at $35,000. Kimelman & Baird LLC bought a new position in shares of Fabrinet in the 2nd quarter valued at $49,000. NBC Securities Inc. raised its holdings in shares of Fabrinet by 732.0% during the 3rd quarter. NBC Securities Inc. now owns 208 shares of the technology company's stock worth $49,000 after buying an additional 183 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Fabrinet during the 3rd quarter worth $52,000. Institutional investors own 97.38% of the company's stock.

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.