Brokerages Set Fabrinet (NYSE:FN) PT at $250.43

Shares of Fabrinet (NYSE:FN - Get Free Report) have been assigned a consensus recommendation of "Hold" from the seven brokerages that are presently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and three have issued a buy recommendation on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $250.43.

Several equities research analysts have weighed in on FN shares. Needham & Company LLC reaffirmed a "buy" rating and issued a $280.00 price target on shares of Fabrinet in a research note on Monday, March 17th. Rosenblatt Securities reaffirmed a "buy" rating and issued a $285.00 target price on shares of Fabrinet in a research report on Friday, March 14th. Fox Advisors initiated coverage on Fabrinet in a report on Tuesday, February 18th. They issued an "overweight" rating and a $270.00 price target on the stock. 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 cut their target price on Fabrinet from $292.00 to $245.00 and set an "equal weight" rating on the stock in a report on Tuesday, February 4th.

Fabrinet Stock Down 6.1 %

Fabrinet stock traded down $13.68 during trading hours on Friday, reaching $208.94. 627,056 shares of the company's stock were exchanged, compared to its average volume of 773,803. The firm's 50 day simple moving average is $218.64 and its 200 day simple moving average is $230.46. Fabrinet has a twelve month low of $159.69 and a twelve month high of $281.79. The firm has a market capitalization of $7.58 billion, a PE ratio of 23.37 and a beta of 0.89.

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Fabrinet (NYSE:FN - Get Free Report) last issued its earnings results on Monday, February 3rd. The technology company reported $2.38 earnings per share 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%. Analysts anticipate that Fabrinet will post 9.4 EPS for the current year.

Institutional Investors Weigh In On Fabrinet

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Huntington National Bank raised its holdings in shares of Fabrinet by 66.7% in the fourth quarter. Huntington National Bank now owns 230 shares of the technology company's stock valued at $51,000 after purchasing an additional 92 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Fabrinet in the 3rd quarter valued at about $52,000. Quarry LP increased its stake in Fabrinet by 315.8% in the 4th quarter. Quarry LP now owns 237 shares of the technology company's stock valued at $52,000 after buying an additional 180 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new position in shares of Fabrinet in the 3rd quarter worth approximately $61,000. Finally, Orion Capital Management LLC bought a new position in shares of Fabrinet in the fourth quarter valued at approximately $62,000. 97.38% of the stock is owned by hedge funds and other 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.