Fabrinet (NYSE:FN) Trading 7.9% Higher - Should You Buy?

Fabrinet (NYSE:FN - Get Free Report) shares traded up 7.9% during mid-day trading on Tuesday . The company traded as high as $254.61 and last traded at $240.60. 594,537 shares were traded during mid-day trading, a decline of 16% from the average session volume of 710,042 shares. The stock had previously closed at $223.04.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Barclays dropped their price objective on shares of Fabrinet from $292.00 to $245.00 and set an "equal weight" rating for the company in a report on Tuesday, February 4th. Needham & Company LLC reiterated a "buy" rating and set a $280.00 price target on shares of Fabrinet in a research report on Tuesday, February 4th. JPMorgan Chase & Co. dropped their price target on shares of Fabrinet from $275.00 to $265.00 and set a "neutral" rating for the company in a research report on Tuesday, February 4th. Fox Advisors initiated coverage on shares of Fabrinet in a research report on Tuesday. They set an "overweight" rating and a $270.00 price target for the company. Finally, B. Riley cut shares of Fabrinet from a "neutral" rating to a "sell" rating and dropped their price target for the company from $194.00 to $178.00 in a research report on Wednesday, November 20th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $246.63.

Fabrinet Price Performance

The company's 50 day moving average price is $226.73 and its 200 day moving average price is $233.90. The firm has a market cap of $8.06 billion, a PE ratio of 24.85 and a beta of 0.92.

Fabrinet (NYSE:FN - Get Free Report) last posted its quarterly earnings data on Monday, February 3rd. The technology company reported $2.38 EPS for the quarter, missing the consensus estimate of $2.48 by ($0.10). Fabrinet had a net margin of 10.44% and a return on equity of 18.48%. Sell-side analysts expect that Fabrinet will post 9.4 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in Fabrinet by 2.8% in the fourth quarter. Vanguard Group Inc. now owns 4,137,579 shares of the technology company's stock worth $909,771,000 after acquiring an additional 113,186 shares during the last quarter. FMR LLC lifted its stake in Fabrinet by 13.1% in the fourth quarter. FMR LLC now owns 2,213,887 shares of the technology company's stock worth $486,789,000 after acquiring an additional 257,164 shares during the last quarter. Wellington Management Group LLP lifted its position in shares of 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. Wasatch Advisors LP lifted its position in shares of Fabrinet by 47.0% during the 4th quarter. Wasatch Advisors LP now owns 1,132,636 shares of the technology company's stock worth $249,044,000 after buying an additional 362,064 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Fabrinet by 2.0% during the 4th quarter. Geode Capital Management LLC now owns 1,006,858 shares of the technology company's stock worth $221,430,000 after buying an additional 20,045 shares during the last quarter. Hedge funds and other 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.