Fabrinet (NYSE:FN) Stock Price Down 4.7% - Should You Sell?

Shares of Fabrinet (NYSE:FN - Get Free Report) fell 4.7% during trading on Monday . The stock traded as low as $234.71 and last traded at $236.30. 278,586 shares changed hands during trading, a decline of 44% from the average session volume of 494,283 shares. The stock had previously closed at $247.86.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Needham & Company LLC assumed coverage on shares of Fabrinet in a research note on Tuesday, November 5th. They issued a "buy" rating and a $280.00 target price on the stock. B. Riley downgraded shares of 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. Rosenblatt Securities increased their target price on shares of Fabrinet from $260.00 to $280.00 and gave the company a "buy" rating in a research note on Tuesday, August 20th. Barclays initiated coverage on shares of Fabrinet in a research note on Thursday, November 14th. They issued an "equal weight" rating and a $292.00 price target on the stock. Finally, JPMorgan Chase & Co. raised their price target on shares of Fabrinet from $240.00 to $285.00 and gave the stock a "neutral" rating in a research note on Tuesday, August 20th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $252.14.

Fabrinet Stock Performance

The company has a market capitalization of $8.62 billion, a P/E ratio of 29.33 and a beta of 0.92. The company's fifty day simple moving average is $245.00 and its 200-day simple moving average is $238.14.

Fabrinet (NYSE:FN - Get Free Report) last released its quarterly earnings results on Monday, November 4th. The technology company reported $2.39 earnings per share for the quarter, beating analysts' consensus estimates of $2.38 by $0.01. The business had revenue of $804.20 million for 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 was up 17.3% compared to the same quarter last year. During the same period last year, the business earned $1.78 EPS. On average, sell-side analysts predict that Fabrinet will post 9.1 EPS for the current year.

Institutional Trading of Fabrinet

A number of institutional investors have recently bought and sold shares of the stock. Wellington Management Group LLP raised its position in 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. Geode Capital Management LLC increased its holdings in shares of Fabrinet by 7.6% during the 3rd quarter. Geode Capital Management LLC now owns 986,813 shares of the technology company's stock valued at $233,359,000 after purchasing an additional 69,554 shares in the last quarter. Whale Rock Capital Management LLC increased its holdings in shares of Fabrinet by 25.8% during the 3rd quarter. Whale Rock Capital Management LLC now owns 855,767 shares of the technology company's stock valued at $202,338,000 after purchasing an additional 175,684 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Fabrinet by 14.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 480,550 shares of the technology company's stock valued at $113,621,000 after purchasing an additional 61,491 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in Fabrinet by 4.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 314,665 shares of the technology company's stock worth $77,027,000 after acquiring an additional 12,409 shares in the last quarter. 97.38% of the stock is currently owned by institutional investors and hedge funds.

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.

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