Fabrinet (NYSE:FN) Trading 1.8% Higher - What's Next?

Shares of Fabrinet (NYSE:FN - Get Free Report) rose 1.8% during trading on Monday . The company traded as high as $176.45 and last traded at $174.06. Approximately 225,614 shares traded hands during trading, a decline of 62% from the average daily volume of 586,764 shares. The stock had previously closed at $171.03.

Analyst Ratings Changes

Several research analysts have recently commented on FN shares. Barclays decreased their price objective 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. B. Riley upgraded Fabrinet from a "sell" rating to a "neutral" rating and decreased their target price for the stock from $178.00 to $176.00 in a research report on Friday, April 4th. Needham & Company LLC restated a "buy" rating and issued a $280.00 target price on shares of Fabrinet in a report on Monday, March 17th. Fox Advisors assumed coverage on shares of Fabrinet in a report on Tuesday, February 18th. They set an "overweight" rating and a $270.00 price target on the stock. Finally, JPMorgan Chase & Co. lowered their target price on shares of Fabrinet from $275.00 to $265.00 and set a "neutral" rating for the company in a research note on Tuesday, February 4th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Fabrinet currently has a consensus rating of "Hold" and a consensus price target of $250.14.

Fabrinet Trading Up 3.4 %

The company has a fifty day moving average price of $206.17 and a two-hundred day moving average price of $226.76. The firm has a market capitalization of $6.86 billion, a price-to-earnings ratio of 21.15 and a beta of 0.97.

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Fabrinet (NYSE:FN - Get Free Report) last announced its earnings results on Monday, February 3rd. The technology company reported $2.38 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.48 by ($0.10). Fabrinet had a net margin of 10.44% and a return on equity of 18.48%. As a group, equities research analysts expect that Fabrinet will post 9.4 earnings per share for the current year.

Hedge Funds Weigh In On Fabrinet

A number of large investors have recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of Fabrinet during the fourth quarter worth about $95,084,000. Capital Research Global Investors lifted its holdings in shares of Fabrinet by 675.2% during the 4th quarter. Capital Research Global Investors now owns 417,020 shares of the technology company's stock valued at $91,694,000 after acquiring an additional 363,228 shares in the last quarter. Wasatch Advisors LP lifted its stake in shares of Fabrinet by 47.0% during the fourth quarter. Wasatch Advisors LP now owns 1,132,636 shares of the technology company's stock worth $249,044,000 after purchasing an additional 362,064 shares in the last quarter. Wedge Capital Management L L P NC acquired a new stake in Fabrinet in the fourth quarter valued at approximately $63,222,000. Finally, FMR LLC lifted its holdings in Fabrinet by 13.1% in the 4th quarter. FMR LLC now owns 2,213,887 shares of the technology company's stock worth $486,789,000 after buying an additional 257,164 shares in the last quarter. Hedge funds and other institutional investors own 97.38% of the company's stock.

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.