Fabrinet's (FN) "Buy" Rating Reiterated at Needham & Company LLC

Fabrinet (NYSE:FN - Get Free Report)'s stock had its "buy" rating reiterated by equities research analysts at Needham & Company LLC in a research note issued to investors on Tuesday,Benzinga reports. They presently have a $280.00 price objective on the technology company's stock. Needham & Company LLC's target price indicates a potential upside of 31.81% from the stock's current price.

Other analysts also recently issued reports about the stock. B. Riley downgraded shares of Fabrinet from a "neutral" rating to a "sell" rating and lowered their price objective for the company from $194.00 to $178.00 in a report on Wednesday, November 20th. Rosenblatt Securities lifted their price target on shares of Fabrinet from $280.00 to $285.00 and gave the company a "buy" rating in a research note on Tuesday. Finally, Barclays reduced their price objective on shares of Fabrinet from $292.00 to $245.00 and set an "equal weight" rating for the company in a research note on Tuesday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Fabrinet currently has an average rating of "Hold" and an average target price of $243.29.

Fabrinet Stock Performance

NYSE FN traded down $8.41 on Tuesday, reaching $212.43. The company had a trading volume of 714,433 shares, compared to its average volume of 761,813. The company's fifty day moving average is $230.11 and its 200-day moving average is $233.94. The firm has a market capitalization of $7.70 billion, a price-to-earnings ratio of 25.14 and a beta of 0.92. Fabrinet has a 1-year low of $159.69 and a 1-year high of $281.79.

Fabrinet (NYSE:FN - Get Free Report) last posted its quarterly earnings data on Monday, February 3rd. The technology company reported $2.38 earnings per share for the quarter, missing the consensus estimate of $2.48 by ($0.10). Fabrinet had a return on equity of 18.08% and a net margin of 10.28%. On average, research analysts forecast that Fabrinet will post 9.1 earnings per share for the current year.

Institutional Trading of Fabrinet

Several institutional investors and hedge funds have recently bought and sold shares of FN. Huntington National Bank increased its holdings in shares of Fabrinet by 70.4% during the 3rd quarter. Huntington National Bank now owns 138 shares of the technology company's stock worth $33,000 after acquiring an additional 57 shares during the last quarter. NBC Securities Inc. boosted its position in Fabrinet by 732.0% during the third quarter. NBC Securities Inc. now owns 208 shares of the technology company's stock worth $49,000 after purchasing an additional 183 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Fabrinet in the third quarter valued at $52,000. UMB Bank n.a. raised its position in shares of Fabrinet by 252.9% in the third quarter. UMB Bank n.a. now owns 240 shares of the technology company's stock valued at $57,000 after purchasing an additional 172 shares during the period. Finally, Eastern Bank acquired a new stake in shares of Fabrinet during the 3rd quarter worth about $59,000. 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.