JPMorgan Chase & Co. Has Lowered Expectations for Fabrinet (NYSE:FN) Stock Price

Fabrinet (NYSE:FN - Get Free Report) had its target price dropped by equities research analysts at JPMorgan Chase & Co. from $265.00 to $220.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has a "neutral" rating on the technology company's stock. JPMorgan Chase & Co.'s price objective would indicate a potential upside of 24.28% from the company's current price.

Several other equities analysts also recently issued reports on the stock. Rosenblatt Securities reissued a "buy" rating and set a $285.00 price target on shares of Fabrinet in a report on Friday, March 14th. Needham & Company LLC reiterated a "buy" rating and set a $280.00 price target on shares of Fabrinet in a research report on Monday, March 17th. Barclays cut their price objective on shares of 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 shares of Fabrinet from a "sell" rating to a "neutral" rating and dropped their price target for the stock from $178.00 to $176.00 in a research report on Friday, April 4th. Finally, Fox Advisors began coverage on Fabrinet in a research note on Tuesday, February 18th. They issued an "overweight" rating and a $270.00 price objective on the stock. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $243.71.

Fabrinet Stock Performance

Shares of NYSE FN traded up $4.52 during trading on Thursday, reaching $177.02. The stock had a trading volume of 188,365 shares, compared to its average volume of 605,533. The firm's 50 day moving average price is $202.73 and its two-hundred day moving average price is $224.51. Fabrinet has a one year low of $148.55 and a one year high of $281.79. The stock has a market cap of $6.34 billion, a PE ratio of 19.76 and a beta of 0.97.

Fabrinet (NYSE:FN - Get Free Report) last issued 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 return on equity of 18.48% and a net margin of 10.44%. On average, research analysts expect that Fabrinet will post 9.4 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Versant Capital Management Inc boosted its stake in Fabrinet by 353.7% in the 1st quarter. Versant Capital Management Inc now owns 186 shares of the technology company's stock worth $37,000 after purchasing an additional 145 shares during the period. Huntington National Bank raised its position in Fabrinet by 66.7% during the fourth quarter. Huntington National Bank now owns 230 shares of the technology company's stock valued at $51,000 after buying an additional 92 shares during the period. Quarry LP lifted its stake in Fabrinet by 315.8% in the 4th quarter. Quarry LP now owns 237 shares of the technology company's stock worth $52,000 after acquiring an additional 180 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new stake in Fabrinet during the 3rd quarter worth about $61,000. Finally, Orion Capital Management LLC purchased a new position in Fabrinet during the 4th quarter valued at about $62,000. 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.