Fabrinet (NYSE:FN) Given Average Recommendation of “Hold” by Analysts

Shares of Fabrinet (NYSE:FN) have earned a consensus rating of “Hold” from the seven ratings firms that are covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating on the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $252.14.

FN has been the subject of several research analyst reports. Needham & Company LLC initiated coverage on shares of Fabrinet in a research note on Tuesday, November 5th. They set a “buy” rating and a $280.00 price target for the company. B. Riley cut Fabrinet from a “neutral” rating to a “sell” rating and lowered their target price for the stock from $194.00 to $178.00 in a report on Wednesday, November 20th. Finally, Barclays started coverage on Fabrinet in a research note on Thursday, November 14th. They set an “equal weight” rating and a $292.00 price target on the stock.

Institutional Investors Weigh In On Fabrinet

A number of institutional investors have recently added to or reduced their stakes in FN. Legacy Wealth Asset Management LLC boosted its holdings in shares of Fabrinet by 3.2% in the 3rd quarter. Legacy Wealth Asset Management LLC now owns 1,375 shares of the technology company’s stock valued at $325,000 after buying an additional 43 shares in the last quarter. Wolff Wiese Magana LLC grew its holdings in Fabrinet by 2.7% in the third quarter. Wolff Wiese Magana LLC now owns 1,765 shares of the technology company’s stock worth $417,000 after purchasing an additional 47 shares during the last quarter. Cynosure Group LLC increased its position in shares of Fabrinet by 3.4% during the third quarter. Cynosure Group LLC now owns 1,560 shares of the technology company’s stock worth $369,000 after purchasing an additional 51 shares in the last quarter. Trust Point Inc. lifted its holdings in shares of Fabrinet by 4.7% during the 3rd quarter. Trust Point Inc. now owns 1,272 shares of the technology company’s stock valued at $301,000 after purchasing an additional 57 shares during the last quarter. Finally, Huntington National Bank boosted its position in shares of Fabrinet by 70.4% in the 3rd quarter. Huntington National Bank now owns 138 shares of the technology company’s stock worth $33,000 after purchasing an additional 57 shares in the last quarter. Institutional investors own 97.38% of the company’s stock.

Fabrinet Stock Down 2.1 %

FN opened at $228.67 on Tuesday. The business has a fifty day moving average of $234.92 and a 200 day moving average of $235.90. The stock has a market cap of $8.29 billion, a P/E ratio of 27.06 and a beta of 0.93. Fabrinet has a 52-week low of $159.69 and a 52-week high of $278.38.

Fabrinet (NYSE:FN) last posted its quarterly earnings results on Monday, November 4th. The technology company reported $2.39 EPS for the quarter, topping analysts’ consensus estimates of $2.38 by $0.01. Fabrinet had a net margin of 10.28% and a return on equity of 18.08%. The firm had revenue of $804.20 million for the quarter, compared to analysts’ expectations of $771.24 million. During the same period in the prior year, the business posted $1.78 earnings per share. The business’s revenue for the quarter was up 17.3% on a year-over-year basis. Equities analysts anticipate that Fabrinet will post 9.1 EPS for the current fiscal year.

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.