Fabrinet (NYSE:FN) Trading Down 2.2% – Should You Sell?

Fabrinet (NYSE:FN) traded down 2.2% during trading on Friday . The stock traded as low as $212.02 and last traded at $218.80. 246,324 shares were traded during mid-day trading, a decline of 68% from the average session volume of 759,171 shares. The stock had previously closed at $223.66.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on FN shares. JPMorgan Chase & Co. decreased their price target 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. Barclays lowered their price target 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. Fox Advisors assumed coverage on Fabrinet in a report on Tuesday, February 18th. They issued an “overweight” rating and a $270.00 price objective for the company. Rosenblatt Securities reiterated a “buy” rating and set a $285.00 target price on shares of Fabrinet in a report on Friday. Finally, Needham & Company LLC restated a “buy” rating and issued a $280.00 price target on shares of Fabrinet in a research note on Tuesday, February 4th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $246.63.

Fabrinet Trading Up 0.2 %

The stock’s 50 day moving average is $219.62 and its 200 day moving average is $231.20. The firm has a market cap of $8.13 billion, a price-to-earnings ratio of 25.09 and a beta of 0.89.

Fabrinet (NYSE:FN) last posted its quarterly earnings results on Monday, February 3rd. The technology company reported $2.38 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%. On average, equities research analysts predict that Fabrinet will post 9.4 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Cynosure Group LLC grew its stake in shares of Fabrinet by 3.4% in 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 during the last quarter. Assetmark Inc. increased its holdings in shares of Fabrinet by 12.0% during the fourth quarter. Assetmark Inc. now owns 484 shares of the technology company’s stock valued at $106,000 after acquiring an additional 52 shares in the last quarter. Huntington National Bank lifted its stake in shares of Fabrinet by 70.4% in the third quarter. Huntington National Bank now owns 138 shares of the technology company’s stock valued at $33,000 after buying an additional 57 shares in the last quarter. CIBC Asset Management Inc boosted its stake in Fabrinet by 5.7% during the 4th quarter. CIBC Asset Management Inc now owns 1,113 shares of the technology company’s stock valued at $245,000 after purchasing an additional 60 shares during the last quarter. Finally, Nations Financial Group Inc. IA ADV grew its holdings in Fabrinet by 2.4% during the fourth quarter. Nations Financial Group Inc. IA ADV now owns 2,941 shares of the technology company’s stock worth $647,000 after buying an additional 68 shares in the last quarter. 97.38% of the stock is currently owned by institutional investors.

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.