B. Riley Cuts Fabrinet (NYSE:FN) Price Target to $171.00

Fabrinet (NYSE:FN) had its price objective cut by B. Riley from $173.00 to $171.00 in a research note issued to investors on Tuesday, Benzinga reports. They currently have a neutral rating on the technology company’s stock.

Other equities analysts also recently issued reports about the stock. Rosenblatt Securities reaffirmed a buy rating and issued a $230.00 target price on shares of Fabrinet in a research note on Tuesday, February 6th. Northland Securities upgraded shares of Fabrinet from a market perform rating to an outperform rating and boosted their price objective for the stock from $200.00 to $220.00 in a research report on Thursday, March 21st. JPMorgan Chase & Co. increased their price objective on Fabrinet from $210.00 to $212.00 and gave the company a neutral rating in a research report on Thursday, April 11th. Finally, Needham & Company LLC restated a buy rating and set a $220.00 target price on shares of Fabrinet in a research report on Tuesday. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average price target of $161.00.

Fabrinet Price Performance

FN stock opened at $209.26 on Tuesday. The stock has a market capitalization of $7.60 billion, a price-to-earnings ratio of 30.24 and a beta of 1.04. The business has a fifty day moving average price of $189.76 and a 200 day moving average price of $185.77. Fabrinet has a fifty-two week low of $90.19 and a fifty-two week high of $229.02.

Fabrinet (NYSE:FN) last released its quarterly earnings results on Monday, February 5th. The technology company reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.84 by $0.05. Fabrinet had a return on equity of 17.27% and a net margin of 9.35%. The business had revenue of $712.69 million during the quarter, compared to analysts’ expectations of $699.76 million. On average, equities analysts expect that Fabrinet will post 7.59 earnings per share for the current fiscal year.

Insider Activity

In other Fabrinet news, Director Rollance E. Olson sold 10,000 shares of the firm’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $205.52, for a total transaction of $2,055,200.00. Following the transaction, the director now owns 25,981 shares in the company, valued at $5,339,615.12. The sale was disclosed in a document filed with the SEC, which is available through this link. 0.51% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Fabrinet

Several hedge funds have recently bought and sold shares of FN. First Eagle Investment Management LLC boosted its holdings in shares of Fabrinet by 0.8% in the 4th quarter. First Eagle Investment Management LLC now owns 7,508 shares of the technology company’s stock valued at $1,429,000 after buying an additional 60 shares during the last quarter. Campbell Newman Asset Management Inc. grew its position in shares of Fabrinet by 0.4% in the fourth quarter. Campbell Newman Asset Management Inc. now owns 17,895 shares of the technology company’s stock valued at $3,406,000 after purchasing an additional 64 shares during the last quarter. Signaturefd LLC increased its stake in shares of Fabrinet by 15.9% during the third quarter. Signaturefd LLC now owns 503 shares of the technology company’s stock worth $84,000 after purchasing an additional 69 shares during the period. Raymond James Financial Services Advisors Inc. lifted its holdings in Fabrinet by 3.5% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 2,208 shares of the technology company’s stock worth $368,000 after purchasing an additional 75 shares during the last quarter. Finally, Sequoia Financial Advisors LLC lifted its holdings in Fabrinet by 3.2% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 2,396 shares of the technology company’s stock worth $399,000 after purchasing an additional 75 shares during the last quarter. 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.