Fabrinet (NYSE:FN) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Fabrinet (NYSE:FN) have earned an average recommendation of “Hold” from the seven research firms that are covering the firm, Marketbeat reports. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $250.14.

FN has been the subject of a number of recent analyst reports. Needham & Company LLC restated a “buy” rating and issued a $280.00 price objective on shares of Fabrinet in a research note on Monday, March 17th. Fox Advisors began coverage on shares of Fabrinet in a research report on Tuesday, February 18th. They issued an “overweight” rating and a $270.00 price objective on the stock. Barclays dropped their target price 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. Rosenblatt Securities restated a “buy” rating and set a $285.00 price target on shares of Fabrinet in a research note on Friday, March 14th. Finally, B. Riley upgraded Fabrinet from a “sell” rating to a “neutral” rating and dropped their price objective for the company from $178.00 to $176.00 in a research note on Friday, April 4th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of FN. Versant Capital Management Inc raised its holdings in shares of Fabrinet by 353.7% during the first quarter. Versant Capital Management Inc now owns 186 shares of the technology company’s stock valued at $37,000 after acquiring an additional 145 shares in the last quarter. Huntington National Bank lifted its position in shares of Fabrinet by 66.7% in the 4th quarter. Huntington National Bank now owns 230 shares of the technology company’s stock worth $51,000 after purchasing an additional 92 shares during the period. Quarry LP boosted its stake in shares of Fabrinet by 315.8% during the 4th quarter. Quarry LP now owns 237 shares of the technology company’s stock valued at $52,000 after purchasing an additional 180 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new position in shares of Fabrinet during the third quarter valued at about $61,000. Finally, Orion Capital Management LLC bought a new position in Fabrinet in the fourth quarter worth about $62,000. Institutional investors own 97.38% of the company’s stock.

Fabrinet Trading Down 1.0 %

Shares of FN stock opened at $186.57 on Thursday. The firm has a fifty day simple moving average of $204.52 and a two-hundred day simple moving average of $225.81. Fabrinet has a 12 month low of $148.55 and a 12 month high of $281.79. The firm has a market capitalization of $6.68 billion, a PE ratio of 20.87 and a beta of 0.97.

Fabrinet (NYSE:FN) last announced its earnings results on Monday, February 3rd. The technology company reported $2.38 earnings per share (EPS) for the quarter, missing the consensus estimate 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 analysts predict that Fabrinet will post 9.4 earnings per share for the current fiscal year.

About Fabrinet

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.