Fabrinet (NYSE:FN) Receives $247.50 Average PT from Analysts

Fabrinet (NYSE:FN) has been assigned a consensus recommendation of “Moderate Buy” from the six research firms that are covering the stock, Marketbeat.com reports. Three investment analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $247.50.

Several equities analysts have weighed in on FN shares. Needham & Company LLC restated a “buy” rating and set a $280.00 target price on shares of Fabrinet in a report on Tuesday, May 6th. B. Riley upgraded Fabrinet from a “sell” rating to a “neutral” rating and cut their price target for the stock from $178.00 to $176.00 in a report on Friday, April 4th. JPMorgan Chase & Co. increased their price target on shares of Fabrinet from $220.00 to $235.00 and gave the company a “neutral” rating in a report on Tuesday, May 6th. Barclays set a $234.00 price target on Fabrinet and gave the company an “equal weight” rating in a research note on Tuesday, May 6th. Finally, Rosenblatt Securities boosted their price objective on Fabrinet from $250.00 to $290.00 and gave the company a “buy” rating in a research report on Thursday, June 12th.

Insider Buying and Selling at Fabrinet

In related news, COO Harpal Gill sold 18,675 shares of the business’s stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $240.00, for a total transaction of $4,482,000.00. Following the completion of the transaction, the chief operating officer owned 18,068 shares in the company, valued at approximately $4,336,320. The trade was a 50.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Rollance E. Olson sold 2,500 shares of the stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $223.98, for a total transaction of $559,950.00. Following the completion of the sale, the director owned 23,201 shares in the company, valued at approximately $5,196,559.98. This trade represents a 9.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.38% of the company’s stock.

Institutional Investors Weigh In On Fabrinet

Several large investors have recently modified their holdings of the business. Banque Cantonale Vaudoise acquired a new position in shares of Fabrinet in the 1st quarter valued at approximately $29,000. Wayfinding Financial LLC acquired a new position in Fabrinet during the 1st quarter worth approximately $30,000. Berbice Capital Management LLC bought a new position in shares of Fabrinet during the 1st quarter worth approximately $30,000. Private Trust Co. NA lifted its position in shares of Fabrinet by 44.3% in the first quarter. Private Trust Co. NA now owns 166 shares of the technology company’s stock worth $33,000 after purchasing an additional 51 shares in the last quarter. Finally, SBI Securities Co. Ltd. boosted its stake in shares of Fabrinet by 93.5% during the 1st quarter. SBI Securities Co. Ltd. now owns 180 shares of the technology company’s stock worth $36,000 after buying an additional 87 shares during the last quarter. 97.38% of the stock is currently owned by institutional investors.

Fabrinet Stock Performance

Shares of NYSE:FN opened at $291.59 on Tuesday. Fabrinet has a 52 week low of $148.55 and a 52 week high of $300.29. The company has a market cap of $10.45 billion, a PE ratio of 32.47 and a beta of 1.04. The firm has a 50 day simple moving average of $240.56 and a 200 day simple moving average of $222.13.

Fabrinet (NYSE:FN) last posted its quarterly earnings results on Monday, May 5th. The technology company reported $2.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.47 by $0.05. Fabrinet had a net margin of 10.00% and a return on equity of 17.99%. The business had revenue of $871.80 million during the quarter, compared to analyst estimates of $857.12 million. During the same period in the prior year, the firm earned $2.39 earnings per share. The firm’s revenue was up 19.2% compared to the same quarter last year. On average, equities analysts predict that Fabrinet will post 9.4 earnings per share for the current 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.