Fox Advisors Initiates Coverage on Fabrinet (NYSE:FN)

Fox Advisors initiated coverage on shares of Fabrinet (NYSE:FN) in a research report released on Tuesday morning, MarketBeat reports. The brokerage issued an overweight rating and a $270.00 target price on the technology company’s stock.

Other research analysts have also issued reports about the stock. Barclays dropped their price objective 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. JPMorgan Chase & Co. dropped their price target on shares of Fabrinet from $275.00 to $265.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 4th. B. Riley lowered shares of Fabrinet from a “neutral” rating to a “sell” rating and dropped their price target for the company from $194.00 to $178.00 in a research report on Wednesday, November 20th. Needham & Company LLC reissued a “buy” rating and set a $280.00 price target on shares of Fabrinet in a research report on Tuesday, February 4th. Finally, Rosenblatt Securities raised their price target on shares of Fabrinet from $280.00 to $285.00 and gave the company a “buy” rating in a research report on Tuesday, February 4th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $246.63.

Fabrinet Trading Up 7.8 %

Fabrinet stock opened at $240.37 on Tuesday. Fabrinet has a 1-year low of $159.69 and a 1-year high of $281.79. The firm has a market capitalization of $8.72 billion, a price-to-earnings ratio of 26.89 and a beta of 0.92. The firm’s fifty day moving average price is $226.93 and its two-hundred day moving average price is $233.63.

Fabrinet (NYSE:FN) last released its quarterly earnings data on Monday, February 3rd. The technology company reported $2.38 earnings per share 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, research analysts forecast that Fabrinet will post 9.4 EPS for the current year.

Institutional Trading of Fabrinet

Several hedge funds have recently added to or reduced their stakes in FN. CWM LLC raised its position in Fabrinet by 59.1% in the third quarter. CWM LLC now owns 845 shares of the technology company’s stock worth $200,000 after acquiring an additional 314 shares during the period. Creative Planning increased its stake in shares of Fabrinet by 22.0% in the third quarter. Creative Planning now owns 13,455 shares of the technology company’s stock worth $3,181,000 after purchasing an additional 2,422 shares in the last quarter. Blue Trust Inc. increased its stake in shares of Fabrinet by 249.2% in the third quarter. Blue Trust Inc. now owns 426 shares of the technology company’s stock worth $104,000 after purchasing an additional 304 shares in the last quarter. Raymond James & Associates increased its stake in shares of Fabrinet by 8.5% in the third quarter. Raymond James & Associates now owns 21,746 shares of the technology company’s stock worth $5,142,000 after purchasing an additional 1,708 shares in the last quarter. Finally, Eastern Bank purchased a new position in shares of Fabrinet in the third quarter worth about $59,000. Institutional investors own 97.38% of the company’s stock.

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.