Analysts Set Fabrinet (NYSE:FN) PT at $250.43

Shares of Fabrinet (NYSE:FN) have been assigned an average rating of “Hold” from the seven analysts that are presently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $250.43.

A number of research firms have recently weighed in on FN. 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 report on Tuesday, February 4th. Barclays dropped their target price on shares of Fabrinet from $292.00 to $245.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 4th. Fox Advisors began coverage on shares of Fabrinet in a research report on Tuesday, February 18th. They set an “overweight” rating and a $270.00 price target on the stock. Rosenblatt Securities reissued a “buy” rating and issued a $285.00 price objective on shares of Fabrinet in a report on Friday, March 14th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $280.00 target price on shares of Fabrinet in a report on Monday, March 17th.

Institutional Trading of Fabrinet

Several hedge funds have recently made changes to their positions in FN. Norges Bank bought a new stake in Fabrinet in the fourth quarter valued at $95,084,000. Capital Research Global Investors increased its holdings in shares of Fabrinet by 675.2% in the 4th quarter. Capital Research Global Investors now owns 417,020 shares of the technology company’s stock worth $91,694,000 after acquiring an additional 363,228 shares during the period. Wasatch Advisors LP lifted its position in Fabrinet by 47.0% in the 4th quarter. Wasatch Advisors LP now owns 1,132,636 shares of the technology company’s stock valued at $249,044,000 after purchasing an additional 362,064 shares during the last quarter. Wedge Capital Management L L P NC acquired a new position in Fabrinet during the 4th quarter valued at about $63,222,000. Finally, FMR LLC grew its position in Fabrinet by 13.1% in the 4th quarter. FMR LLC now owns 2,213,887 shares of the technology company’s stock worth $486,789,000 after purchasing an additional 257,164 shares during the last quarter. Institutional investors own 97.38% of the company’s stock.

Fabrinet Trading Down 0.8 %

FN opened at $207.17 on Friday. Fabrinet has a twelve month low of $159.69 and a twelve month high of $281.79. The firm has a market cap of $7.51 billion, a price-to-earnings ratio of 23.17 and a beta of 0.89. The company has a fifty day simple moving average of $217.58 and a 200 day simple moving average of $230.15.

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 analysts’ consensus estimates of $2.48 by ($0.10). Fabrinet had a return on equity of 18.48% and a net margin of 10.44%. On average, analysts forecast that Fabrinet will post 9.4 earnings per share for the current fiscal year.

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.