Fabrinet (NYSE:FN) Price Target Lowered to $265.00 at JPMorgan Chase & Co.

Fabrinet (NYSE:FN) had its target price decreased by JPMorgan Chase & Co. from $275.00 to $265.00 in a research note published on Tuesday morning,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the technology company’s stock.

FN has been the subject of several other research reports. Needham & Company LLC reiterated a “buy” rating and issued a $280.00 price target on shares of Fabrinet in a research report on Tuesday. B. Riley downgraded Fabrinet from a “neutral” rating to a “sell” rating and cut their target price for the company from $194.00 to $178.00 in a research report on Wednesday, November 20th. Rosenblatt Securities raised their price target on Fabrinet from $280.00 to $285.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, Barclays cut 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 report on Tuesday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $243.29.

Fabrinet Trading Down 8.0 %

Shares of Fabrinet stock opened at $207.51 on Tuesday. The firm has a market cap of $7.53 billion, a PE ratio of 24.56 and a beta of 0.92. The stock has a 50 day moving average of $231.00 and a 200 day moving average of $234.38. Fabrinet has a 12 month low of $159.69 and a 12 month high of $281.79.

Fabrinet (NYSE:FN) last posted its earnings results 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 10.28% and a return on equity of 18.08%. As a group, equities research analysts forecast that Fabrinet will post 9.1 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Huntington National Bank grew its stake in Fabrinet by 70.4% in the 3rd quarter. Huntington National Bank now owns 138 shares of the technology company’s stock worth $33,000 after acquiring an additional 57 shares in the last quarter. NBC Securities Inc. grew its stake in Fabrinet by 732.0% in the third quarter. NBC Securities Inc. now owns 208 shares of the technology company’s stock worth $49,000 after purchasing an additional 183 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in Fabrinet during the 3rd quarter worth $52,000. UMB Bank n.a. lifted its holdings in shares of Fabrinet by 252.9% in the 3rd quarter. UMB Bank n.a. now owns 240 shares of the technology company’s stock worth $57,000 after buying an additional 172 shares during the period. Finally, Eastern Bank bought a new position in shares of Fabrinet during the 3rd quarter worth $59,000. Hedge funds and other 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.