Fabrinet (NYSE:FN) Reaches New 12-Month Low – Time to Sell?

Fabrinet (NYSE:FN) shares hit a new 52-week low during mid-day trading on Friday . The company traded as low as $148.55 and last traded at $156.98, with a volume of 517938 shares. The stock had previously closed at $172.56.

Analyst Upgrades and Downgrades

Several research firms recently commented on FN. B. Riley upgraded shares of Fabrinet from a “sell” rating to a “neutral” rating and reduced their price target for the company from $178.00 to $176.00 in a research report on Friday. JPMorgan Chase & Co. reduced their target price on shares of Fabrinet from $275.00 to $265.00 and set a “neutral” rating for the company in a report on Tuesday, February 4th. Needham & Company LLC restated a “buy” rating and issued a $280.00 price target on shares of Fabrinet in a research report on Monday, March 17th. Fox Advisors started coverage on Fabrinet in a research report on Tuesday, February 18th. They set an “overweight” rating and a $270.00 price objective for the company. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $285.00 target price on shares of Fabrinet in a report on Friday, March 14th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Fabrinet currently has a consensus rating of “Hold” and an average target price of $250.14.

Fabrinet Stock Down 0.8 %

The stock has a fifty day moving average of $209.73 and a two-hundred day moving average of $228.93. The stock has a market cap of $6.21 billion, a price-to-earnings ratio of 19.14 and a beta of 0.97.

Fabrinet (NYSE:FN) last announced its quarterly 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 net margin of 10.44% and a return on equity of 18.48%. On average, research analysts expect that Fabrinet will post 9.4 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in FN. Versant Capital Management Inc increased its holdings in Fabrinet by 353.7% during the 1st 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 grew its position in shares of Fabrinet by 66.7% in the fourth quarter. Huntington National Bank now owns 230 shares of the technology company’s stock valued at $51,000 after purchasing an additional 92 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Fabrinet during the 3rd quarter worth approximately $52,000. Quarry LP raised its position in shares of Fabrinet by 315.8% during the 4th quarter. Quarry LP now owns 237 shares of the technology company’s stock worth $52,000 after purchasing an additional 180 shares during the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new position in shares of Fabrinet during the 3rd quarter worth approximately $61,000. 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.