Fabrinet (NYSE:FN) Receives $246.63 Average Price Target from Brokerages

Fabrinet (NYSE:FN) has earned an average recommendation of “Hold” from the eight research firms that are currently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and four have issued a buy recommendation on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $246.63.

A number of equities analysts have weighed in on FN shares. B. Riley lowered Fabrinet from a “neutral” rating to a “sell” rating and decreased their target price for the stock from $194.00 to $178.00 in a research note on Wednesday, November 20th. Needham & Company LLC restated a “buy” rating and issued a $280.00 price objective on shares of Fabrinet in a research report on Tuesday, February 4th. JPMorgan Chase & Co. dropped their target price 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. Rosenblatt Securities increased their price target on shares of Fabrinet from $280.00 to $285.00 and gave the stock a “buy” rating in a report on Tuesday, February 4th. Finally, Barclays lowered 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, February 4th.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Blue Trust Inc. increased its position in shares of Fabrinet by 249.2% in the third quarter. Blue Trust Inc. now owns 426 shares of the technology company’s stock valued at $104,000 after acquiring an additional 304 shares during the period. Raymond James & Associates grew 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 during the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in Fabrinet by 13.8% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 4,003 shares of the technology company’s stock valued at $946,000 after purchasing an additional 484 shares during the period. DekaBank Deutsche Girozentrale raised its position in Fabrinet by 3,831.4% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 82,088 shares of the technology company’s stock valued at $19,465,000 after purchasing an additional 80,000 shares during the last quarter. Finally, Oak Ridge Investments LLC purchased a new stake in Fabrinet in the 3rd quarter worth approximately $2,661,000. 97.38% of the stock is owned by hedge funds and other institutional investors.

Fabrinet Trading Up 2.0 %

FN stock opened at $199.19 on Wednesday. The firm has a 50 day moving average of $223.90 and a 200-day moving average of $234.43. The firm has a market capitalization of $7.22 billion, a P/E ratio of 22.28 and a beta of 0.92. Fabrinet has a 12 month low of $159.69 and a 12 month high of $281.79.

Fabrinet (NYSE:FN) last announced its quarterly earnings results on Monday, February 3rd. The technology company reported $2.38 EPS for the quarter, missing the consensus estimate of $2.48 by ($0.10). Fabrinet had a net margin of 10.44% and a return on equity of 18.48%. Sell-side analysts predict that Fabrinet will post 9.4 EPS 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.