Fabrinet (NYSE:FN) Shares Gap Down – Should You Sell?

Fabrinet (NYSE:FN)’s share price gapped down prior to trading on Monday . The stock had previously closed at $220.00, but opened at $215.29. Fabrinet shares last traded at $218.40, with a volume of 37,806 shares traded.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Fox Advisors assumed coverage on shares of Fabrinet in a research report on Tuesday, February 18th. They issued an “overweight” rating and a $270.00 price objective for the company. Barclays decreased their price objective 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. B. Riley downgraded shares of Fabrinet from a “neutral” rating to a “sell” rating and reduced their price target for the stock from $194.00 to $178.00 in a research report on Wednesday, November 20th. JPMorgan Chase & Co. reduced 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. Finally, Rosenblatt Securities restated a “buy” rating and set a $285.00 price target on shares of Fabrinet in a research report on Friday. One analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $246.63.

Fabrinet Trading Down 0.2 %

The company has a market cap of $7.96 billion, a price-to-earnings ratio of 24.60 and a beta of 0.89. The stock’s fifty day simple moving average is $219.44 and its 200 day simple moving average is $230.79.

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

Institutional Trading of Fabrinet

Hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Fabrinet by 2.8% during the 4th quarter. Vanguard Group Inc. now owns 4,137,579 shares of the technology company’s stock worth $909,771,000 after purchasing an additional 113,186 shares during the period. FMR LLC boosted its position in shares of Fabrinet by 13.1% during 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 period. Wellington Management Group LLP boosted its position in shares of Fabrinet by 1.7% during the 3rd quarter. Wellington Management Group LLP now owns 1,169,162 shares of the technology company’s stock worth $276,437,000 after purchasing an additional 19,677 shares during the period. Wasatch Advisors LP boosted its position in shares of Fabrinet by 47.0% during the 4th quarter. Wasatch Advisors LP now owns 1,132,636 shares of the technology company’s stock worth $249,044,000 after purchasing an additional 362,064 shares during the period. Finally, Geode Capital Management LLC boosted its position in Fabrinet by 2.0% in the 4th quarter. Geode Capital Management LLC now owns 1,006,858 shares of the technology company’s stock valued at $221,430,000 after buying an additional 20,045 shares during the period. Hedge funds and other institutional investors own 97.38% of the company’s stock.

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.