Fabrinet (NYSE:FN) Price Target Raised to $250.00

by · The Cerbat Gem

Fabrinet (NYSE:FN – Get Free Report) had its price target raised by Rosenblatt Securities from $230.00 to $250.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the technology company’s stock. Rosenblatt Securities’ price target points to a potential upside of 12.74% from the stock’s current price.

Several other research analysts also recently commented on FN. Needham & Company LLC reissued a “buy” rating and issued a $280.00 target price on shares of Fabrinet in a report on Tuesday. Barclays dropped their price target on shares of Fabrinet from $292.00 to $245.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 4th. JPMorgan Chase & Co. reduced their price target on Fabrinet from $265.00 to $220.00 and set a “neutral” rating on the stock in a research report on Thursday, April 17th. Fox Advisors started coverage on Fabrinet in a report on Tuesday, February 18th. They issued an “overweight” rating and a $270.00 price objective for the company. Finally, B. Riley upgraded Fabrinet from a “sell” rating to a “neutral” rating and reduced their target price for the stock from $178.00 to $176.00 in a report on Friday, April 4th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $237.14.

View Our Latest Research Report on FN

Fabrinet Stock Up 1.6 %

FN opened at $221.75 on Tuesday. The stock’s 50 day moving average price is $198.81 and its two-hundred day moving average price is $220.88. The firm has a market capitalization of $7.95 billion, a P/E ratio of 24.80 and a beta of 0.95. Fabrinet has a 12-month low of $148.55 and a 12-month high of $281.79.

Fabrinet (NYSE:FN – Get Free Report) last announced its quarterly earnings results 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 return on equity of 18.48% and a net margin of 10.44%. As a group, analysts anticipate that Fabrinet will post 9.4 earnings per share for the current year.

Hedge Funds Weigh In On Fabrinet

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Wayfinding Financial LLC acquired a new position in shares of Fabrinet during the first quarter worth about $30,000. Berbice Capital Management LLC bought a new stake in Fabrinet in the 1st quarter valued at approximately $30,000. Private Trust Co. NA lifted its stake in Fabrinet by 44.3% in the 1st quarter. Private Trust Co. NA now owns 166 shares of the technology company’s stock valued at $33,000 after acquiring an additional 51 shares in the last quarter. SBI Securities Co. Ltd. boosted its position in Fabrinet by 93.5% during the 1st quarter. SBI Securities Co. Ltd. now owns 180 shares of the technology company’s stock worth $36,000 after acquiring an additional 87 shares during the last quarter. Finally, Versant Capital Management Inc grew its stake in shares of Fabrinet by 353.7% during the 1st quarter. Versant Capital Management Inc now owns 186 shares of the technology company’s stock worth $37,000 after acquiring an additional 145 shares in the last quarter. 97.38% of the stock is owned by institutional investors and hedge funds.

About Fabrinet

(Get Free Report)

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.

Featured Stories