Analysts Set Fabrinet (NYSE:FN) PT at $219.00

by · The Markets Daily

Shares of Fabrinet (NYSE:FN – Get Free Report) have received a consensus recommendation of “Hold” from the seven brokerages that are currently covering the company, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $219.00.

A number of analysts recently commented on FN shares. Needham & Company LLC upped their price objective on Fabrinet from $270.00 to $280.00 and gave the company a “buy” rating in a research report on Tuesday, August 20th. Rosenblatt Securities boosted their price target on Fabrinet from $260.00 to $280.00 and gave the company a “buy” rating in a research note on Tuesday, August 20th. B. Riley increased their price objective on shares of Fabrinet from $171.00 to $196.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 20th. JPMorgan Chase & Co. boosted their target price on shares of Fabrinet from $240.00 to $285.00 and gave the company a “neutral” rating in a research report on Tuesday, August 20th. Finally, Jefferies Financial Group initiated coverage on shares of Fabrinet in a research report on Wednesday, June 26th. They issued a “hold” rating and a $230.00 price target on the stock.

Get Our Latest Stock Analysis on FN

Insider Activity at Fabrinet

In other news, CEO Seamus Grady sold 26,650 shares of the stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $270.00, for a total value of $7,195,500.00. Following the completion of the sale, the chief executive officer now directly owns 37,643 shares of the company’s stock, valued at $10,163,610. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CEO Seamus Grady sold 26,650 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $270.00, for a total value of $7,195,500.00. Following the transaction, the chief executive officer now directly owns 37,643 shares in the company, valued at $10,163,610. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Edward T. Archer sold 8,690 shares of the stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $220.26, for a total value of $1,914,059.40. Following the sale, the executive vice president now owns 8,333 shares of the company’s stock, valued at $1,835,426.58. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 44,728 shares of company stock worth $11,645,062. 0.51% of the stock is owned by company insiders.

Hedge Funds Weigh In On Fabrinet

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake in Fabrinet by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 4,348,671 shares of the technology company’s stock worth $821,986,000 after purchasing an additional 38,999 shares in the last quarter. Congress Asset Management Co. MA lifted its position in shares of Fabrinet by 0.7% in the first quarter. Congress Asset Management Co. MA now owns 524,068 shares of the technology company’s stock worth $99,059,000 after buying an additional 3,684 shares in the last quarter. TD Asset Management Inc boosted its stake in Fabrinet by 216.1% during the first quarter. TD Asset Management Inc now owns 409,761 shares of the technology company’s stock valued at $77,453,000 after buying an additional 280,145 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in Fabrinet by 4.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 314,665 shares of the technology company’s stock valued at $77,027,000 after buying an additional 12,409 shares in the last quarter. Finally, Epoch Investment Partners Inc. grew its holdings in Fabrinet by 9.6% during the 2nd quarter. Epoch Investment Partners Inc. now owns 302,006 shares of the technology company’s stock valued at $73,928,000 after buying an additional 26,475 shares in the last quarter. Institutional investors own 97.38% of the company’s stock.

Fabrinet Stock Up 3.7 %

Shares of FN stock opened at $242.85 on Friday. The company has a 50 day moving average price of $228.26 and a 200-day moving average price of $221.28. Fabrinet has a 52 week low of $149.19 and a 52 week high of $278.38. The firm has a market capitalization of $8.78 billion, a PE ratio of 32.25 and a beta of 0.95.

Fabrinet (NYSE:FN – Get Free Report) last posted its earnings results on Monday, August 19th. The technology company reported $2.41 EPS for the quarter, topping analysts’ consensus estimates of $2.06 by $0.35. The business had revenue of $753.26 million during the quarter, compared to the consensus estimate of $732.63 million. Fabrinet had a net margin of 10.27% and a return on equity of 18.10%. The firm’s revenue was up 14.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.68 EPS. Analysts anticipate that Fabrinet will post 9.11 earnings per share for the current year.

Fabrinet Company Profile

(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.

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