Fabrinet (NYSE:FN) Receives $252.14 Consensus Price Target from Brokerages

Fabrinet (NYSE:FN) has earned an average rating of “Hold” from the seven brokerages that are covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $252.14.

A number of analysts have recently weighed in on FN shares. B. Riley downgraded shares of Fabrinet from a “neutral” rating to a “sell” rating and reduced their target price for the stock from $194.00 to $178.00 in a research report on Wednesday, November 20th. Needham & Company LLC started coverage on shares of Fabrinet in a research note on Tuesday, November 5th. They set a “buy” rating and a $280.00 price objective on the stock. Finally, Barclays began coverage on shares of Fabrinet in a research note on Thursday, November 14th. They set an “equal weight” rating and a $292.00 target price for the company.

Fabrinet Price Performance

FN stock opened at $222.74 on Friday. Fabrinet has a 1 year low of $159.69 and a 1 year high of $278.38. The firm has a 50-day moving average of $243.61 and a 200 day moving average of $237.88. The company has a market cap of $8.08 billion, a P/E ratio of 26.36 and a beta of 0.92.

Fabrinet (NYSE:FN) last announced its earnings results on Monday, November 4th. The technology company reported $2.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.38 by $0.01. Fabrinet had a return on equity of 18.08% and a net margin of 10.28%. The firm had revenue of $804.20 million during the quarter, compared to analyst estimates of $771.24 million. During the same quarter in the prior year, the company earned $1.78 EPS. The business’s revenue was up 17.3% compared to the same quarter last year. On average, equities research analysts expect that Fabrinet will post 9.1 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Fabrinet

Institutional investors have recently made changes to their positions in the company. nVerses Capital LLC purchased a new stake in Fabrinet during the 3rd quarter valued at $567,000. Barclays PLC lifted its holdings in shares of Fabrinet by 304.6% during the third quarter. Barclays PLC now owns 69,128 shares of the technology company’s stock valued at $16,345,000 after purchasing an additional 52,042 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Fabrinet by 14.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 480,550 shares of the technology company’s stock valued at $113,621,000 after buying an additional 61,491 shares during the last quarter. Pathstone Holdings LLC increased its holdings in Fabrinet by 40.7% in the 3rd quarter. Pathstone Holdings LLC now owns 8,219 shares of the technology company’s stock worth $1,943,000 after buying an additional 2,378 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new position in Fabrinet in the 3rd quarter worth about $2,398,000. 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.