Fabrinet (NYSE:FN) Shares Gap Down – Time to Sell?

Fabrinet (NYSE:FN)’s stock 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

Several research analysts have recently issued reports on the company. JPMorgan Chase & Co. decreased their target price on 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 reissued a “buy” rating and issued a $285.00 target price on shares of Fabrinet in a research report on Friday, March 14th. Fox Advisors assumed coverage on Fabrinet in a research report on Tuesday, February 18th. They issued an “overweight” rating and a $270.00 target price for the company. Barclays decreased their target price on Fabrinet from $292.00 to $245.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 4th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $280.00 target price on shares of Fabrinet in a research report on Monday. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, Fabrinet has an average rating of “Hold” and an average price target of $246.63.

Fabrinet Trading Up 0.6 %

The company has a market cap of $8.08 billion, a PE ratio of 24.91 and a beta of 0.89. The firm has a 50 day moving average of $219.08 and a two-hundred day moving average of $230.48.

Fabrinet (NYSE:FN) last issued its 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%. On average, research analysts forecast that Fabrinet will post 9.4 EPS for the current year.

Institutional Trading of Fabrinet

Several institutional investors have recently added to or reduced their stakes in FN. KBC Group NV boosted its stake in Fabrinet by 12.2% during the 3rd quarter. KBC Group NV now owns 1,022 shares of the technology company’s stock valued at $242,000 after purchasing an additional 111 shares during the last quarter. Huntington National Bank boosted its stake in Fabrinet by 70.4% during the 3rd quarter. Huntington National Bank now owns 138 shares of the technology company’s stock valued at $33,000 after purchasing an additional 57 shares during the last quarter. Pathstone Holdings LLC boosted its stake in Fabrinet by 40.7% during the 3rd quarter. Pathstone Holdings LLC now owns 8,219 shares of the technology company’s stock valued at $1,943,000 after purchasing an additional 2,378 shares during the last quarter. Premier Fund Managers Ltd boosted its stake in Fabrinet by 4.2% during the 3rd quarter. Premier Fund Managers Ltd now owns 24,800 shares of the technology company’s stock valued at $5,950,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Jennison Associates LLC purchased a new stake in Fabrinet during the 3rd quarter valued at $745,000. 97.38% of the stock is currently owned by hedge funds and other institutional investors.

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.