Fabrinet (NYSE:FN) has been given an average rating of “Buy” by the nine analysts that are covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation, one has given a hold recommendation, five have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $39.30.
Several analysts recently commented on FN shares. Zacks Investment Research upgraded shares of Fabrinet from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 24th. B. Riley reduced their price target on shares of Fabrinet from $46.50 to $42.50 and set a “buy” rating for the company in a research report on Friday, November 3rd. Needham & Company LLC reduced their price target on shares of Fabrinet from $60.00 to $45.00 and set a “strong-buy” rating for the company in a research report on Tuesday, November 7th. JPMorgan Chase & Co. downgraded shares of Fabrinet from an “overweight” rating to a “neutral” rating and set a $42.00 price target for the company. in a research report on Tuesday, November 7th. Finally, Piper Jaffray Companies reiterated a “buy” rating on shares of Fabrinet in a research report on Friday, November 10th.
Shares of Fabrinet (FN) traded down $0.37 during trading hours on Wednesday, hitting $29.14. 625,923 shares of the stock traded hands, compared to its average volume of 1,036,860. The stock has a market cap of $1,100.17, a P/E ratio of 12.40, a PEG ratio of 1.16 and a beta of 0.75. The company has a quick ratio of 1.99, a current ratio of 2.84 and a debt-to-equity ratio of 0.02. Fabrinet has a twelve month low of $24.02 and a twelve month high of $49.63.
Fabrinet (NYSE:FN) last issued its quarterly earnings data on Monday, February 5th. The technology company reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.02. The business had revenue of $337.10 million during the quarter, compared to the consensus estimate of $329.41 million. Fabrinet had a net margin of 6.24% and a return on equity of 12.96%. The company’s revenue was down 4.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.91 EPS. equities research analysts expect that Fabrinet will post 2.12 EPS for the current fiscal year.
Fabrinet announced that its board has approved a stock repurchase plan on Monday, February 5th that allows the company to repurchase $30.00 million in shares. This repurchase authorization allows the technology company to reacquire shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its shares are undervalued.
In other Fabrinet news, insider David T. Mitchell sold 8,600 shares of the company’s stock in a transaction on Monday, January 8th. The shares were sold at an average price of $30.02, for a total transaction of $258,172.00. Following the completion of the transaction, the insider now owns 111,057 shares in the company, valued at approximately $3,333,931.14. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider David T. Mitchell sold 32,021 shares of the company’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $29.30, for a total transaction of $938,215.30. Following the transaction, the insider now owns 111,057 shares of the company’s stock, valued at approximately $3,253,970.10. The disclosure for this sale can be found here. In the last quarter, insiders sold 160,422 shares of company stock valued at $4,838,313. 3.30% of the stock is owned by insiders.
A number of institutional investors have recently made changes to their positions in the business. We Are One Seven LLC purchased a new position in Fabrinet during the 4th quarter worth $230,000. Legion Partners Asset Management LLC raised its position in Fabrinet by 23.8% during the 4th quarter. Legion Partners Asset Management LLC now owns 912,359 shares of the technology company’s stock worth $26,185,000 after buying an additional 175,650 shares during the last quarter. Hillcrest Asset Management LLC purchased a new position in Fabrinet during the 4th quarter worth $6,419,000. TIAA CREF Investment Management LLC raised its position in Fabrinet by 3.0% during the 4th quarter. TIAA CREF Investment Management LLC now owns 168,282 shares of the technology company’s stock worth $4,830,000 after buying an additional 4,897 shares during the last quarter. Finally, Teachers Retirement System of The State of Kentucky raised its position in Fabrinet by 19.5% during the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 48,183 shares of the technology company’s stock worth $1,383,000 after buying an additional 7,865 shares during the last quarter. Institutional investors own 94.25% of the company’s stock.
Fabrinet provides optical packaging and precision optical, electro-mechanical and electronic manufacturing services to original equipment manufacturers (OEMs) of products, such as optical communication components, modules and sub-systems, industrial lasers, medical devices and sensors. The Company offers a range of optical and electro-mechanical capabilities across the manufacturing process, including process design and engineering, supply chain management, manufacturing, complex printed circuit board assembly, advanced packaging, integration, final assembly and test.
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