Fabrinet (NYSE:FN) Receives “Buy” Rating from Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Fabrinet (NYSE:FN) in a research report released on Tuesday,Benzinga reports. Needham & Company LLC currently has a $280.00 price target on the technology company’s stock.

A number of other research analysts have also recently commented on FN. B. Riley raised Fabrinet from a “sell” rating to a “neutral” rating and reduced their target price for the company from $178.00 to $176.00 in a research note on Friday, April 4th. Rosenblatt Securities decreased their price objective on Fabrinet from $280.00 to $230.00 and set a “buy” rating on the stock in a report on Tuesday, April 22nd. Barclays cut their target price on Fabrinet from $292.00 to $245.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 4th. Fox Advisors started coverage on shares of Fabrinet in a research note on Tuesday, February 18th. They set an “overweight” rating and a $270.00 price target on the stock. Finally, JPMorgan Chase & Co. cut their price objective on shares of Fabrinet from $265.00 to $220.00 and set a “neutral” rating for the company in a research note on Thursday, April 17th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $239.29.

Fabrinet Stock Down 7.2 %

NYSE:FN opened at $204.95 on Tuesday. The stock has a market cap of $7.34 billion, a P/E ratio of 22.93 and a beta of 0.95. The business’s 50-day moving average price is $199.00 and its two-hundred day moving average price is $220.77. Fabrinet has a twelve month low of $148.55 and a twelve month high of $281.79.

Fabrinet (NYSE:FN) last announced its earnings results on Monday, May 5th. The technology company reported $2.52 earnings per share for the quarter, beating analysts’ consensus estimates of $2.47 by $0.05. Fabrinet had a net margin of 10.44% and a return on equity of 18.48%. The business had revenue of $871.80 million for the quarter, compared to the consensus estimate of $857.12 million. During the same period last year, the firm posted $2.39 earnings per share. Fabrinet’s quarterly revenue was up 19.2% on a year-over-year basis. On average, equities research analysts expect that Fabrinet will post 9.4 EPS for the current fiscal year.

Institutional Trading of Fabrinet

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Wayfinding Financial LLC bought a new position in shares of Fabrinet in the first quarter worth approximately $30,000. Berbice Capital Management LLC purchased a new stake in Fabrinet during the 1st quarter valued at $30,000. Private Trust Co. NA grew its holdings in Fabrinet by 44.3% in the 1st quarter. Private Trust Co. NA now owns 166 shares of the technology company’s stock worth $33,000 after acquiring an additional 51 shares during the last quarter. SBI Securities Co. Ltd. increased its position in shares of Fabrinet by 93.5% in the first quarter. SBI Securities Co. Ltd. now owns 180 shares of the technology company’s stock valued at $36,000 after acquiring an additional 87 shares during the period. Finally, Versant Capital Management Inc raised its stake in shares of Fabrinet by 353.7% during the first quarter. Versant Capital Management Inc now owns 186 shares of the technology company’s stock valued at $37,000 after acquiring an additional 145 shares during the last quarter. Institutional investors own 97.38% of the company’s stock.

Fabrinet Company Profile

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.