Fabrinet (NYSE:FN) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Fabrinet (NYSE:FN) have been assigned an average rating of “Moderate Buy” from the ten brokerages that are covering the stock, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $649.50.

Several research analysts have recently issued reports on FN shares. Rosenblatt Securities reaffirmed a “buy” rating and set a $750.00 price objective on shares of Fabrinet in a research report on Tuesday, August 18th. Barclays boosted their target price on Fabrinet from $702.00 to $739.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 18th. Weiss Ratings downgraded Fabrinet from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, September 9th. Zacks Research downgraded Fabrinet from a “strong-buy” rating to a “hold” rating in a report on Monday, June 15th. Finally, JPMorgan Chase & Co. increased their price target on shares of Fabrinet from $680.00 to $695.00 and gave the company a “neutral” rating in a research note on Tuesday, August 18th.

Insider Activity

In other news, EVP Edward Archer sold 2,500 shares of the company’s stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $385.91, for a total value of $964,775.00. Following the completion of the transaction, the executive vice president owned 7,007 shares in the company, valued at approximately $2,704,071.37. This represents a 26.30% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.24% of the company’s stock.

Hedge Funds Weigh In On Fabrinet

Several large investors have recently bought and sold shares of the stock. Core Wealth Advisors LLC purchased a new stake in shares of Fabrinet in the 4th quarter valued at about $25,000. Continuum Advisory LLC purchased a new position in Fabrinet during the 2nd quarter worth approximately $25,000. Harbour Investments Inc. grew its stake in Fabrinet by 75.0% during the 4th quarter. Harbour Investments Inc. now owns 63 shares of the technology company’s stock worth $29,000 after buying an additional 27 shares during the last quarter. Cassaday & Co Wealth Management LLC acquired a new position in Fabrinet during the first quarter worth approximately $31,000. Finally, Hazlett Burt & Watson Inc. increased its position in Fabrinet by 187.5% during the fourth quarter. Hazlett Burt & Watson Inc. now owns 115 shares of the technology company’s stock worth $52,000 after buying an additional 75 shares during the period. Institutional investors and hedge funds own 97.38% of the company’s stock.

Fabrinet Trading Up 3.4%

Shares of FN opened at $424.09 on Friday. Fabrinet has a twelve month low of $355.50 and a twelve month high of $748.89. The firm’s fifty day simple moving average is $450.21 and its 200-day simple moving average is $547.08. The firm has a market capitalization of $15.20 billion, a price-to-earnings ratio of 32.50 and a beta of 1.21.

Fabrinet (NYSE:FN) last released its quarterly earnings data on Tuesday, August 18th. The technology company reported $4.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.81 by $0.29. The business had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.28 billion. Fabrinet had a net margin of 10.19% and a return on equity of 21.23%. The company’s revenue for the quarter was up 44.6% on a year-over-year basis. During the same period in the previous year, the company earned $2.65 EPS. On average, analysts predict that Fabrinet will post 17.5 earnings per share for the current fiscal year.

About Fabrinet

Fabrinet (NYSE: FN) provides advanced manufacturing services for companies that develop optical, electro-optical, and precision-engineered products. The company supports customers from product design and engineering through manufacturing, assembly, testing, and supply-chain management.

Its products and manufacturing capabilities include optical communications components, modules, and assemblies; precision optical and optoelectronic systems; industrial lasers; and other complex products used in communications, industrial, automotive, medical, and other technology markets.