Analysts Set Fabrinet (NYSE:FN) Target Price at $219.00

Shares of Fabrinet (NYSE:FN) have been assigned a consensus rating of “Hold” from the seven research firms that are covering the company, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $219.00.

A number of research firms have recently issued reports on FN. Needham & Company LLC increased their price objective on shares of Fabrinet from $270.00 to $280.00 and gave the company a “buy” rating in a research note on Tuesday, August 20th. Jefferies Financial Group started coverage on Fabrinet in a report on Wednesday, June 26th. They issued a “hold” rating and a $230.00 price target on the stock. JPMorgan Chase & Co. upped their price objective on Fabrinet from $240.00 to $285.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 20th. B. Riley lifted their target price on Fabrinet from $171.00 to $196.00 and gave the company a “neutral” rating in a research note on Tuesday, August 20th. Finally, Rosenblatt Securities boosted their target price on shares of Fabrinet from $260.00 to $280.00 and gave the stock a “buy” rating in a report on Tuesday, August 20th.

Fabrinet Trading Up 0.1 %

Shares of FN stock opened at $234.23 on Friday. Fabrinet has a twelve month low of $149.19 and a twelve month high of $278.38. The stock has a fifty day simple moving average of $227.82 and a two-hundred day simple moving average of $220.77. The stock has a market capitalization of $8.47 billion, a price-to-earnings ratio of 31.11 and a beta of 0.96.

Fabrinet (NYSE:FN) last released its quarterly earnings data on Monday, August 19th. The technology company reported $2.41 earnings per share for the quarter, topping analysts’ consensus estimates of $2.06 by $0.35. Fabrinet had a net margin of 10.27% and a return on equity of 18.10%. The company had revenue of $753.26 million during the quarter, compared to analyst estimates of $732.63 million. During the same period in the prior year, the firm earned $1.68 earnings per share. The firm’s revenue for the quarter was up 14.8% compared to the same quarter last year. Research analysts predict that Fabrinet will post 9.11 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Csaba Sverha sold 100 shares of Fabrinet stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $270.00, for a total value of $27,000.00. Following the completion of the sale, the chief financial officer now directly owns 19,347 shares in the company, valued at approximately $5,223,690. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Csaba Sverha sold 100 shares of the firm’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $270.00, for a total value of $27,000.00. Following the completion of the transaction, the chief financial officer now owns 19,347 shares in the company, valued at approximately $5,223,690. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Seamus Grady sold 26,650 shares of the business’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $270.00, for a total value of $7,195,500.00. Following the sale, the chief executive officer now owns 37,643 shares in the company, valued at approximately $10,163,610. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 44,728 shares of company stock valued at $11,645,062. 0.51% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Fabrinet

A number of institutional investors have recently bought and sold shares of the business. Opal Wealth Advisors LLC acquired a new stake in shares of Fabrinet in the second quarter worth $28,000. Banque Cantonale Vaudoise purchased a new stake in Fabrinet in the second quarter valued at $35,000. Kimelman & Baird LLC acquired a new stake in Fabrinet during the 2nd quarter worth about $49,000. Parallel Advisors LLC lifted its holdings in shares of Fabrinet by 59.7% in the 4th quarter. Parallel Advisors LLC now owns 206 shares of the technology company’s stock valued at $39,000 after buying an additional 77 shares during the period. Finally, GAMMA Investing LLC boosted its stake in shares of Fabrinet by 60.6% in the first quarter. GAMMA Investing LLC now owns 289 shares of the technology company’s stock worth $55,000 after buying an additional 109 shares during the last quarter. 97.38% of the stock is owned by hedge funds and other institutional investors.

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.