Analysts Set Fabrinet (NYSE:FN) PT at $250.43

Shares of Fabrinet (NYSE:FN) have earned a consensus rating of “Hold” from the seven brokerages that are covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating on the company. The average 12-month target price among brokers that have covered the stock in the last year is $250.43.

A number of analysts recently issued reports on FN shares. Needham & Company LLC reissued a “buy” rating and set a $280.00 price objective on shares of Fabrinet in a research report on Monday, March 17th. Rosenblatt Securities reaffirmed a “buy” rating and set a $285.00 price target on shares of Fabrinet in a research note on Friday, March 14th. Barclays lowered their price target 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. JPMorgan Chase & Co. dropped their price objective on Fabrinet from $275.00 to $265.00 and set a “neutral” rating on the stock in a report on Tuesday, February 4th. Finally, Fox Advisors began coverage on shares of Fabrinet in a research note on Tuesday, February 18th. They issued an “overweight” rating and a $270.00 target price for the company.

Institutional Investors Weigh In On Fabrinet

Several institutional investors and hedge funds have recently added to or reduced their stakes in FN. Norges Bank acquired a new stake in shares of Fabrinet in the fourth quarter worth $95,084,000. Capital Research Global Investors grew its stake in Fabrinet by 675.2% in the 4th quarter. Capital Research Global Investors now owns 417,020 shares of the technology company’s stock valued at $91,694,000 after buying an additional 363,228 shares during the last quarter. Wasatch Advisors LP raised its holdings in Fabrinet by 47.0% in the 4th quarter. Wasatch Advisors LP now owns 1,132,636 shares of the technology company’s stock worth $249,044,000 after acquiring an additional 362,064 shares during the period. Wedge Capital Management L L P NC acquired a new position in Fabrinet during the 4th quarter worth $63,222,000. Finally, FMR LLC lifted its position in Fabrinet by 13.1% during the 4th quarter. FMR LLC now owns 2,213,887 shares of the technology company’s stock worth $486,789,000 after acquiring an additional 257,164 shares during the last quarter. 97.38% of the stock is currently owned by institutional investors and hedge funds.

Fabrinet Stock Performance

FN stock opened at $222.77 on Friday. The firm has a 50 day simple moving average of $218.64 and a 200 day simple moving average of $230.46. Fabrinet has a 52 week low of $159.69 and a 52 week high of $281.79. The stock has a market cap of $8.08 billion, a P/E ratio of 24.92 and a beta of 0.89.

Fabrinet (NYSE:FN) last released its earnings results on Monday, February 3rd. The technology company reported $2.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.48 by ($0.10). Fabrinet had a return on equity of 18.48% and a net margin of 10.44%. Sell-side analysts predict that Fabrinet will post 9.4 EPS for the current year.

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.