Fabrinet’s (FN) Buy Rating Reiterated at Rosenblatt Securities

Rosenblatt Securities restated their buy rating on shares of Fabrinet (NYSE:FN) in a research report released on Friday morning,Benzinga reports. The firm currently has a $285.00 target price on the technology company’s stock.

A number of other analysts also recently issued reports on the stock. Fox Advisors initiated coverage on shares of Fabrinet in a report on Tuesday, February 18th. They set an “overweight” rating and a $270.00 price target on the stock. JPMorgan Chase & Co. dropped their target price on Fabrinet from $275.00 to $265.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 4th. Barclays lowered their price target on Fabrinet from $292.00 to $245.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 4th. B. Riley cut Fabrinet from a “neutral” rating to a “sell” rating and cut their price objective for the company from $194.00 to $178.00 in a research report on Wednesday, November 20th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $280.00 target price on shares of Fabrinet in a research report on Tuesday, February 4th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $246.63.

Fabrinet Stock Performance

NYSE:FN opened at $220.85 on Friday. The firm’s fifty day moving average is $219.44 and its two-hundred day moving average is $230.79. The firm has a market cap of $8.01 billion, a price-to-earnings ratio of 24.70 and a beta of 0.89. Fabrinet has a one year low of $159.69 and a one year high of $281.79.

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

Hedge Funds Weigh In On Fabrinet

Institutional investors and hedge funds have recently bought and sold shares of the business. Cim LLC boosted its holdings in shares of Fabrinet by 1.4% during the 4th quarter. Cim LLC now owns 6,013 shares of the technology company’s stock worth $1,322,000 after purchasing an additional 82 shares during the last quarter. Menard Financial Group LLC boosted its stake in Fabrinet by 34.1% during the fourth quarter. Menard Financial Group LLC now owns 1,707 shares of the technology company’s stock worth $375,000 after buying an additional 434 shares during the last quarter. Polar Asset Management Partners Inc. purchased a new stake in Fabrinet in the 4th quarter valued at $3,364,000. Orion Capital Management LLC purchased a new position in shares of Fabrinet during the 4th quarter worth $62,000. Finally, PharVision Advisers LLC purchased a new position in shares of Fabrinet during the 4th quarter worth $221,000. 97.38% of the stock is currently owned by institutional investors and hedge funds.

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.