Fabrinet (NYSE:FN) Price Target Raised to $235.00 at JPMorgan Chase & Co.

Fabrinet (NYSE:FN) had its price target lifted by JPMorgan Chase & Co. from $220.00 to $235.00 in a report published on Tuesday morning,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the technology company’s stock.

Several other research firms have also recently weighed in on FN. Fox Advisors assumed coverage on Fabrinet in a research report on Tuesday, February 18th. They set an “overweight” rating and a $270.00 price objective for the company. Needham & Company LLC reaffirmed a “buy” rating and set a $280.00 price target on shares of Fabrinet in a research report on Tuesday. Rosenblatt Securities lifted their price objective on shares of Fabrinet from $230.00 to $250.00 and gave the company a “buy” rating in a report on Tuesday. Barclays set a $234.00 target price on shares of Fabrinet and gave the stock an “equal weight” rating in a report on Tuesday. Finally, B. Riley upgraded shares of Fabrinet from a “sell” rating to a “neutral” rating and lowered their price target for the company from $178.00 to $176.00 in a research note on Friday, April 4th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $239.29.

Fabrinet Trading Down 7.2 %

FN stock opened at $204.95 on Tuesday. Fabrinet has a 1-year low of $148.55 and a 1-year high of $281.79. The firm has a market cap of $7.34 billion, a PE 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 (NYSE:FN) last released its quarterly earnings data on Monday, May 5th. The technology company reported $2.52 earnings per share for the quarter, beating the consensus estimate of $2.47 by $0.05. Fabrinet had a return on equity of 18.48% and a net margin of 10.44%. The business had revenue of $871.80 million for the quarter, compared to analysts’ expectations of $857.12 million. During the same quarter in the previous year, the business posted $2.39 EPS. Fabrinet’s revenue for the quarter was up 19.2% on a year-over-year basis. On average, analysts forecast that Fabrinet will post 9.4 earnings per share for the current year.

Institutional Trading of Fabrinet

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