Fabrinet (NYSE:FN) Stock Has Average Target Price of $646.88 According to Analysts

Shares of Fabrinet (NYSE:FN – Get Free Report) have received a consensus recommendation of “Moderate Buy” from the ten ratings firms that are currently covering the firm, Marketbeat reports. Three analysts have rated the stock with a hold recommendation, six have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $650.62.

Several analysts recently issued reports on the company. Susquehanna cut their price target on Fabrinet from $850.00 to $600.00 and set a “positive” rating on the stock in a report on Wednesday. B. Riley Financial reduced their price objective on Fabrinet from $598.00 to $431.00 and set a “neutral” rating for the company in a research report on Thursday, October 15th. Weiss Ratings downgraded Fabrinet from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, September 9th. Zacks Research raised Fabrinet from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 5th. Finally, Fox Advisors raised Fabrinet from an “equal weight” rating to an “overweight” rating in a research report on Wednesday, August 19th.

Check Out Our Latest Research Report on FN

Fabrinet Stock Down 0.8%

FN opened at $315.09 on Tuesday. The firm has a market cap of $11.29 billion, a price-to-earnings ratio of 24.14 and a beta of 1.23. Fabrinet has a fifty-two week low of $305.63 and a fifty-two week high of $748.89. The company’s 50-day moving average price is $417.92 and its 200 day moving average price is $532.01.

Fabrinet (NYSE:FN – Get Free Report) last issued its earnings results on Tuesday, August 18th. The technology company reported $4.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.81 by $0.29. Fabrinet had a net margin of 10.19% and a return on equity of 21.23%. The firm had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $1.28 billion. During the same quarter last year, the company posted $2.65 earnings per share. Fabrinet’s revenue was up 44.6% on a year-over-year basis. Research analysts anticipate that Fabrinet will post 17.50 earnings per share for the current year.

Insider Activity at Fabrinet

In other news, EVP Edward Archer sold 2,500 shares of the company’s stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $385.91, for a total transaction 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.24% of the company’s stock.

Institutional Trading of Fabrinet

Several hedge funds have recently bought and sold shares of FN. Continuum Advisory LLC bought a new position in Fabrinet in the 2nd quarter worth about $25,000. Byrne Asset Management LLC acquired a new stake in shares of Fabrinet in the third quarter valued at approximately $27,000. Cassaday & Co Wealth Management LLC bought a new stake in shares of Fabrinet during the first quarter valued at approximately $31,000. Root Financial Partners LLC bought a new stake in shares of Fabrinet during the third quarter valued at approximately $40,000. Finally, Reyes Financial Architecture Inc. bought a new stake in shares of Fabrinet during the third quarter valued at approximately $52,000. 97.38% of the stock is currently owned by institutional investors.

Fabrinet Company Profile

(Get Free Report)

Fabrinet (NYSE: FN) is a provider of outsourced manufacturing services for complex optical, electronic and electromechanical products. The company works with original equipment manufacturers and other technology companies to design, manufacture, assemble, test and distribute products used in optical communications, industrial lasers, automotive applications, medical devices and other advanced technology markets.

Its capabilities include precision optical packaging, optical and electronic assembly, printed circuit board assembly, electromechanical manufacturing, engineering support, supply-chain management and testing.

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Analyst Recommendations for Fabrinet (NYSE:FN)

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