Brokerages Set Fabrinet (NYSE:FN) PT at $219.00

Fabrinet (NYSE:FN) has been given an average recommendation of “Hold” by the seven analysts that are covering the stock, MarketBeat reports. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $219.00.

A number of equities analysts have issued reports on FN shares. Rosenblatt Securities raised their target price on Fabrinet from $260.00 to $280.00 and gave the stock a “buy” rating in a report on Tuesday, August 20th. JPMorgan Chase & Co. boosted their price objective on shares of Fabrinet from $240.00 to $285.00 and gave the company a “neutral” rating in a report on Tuesday, August 20th. B. Riley increased their target price on shares of Fabrinet from $171.00 to $196.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. Finally, Needham & Company LLC boosted their price target on shares of Fabrinet from $270.00 to $280.00 and gave the company a “buy” rating in a report on Tuesday, August 20th.

Insider Buying and Selling

In other news, EVP Edward T. Archer sold 8,690 shares of the business’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $220.26, for a total value of $1,914,059.40. Following the sale, the executive vice president now directly owns 8,333 shares in the company, valued at $1,835,426.58. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Fabrinet news, CFO Csaba Sverha sold 100 shares of the business’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $270.00, for a total transaction of $27,000.00. Following the sale, the chief financial officer now directly owns 19,347 shares of the company’s stock, valued at $5,223,690. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Edward T. Archer sold 8,690 shares of Fabrinet stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $220.26, for a total value of $1,914,059.40. Following the completion of the sale, the executive vice president now directly owns 8,333 shares in the company, valued at approximately $1,835,426.58. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 44,728 shares of company stock valued at $11,645,062. Company insiders own 0.51% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. nVerses Capital LLC acquired a new stake in shares of Fabrinet in the 3rd quarter valued at approximately $567,000. Norden Group LLC lifted its stake in Fabrinet by 1,775.2% in the first quarter. Norden Group LLC now owns 28,616 shares of the technology company’s stock valued at $5,409,000 after acquiring an additional 27,090 shares during the last quarter. Pitcairn Co. acquired a new position in shares of Fabrinet during the 1st quarter worth about $544,000. Seven Eight Capital LP bought a new stake in shares of Fabrinet in the 1st quarter valued at about $1,588,000. Finally, DekaBank Deutsche Girozentrale lifted its stake in Fabrinet by 27.4% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 79,088 shares of the technology company’s stock valued at $15,036,000 after purchasing an additional 17,000 shares during the last quarter. 97.38% of the stock is currently owned by institutional investors.

Fabrinet Trading Down 0.7 %

Shares of NYSE FN opened at $250.68 on Thursday. Fabrinet has a 1 year low of $149.19 and a 1 year high of $278.38. The firm’s 50-day moving average is $239.97 and its 200-day moving average is $229.28. The firm has a market capitalization of $9.06 billion, a PE ratio of 33.29 and a beta of 0.95.

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