Fabrinet (NYSE:FN) has earned an average rating of “Buy” from the eight analysts that are presently covering the company, Marketbeat.com reports. Three analysts have rated the stock with a hold recommendation, four have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $52.44.
A number of equities research analysts recently weighed in on FN shares. Zacks Investment Research lowered shares of Fabrinet from a “hold” rating to a “sell” rating in a report on Tuesday, May 2nd. Needham & Company LLC reissued a “strong-buy” rating and set a $56.00 target price on shares of Fabrinet in a research report on Tuesday, May 9th. Stifel Nicolaus reissued a “buy” rating and set a $48.00 target price on shares of Fabrinet in a research report on Friday, July 14th. Piper Jaffray Companies reissued an “overweight” rating on shares of Fabrinet in a research report on Wednesday, May 10th. Finally, ValuEngine downgraded shares of Fabrinet from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd.
Fabrinet (NYSE FN) traded up 0.49% on Tuesday, hitting $45.06. The stock had a trading volume of 188,255 shares. The firm has a market capitalization of $1.68 billion, a price-to-earnings ratio of 18.94 and a beta of 1.08. Fabrinet has a 1-year low of $31.97 and a 1-year high of $49.63. The company’s 50 day moving average is $42.49 and its 200-day moving average is $40.37.
Fabrinet (NYSE:FN) last issued its quarterly earnings data on Monday, May 8th. The technology company reported $0.57 earnings per share for the quarter, missing the consensus estimate of $0.74 by $0.17. The business had revenue of $366.80 million during the quarter, compared to the consensus estimate of $362.07 million. Fabrinet had a return on equity of 14.95% and a net margin of 6.74%. The business’s revenue for the quarter was up 46.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.56 EPS. On average, analysts forecast that Fabrinet will post $3.36 EPS for the current year.
In related news, CEO David T. Mitchell sold 52,500 shares of the firm’s stock in a transaction that occurred on Thursday, June 1st. The shares were sold at an average price of $37.02, for a total value of $1,943,550.00. Following the completion of the transaction, the chief executive officer now directly owns 102,114 shares of the company’s stock, valued at approximately $3,780,260.28. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO David T. Mitchell sold 75,000 shares of the firm’s stock in a transaction that occurred on Monday, May 1st. The stock was sold at an average price of $34.73, for a total transaction of $2,604,750.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 180,000 shares of company stock valued at $6,712,350. 4.30% of the stock is owned by insiders.
A number of hedge funds have recently bought and sold shares of FN. BlackRock Inc. boosted its stake in Fabrinet by 60,498.5% in the first quarter. BlackRock Inc. now owns 4,311,581 shares of the technology company’s stock valued at $181,218,000 after buying an additional 4,304,466 shares in the last quarter. FMR LLC boosted its stake in Fabrinet by 23.9% in the fourth quarter. FMR LLC now owns 2,322,831 shares of the technology company’s stock valued at $93,610,000 after buying an additional 448,000 shares in the last quarter. Vanguard Group Inc. boosted its stake in Fabrinet by 6.9% in the first quarter. Vanguard Group Inc. now owns 1,893,564 shares of the technology company’s stock valued at $79,586,000 after buying an additional 121,411 shares in the last quarter. Congress Asset Management Co. MA boosted its stake in Fabrinet by 23.6% in the second quarter. Congress Asset Management Co. MA now owns 1,727,179 shares of the technology company’s stock valued at $73,681,000 after buying an additional 330,178 shares in the last quarter. Finally, Royce & Associates LP boosted its stake in Fabrinet by 372.7% in the first quarter. Royce & Associates LP now owns 997,915 shares of the technology company’s stock valued at $41,942,000 after buying an additional 786,799 shares in the last quarter. Institutional investors and hedge funds own 94.27% of the company’s stock.
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Fabrinet provides optical packaging and precision optical, electro-mechanical and electronic manufacturing services to original equipment manufacturers (OEMs) of products, such as optical communication components, modules and sub-systems, industrial lasers, medical devices and sensors. The Company offers a range of optical and electro-mechanical capabilities across the manufacturing process, including process design and engineering, supply chain management, manufacturing, complex printed circuit board assembly, advanced packaging, integration, final assembly and test.
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