Fabrinet (FN) Lowered to “Hold” at ValuEngine

ValuEngine cut shares of Fabrinet (NYSE:FN) from a buy rating to a hold rating in a research note published on Sunday.

A number of other brokerages have also recently weighed in on FN. Piper Jaffray Companies reiterated a buy rating on shares of Fabrinet in a research report on Friday, November 10th. JPMorgan Chase & Co. cut Fabrinet from an overweight rating to a neutral rating and set a $42.00 price target on the stock. in a research report on Tuesday, November 7th. B. Riley lowered their price target on Fabrinet from $46.50 to $42.50 and set a buy rating on the stock in a research report on Friday, November 3rd. Zacks Investment Research cut Fabrinet from a hold rating to a sell rating in a research report on Friday, November 10th. Finally, Needham & Company LLC lowered their price target on Fabrinet from $60.00 to $45.00 and set a strong-buy rating on the stock in a research report on Tuesday, November 7th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. Fabrinet currently has an average rating of Hold and a consensus price target of $46.42.

Shares of Fabrinet (NYSE FN) opened at $28.70 on Friday. Fabrinet has a 1 year low of $28.35 and a 1 year high of $49.63. The stock has a market capitalization of $1,078.80, a P/E ratio of 11.43, a PEG ratio of 1.08 and a beta of 1.00. The company has a current ratio of 2.70, a quick ratio of 1.85 and a debt-to-equity ratio of 0.03.

In other news, insider David T. Mitchell sold 50,000 shares of the stock in a transaction on Friday, December 1st. The stock was sold at an average price of $30.93, for a total transaction of $1,546,500.00. Following the sale, the insider now owns 111,057 shares in the company, valued at $3,434,993.01. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 3.30% of the company’s stock.

Several hedge funds have recently made changes to their positions in FN. YorkBridge Wealth Partners LLC grew its holdings in shares of Fabrinet by 14.1% during the second quarter. YorkBridge Wealth Partners LLC now owns 2,727 shares of the technology company’s stock worth $117,000 after purchasing an additional 338 shares during the last quarter. Riverhead Capital Management LLC grew its holdings in shares of Fabrinet by 68.5% during the second quarter. Riverhead Capital Management LLC now owns 2,864 shares of the technology company’s stock worth $122,000 after purchasing an additional 1,164 shares during the last quarter. Flinton Capital Management LLC grew its holdings in shares of Fabrinet by 62.7% during the second quarter. Flinton Capital Management LLC now owns 3,706 shares of the technology company’s stock worth $158,000 after purchasing an additional 1,428 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of Fabrinet during the third quarter worth $161,000. Finally, Russell Investments Group Ltd. grew its holdings in shares of Fabrinet by 139.7% during the third quarter. Russell Investments Group Ltd. now owns 4,821 shares of the technology company’s stock worth $179,000 after purchasing an additional 2,810 shares during the last quarter. Institutional investors own 94.23% of the company’s stock.

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About Fabrinet

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.

Analyst Recommendations for Fabrinet (NYSE:FN)

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