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.
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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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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