Fabrinet (NYSE:FN) has received an average recommendation of “Hold” from the nine research firms that are presently covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation, two have given a hold recommendation, four have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $44.88.
A number of equities research analysts have weighed in on the stock. JPMorgan Chase & Co. downgraded shares of Fabrinet from an “overweight” rating to a “neutral” rating and set a $42.00 price target for the company. in a report on Tuesday, November 7th. Needham & Company LLC cut their price target on shares of Fabrinet from $60.00 to $45.00 and set a “strong-buy” rating for the company in a report on Tuesday, November 7th. ValuEngine downgraded shares of Fabrinet from a “buy” rating to a “hold” rating in a report on Sunday, December 31st. Piper Jaffray Companies reissued a “buy” rating on shares of Fabrinet in a report on Friday, November 10th. Finally, B. Riley cut their price target on shares of Fabrinet from $46.50 to $42.50 and set a “buy” rating for the company in a report on Friday, November 3rd.
Shares of Fabrinet (NYSE:FN) opened at $27.74 on Friday. Fabrinet has a 1-year low of $27.35 and a 1-year high of $49.63. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.70 and a quick ratio of 1.85. The firm has a market cap of $1,040.00, a PE ratio of 11.05, a price-to-earnings-growth ratio of 1.10 and a beta of 1.00.
Fabrinet (NYSE:FN) last issued its quarterly earnings results on Monday, November 6th. The technology company reported $0.55 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.62 by ($0.07). Fabrinet had a net margin of 6.60% and a return on equity of 14.35%. equities research analysts anticipate that Fabrinet will post 2.22 earnings per share for the current fiscal year.
In other Fabrinet news, insider David T. Mitchell sold 8,600 shares of the company’s stock in a transaction dated Monday, January 8th. The shares were sold at an average price of $30.02, for a total transaction of $258,172.00. Following the completion of the sale, the insider now directly owns 111,057 shares of the company’s stock, valued at $3,333,931.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider David T. Mitchell sold 50,000 shares of the company’s stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $30.93, for a total transaction of $1,546,500.00. Following the sale, the insider now directly owns 111,057 shares of the company’s stock, valued at $3,434,993.01. The disclosure for this sale can be found here. Insiders have sold 108,600 shares of company stock valued at $3,306,172 over the last ninety days. Insiders own 3.30% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the company. YorkBridge Wealth Partners LLC increased its holdings in shares of Fabrinet by 14.1% in the 2nd quarter. YorkBridge Wealth Partners LLC now owns 2,727 shares of the technology company’s stock valued at $117,000 after purchasing an additional 338 shares during the period. Riverhead Capital Management LLC increased its holdings in shares of Fabrinet by 68.5% in the 2nd quarter. Riverhead Capital Management LLC now owns 2,864 shares of the technology company’s stock valued at $122,000 after purchasing an additional 1,164 shares during the period. Flinton Capital Management LLC increased its holdings in shares of Fabrinet by 62.7% in the 2nd quarter. Flinton Capital Management LLC now owns 3,706 shares of the technology company’s stock valued at $158,000 after purchasing an additional 1,428 shares during the period. SG Americas Securities LLC acquired a new position in shares of Fabrinet in the 3rd quarter valued at about $161,000. Finally, Russell Investments Group Ltd. increased its holdings in shares of Fabrinet by 139.7% in the 3rd quarter. Russell Investments Group Ltd. now owns 4,821 shares of the technology company’s stock valued at $179,000 after purchasing an additional 2,810 shares during the period. Institutional investors own 94.61% 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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