Shares of Fabrinet (NYSE:FN) have been given a consensus rating of “Hold” by the seven brokerages that are currently covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating on the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $61.60.
A number of equities analysts have recently weighed in on the stock. Piper Jaffray Companies reduced their price target on shares of Fabrinet to $64.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 20th. JPMorgan Chase & Co. assumed coverage on shares of Fabrinet in a research report on Monday, July 29th. They set a “neutral” rating and a $57.00 price target on the stock. Stifel Nicolaus reduced their price target on shares of Fabrinet from $65.00 to $60.00 and set a “buy” rating on the stock in a research report on Tuesday, August 20th. ValuEngine cut shares of Fabrinet from a “hold” rating to a “sell” rating in a research report on Wednesday, October 2nd. Finally, Needham & Company LLC set a $70.00 price target on shares of Fabrinet and gave the stock a “buy” rating in a research report on Monday, August 26th.
In related news, Director David T. Mitchell sold 30,000 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $50.03, for a total value of $1,500,900.00. Following the sale, the director now directly owns 27,402 shares of the company’s stock, valued at approximately $1,370,922.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Toh-Seng Ng sold 5,000 shares of the business’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $53.70, for a total transaction of $268,500.00. Following the completion of the sale, the chief financial officer now directly owns 64,963 shares in the company, valued at $3,488,513.10. The disclosure for this sale can be found here. Insiders sold a total of 100,206 shares of company stock worth $5,242,670 over the last ninety days. 1.90% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of FN. Migdal Insurance & Financial Holdings Ltd. increased its stake in Fabrinet by 87.3% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,268 shares of the technology company’s stock valued at $63,000 after buying an additional 591 shares during the last quarter. USA Financial Portformulas Corp increased its stake in Fabrinet by 8.2% in the 2nd quarter. USA Financial Portformulas Corp now owns 3,308 shares of the technology company’s stock valued at $173,000 after buying an additional 251 shares during the last quarter. NumerixS Investment Technologies Inc increased its stake in Fabrinet by 78.9% in the 1st quarter. NumerixS Investment Technologies Inc now owns 3,400 shares of the technology company’s stock valued at $178,000 after buying an additional 1,500 shares during the last quarter. DekaBank Deutsche Girozentrale acquired a new stake in Fabrinet in the 2nd quarter valued at $181,000. Finally, Miles Capital Inc. increased its stake in Fabrinet by 6.2% in the 2nd quarter. Miles Capital Inc. now owns 4,762 shares of the technology company’s stock valued at $237,000 after buying an additional 278 shares during the last quarter. 95.31% of the stock is currently owned by institutional investors and hedge funds.
FN traded up $0.40 during trading on Monday, reaching $50.40. 147,100 shares of the company’s stock were exchanged, compared to its average volume of 403,638. The company’s fifty day moving average price is $51.72 and its 200-day moving average price is $52.37. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.33 and a current ratio of 3.27. Fabrinet has a fifty-two week low of $40.94 and a fifty-two week high of $62.31. The firm has a market capitalization of $1.84 billion, a PE ratio of 15.04 and a beta of 1.07.
Fabrinet (NYSE:FN) last released its earnings results on Monday, August 19th. The technology company reported $0.90 EPS for the quarter, topping analysts’ consensus estimates of $0.81 by $0.09. The firm had revenue of $405.10 million during the quarter, compared to analyst estimates of $399.22 million. Fabrinet had a net margin of 7.63% and a return on equity of 15.40%. The business’s quarterly revenue was up 17.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.81 EPS. Research analysts forecast that Fabrinet will post 3.26 earnings per share for the current fiscal year.
Fabrinet Company Profile
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 optical and electro-mechanical capabilities in the manufacturing process, including process design and engineering, supply chain management, manufacturing, printed circuit board assembly, packaging, integration, final assembly, and test.
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