Fabrinet (FN) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Fabrinet (NYSE:FN) have earned a consensus recommendation of “Hold” from the nine research firms that are currently covering the company, MarketBeat reports. Two analysts have rated the stock with a sell rating, two have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $44.88.

Several research firms have recently weighed in on FN. Needham & Company LLC restated a “buy” rating on shares of Fabrinet in a research report on Thursday, October 12th. Zacks Investment Research upgraded Fabrinet from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 24th. B. Riley decreased their target price on Fabrinet from $46.50 to $42.50 and set a “buy” rating on the stock in a research report on Friday, November 3rd. JPMorgan Chase & Co. downgraded Fabrinet from an “overweight” rating to a “neutral” rating and set a $42.00 target price on the stock. in a research report on Tuesday, November 7th. Finally, Piper Jaffray Companies restated a “buy” rating on shares of Fabrinet in a research report on Friday, November 10th.

Fabrinet (NYSE:FN) opened at $29.25 on Tuesday. The firm has a market capitalization of $1,100.00, a P/E ratio of 11.65, a PEG ratio of 1.11 and a beta of 0.99. Fabrinet has a 1 year low of $28.60 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.

In related news, insider David T. Mitchell sold 50,000 shares of the stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $30.93, for a total value of $1,546,500.00. Following the completion of the sale, the insider now owns 111,057 shares of the company’s stock, valued at $3,434,993.01. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 3.30% of the stock is currently owned by company insiders.

Large investors have recently bought and sold shares of the stock. YorkBridge Wealth Partners LLC increased its stake in 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 acquiring an additional 338 shares during the last quarter. Riverhead Capital Management LLC increased its stake in 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 acquiring an additional 1,164 shares during the last quarter. Flinton Capital Management LLC increased its stake in 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 acquiring an additional 1,428 shares during the last quarter. SG Americas Securities LLC acquired a new stake in Fabrinet during the third quarter worth $161,000. Finally, Russell Investments Group Ltd. increased its stake in 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 acquiring an additional 2,810 shares during the last quarter. 94.23% of the stock is owned by hedge funds and other institutional investors.

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Fabrinet Company Profile

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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