Fabrinet (NYSE:FN) Receives $65.00 Average PT from Brokerages

Fabrinet (NYSE:FN) has been given a consensus recommendation of “Buy” by the seven ratings firms that are presently covering the stock, Marketbeat.com reports. Three investment analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year price target among analysts that have covered the stock in the last year is $65.00.

FN has been the topic of several research analyst reports. Piper Jaffray Companies upped their price objective on shares of Fabrinet from $64.00 to $68.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. ValuEngine upgraded shares of Fabrinet from a “sell” rating to a “hold” rating in a research report on Friday, November 1st. Northland Securities restated a “buy” rating and issued a $70.00 price objective on shares of Fabrinet in a research report on Thursday, November 14th. Zacks Investment Research cut shares of Fabrinet from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Finally, Needham & Company LLC restated a “buy” rating and issued a $70.00 price objective on shares of Fabrinet in a research report on Monday, January 6th.

Shares of FN opened at $66.66 on Wednesday. The business’s 50-day moving average price is $63.59 and its 200-day moving average price is $56.09. Fabrinet has a twelve month low of $42.33 and a twelve month high of $67.17. The stock has a market cap of $2.47 billion, a PE ratio of 21.03, a P/E/G ratio of 1.61 and a beta of 1.08. The company has a quick ratio of 2.26, a current ratio of 3.25 and a debt-to-equity ratio of 0.06.

Fabrinet (NYSE:FN) last announced its quarterly earnings results on Monday, November 4th. The technology company reported $0.86 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.72 by $0.14. Fabrinet had a return on equity of 14.48% and a net margin of 7.41%. The firm had revenue of $399.00 million for the quarter, compared to analysts’ expectations of $390.30 million. During the same period in the prior year, the business posted $0.92 earnings per share. The company’s revenue was up 5.8% on a year-over-year basis. Analysts expect that Fabrinet will post 3.18 earnings per share for the current fiscal year.

In other Fabrinet news, CEO Seamus Grady sold 6,082 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $57.19, for a total value of $347,829.58. Following the completion of the sale, the chief executive officer now owns 105,597 shares of the company’s stock, valued at $6,039,092.43. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director David T. Mitchell sold 30,000 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $56.93, for a total value of $1,707,900.00. Following the completion of the sale, the director now directly owns 27,402 shares of the company’s stock, valued at approximately $1,559,995.86. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 124,047 shares of company stock worth $7,497,064. 1.00% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently modified their holdings of the business. FinTrust Capital Advisors LLC purchased a new stake in shares of Fabrinet during the third quarter valued at approximately $32,000. First Interstate Bank purchased a new stake in shares of Fabrinet during the third quarter valued at approximately $76,000. Fox Run Management L.L.C. purchased a new stake in shares of Fabrinet during the third quarter valued at approximately $227,000. Eqis Capital Management Inc. purchased a new stake in shares of Fabrinet during the third quarter valued at approximately $246,000. Finally, Oppenheimer Asset Management Inc. purchased a new stake in shares of Fabrinet during the third quarter valued at approximately $321,000. 97.37% of the stock is owned by institutional investors and hedge funds.

About Fabrinet

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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Analyst Recommendations for Fabrinet (NYSE:FN)

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