Fabrinet (NYSE:FN) Given Consensus Recommendation of “Hold” by Analysts

Shares of Fabrinet (NYSE:FN) have been given a consensus recommendation of “Hold” by the seven research firms that are covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $252.14.

Several brokerages have recently issued reports on FN. Barclays started coverage on Fabrinet in a research note on Thursday, November 14th. They issued an “equal weight” rating and a $292.00 price objective for the company. B. Riley cut shares of Fabrinet from a “neutral” rating to a “sell” rating and decreased their price objective for the company from $194.00 to $178.00 in a research note on Wednesday, November 20th. Finally, Needham & Company LLC started coverage on shares of Fabrinet in a research note on Tuesday, November 5th. They issued a “buy” rating and a $280.00 price objective on the stock.

Fabrinet Trading Down 2.1 %

NYSE:FN opened at $228.67 on Tuesday. Fabrinet has a twelve month low of $159.69 and a twelve month high of $278.38. The company has a market cap of $8.29 billion, a PE ratio of 27.06 and a beta of 0.93. The company’s 50 day moving average is $234.92 and its two-hundred day moving average is $235.90.

Fabrinet (NYSE:FN) last announced its quarterly earnings data on Monday, November 4th. The technology company reported $2.39 earnings per share for the quarter, beating analysts’ consensus estimates of $2.38 by $0.01. The firm had revenue of $804.20 million for the quarter, compared to analyst estimates of $771.24 million. Fabrinet had a net margin of 10.28% and a return on equity of 18.08%. The business’s quarterly revenue was up 17.3% compared to the same quarter last year. During the same period in the previous year, the company earned $1.78 earnings per share. As a group, analysts expect that Fabrinet will post 9.1 EPS for the current fiscal year.

Hedge Funds Weigh In On Fabrinet

Large investors have recently made changes to their positions in the company. Huntington National Bank increased its holdings in Fabrinet by 70.4% in the third quarter. Huntington National Bank now owns 138 shares of the technology company’s stock valued at $33,000 after buying an additional 57 shares in the last quarter. Kimelman & Baird LLC purchased a new position in shares of Fabrinet in the 2nd quarter valued at about $49,000. NBC Securities Inc. raised its holdings in Fabrinet by 732.0% in the 3rd quarter. NBC Securities Inc. now owns 208 shares of the technology company’s stock worth $49,000 after purchasing an additional 183 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new position in Fabrinet during the third quarter worth approximately $52,000. Finally, UMB Bank n.a. grew its holdings in Fabrinet by 252.9% in the third quarter. UMB Bank n.a. now owns 240 shares of the technology company’s stock valued at $57,000 after purchasing an additional 172 shares during the period. 97.38% of the stock is currently 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 advanced optical and electro-mechanical capabilities in the manufacturing process, including process design and engineering, supply chain management, manufacturing, printed circuit board assembly, advanced packaging, integration, final assembly, and testing.