Shares of Fabrinet (NYSE:FN) have been given a consensus rating of “Buy” by the seven ratings firms that are covering the stock. One investment analyst has rated the stock with a sell recommendation and six have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $48.46.

FN has been the topic of a number of recent research reports. Zacks Investment Research lowered shares of Fabrinet from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 5th. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Fabrinet in a research note on Wednesday, July 20th. Needham & Company LLC increased their price target on shares of Fabrinet from $45.00 to $48.00 and gave the company a “buy” rating in a research note on Monday, July 25th. B. Riley reiterated a “buy” rating and issued a $42.25 price target on shares of Fabrinet in a research note on Friday, August 12th. Finally, Stifel Nicolaus increased their price target on shares of Fabrinet from $40.00 to $48.00 and gave the company a “buy” rating in a research note on Tuesday, August 16th.

In other news, CEO David T. Mitchell sold 75,000 shares of the stock in a transaction that occurred on Thursday, August 18th. The stock was sold at an average price of $39.95, for a total value of $2,996,250.00. Following the completion of the sale, the chief executive officer now directly owns 725,533 shares of the company’s stock, valued at $28,985,043.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Rollance E. Olson sold 5,000 shares of the stock in a transaction that occurred on Monday, August 22nd. The shares were sold at an average price of $40.06, for a total value of $200,300.00. Following the completion of the sale, the director now directly owns 44,829 shares of the company’s stock, valued at $1,795,849.74. The disclosure for this sale can be found here. 5.90% of the stock is owned by insiders.

Large investors have recently modified their holdings of the company. TIAA CREF Investment Management LLC increased its stake in shares of Fabrinet by 8.5% in the first quarter. TIAA CREF Investment Management LLC now owns 192,056 shares of the company’s stock valued at $6,213,000 after buying an additional 15,099 shares in the last quarter. Teachers Advisors Inc. increased its stake in shares of Fabrinet by 2.4% in the first quarter. Teachers Advisors Inc. now owns 55,586 shares of the company’s stock valued at $1,798,000 after buying an additional 1,297 shares in the last quarter. Prudential Financial Inc. increased its stake in shares of Fabrinet by 20.0% in the first quarter. Prudential Financial Inc. now owns 83,329 shares of the company’s stock valued at $2,696,000 after buying an additional 13,900 shares in the last quarter. BlackRock Group LTD increased its stake in shares of Fabrinet by 18.8% in the first quarter. BlackRock Group LTD now owns 37,024 shares of the company’s stock valued at $1,198,000 after buying an additional 5,846 shares in the last quarter. Finally, BlackRock Institutional Trust Company N.A. increased its stake in shares of Fabrinet by 22.5% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 704,816 shares of the company’s stock valued at $22,801,000 after buying an additional 129,290 shares in the last quarter. 90.82% of the stock is owned by hedge funds and other institutional investors.

Shares of Fabrinet (NYSE:FN) opened at 41.19 on Tuesday. The firm has a market capitalization of $1.49 billion, a PE ratio of 24.52 and a beta of 0.66. Fabrinet has a 52 week low of $20.13 and a 52 week high of $46.50. The firm’s 50-day moving average is $42.51 and its 200 day moving average is $37.26.

Fabrinet (NYSE:FN) last issued its quarterly earnings results on Monday, August 15th. The company reported $0.60 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.60. The company had revenue of $276.40 million for the quarter, compared to analyst estimates of $262.95 million. Fabrinet had a net margin of 6.34% and a return on equity of 13.07%. The business’s revenue for the quarter was up 33.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.40 earnings per share. On average, equities analysts forecast that Fabrinet will post $2.02 earnings per share for the current year.

About Fabrinet

Fabrinet provides optical packaging and precision optical, electro-mechanical and electronic manufacturing services to original equipment manufacturers (OEMs) of complex 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 entire manufacturing process, including process design and engineering, supply chain management, manufacturing, complex printed circuit board assembly, advanced packaging, integration, final assembly and test.

5 Day Chart for NYSE:FN

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