Brokerages Set Fabrinet (FN) Price Target at $48.46
Fabrinet (NYSE:FN) has been given a consensus rating of “Buy” by the seven analysts that are currently covering the company. One equities research analyst has rated the stock with a sell rating and six have issued a buy rating on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $48.46.
Several research analysts recently weighed in on FN shares. Needham & Company LLC boosted their target price on Fabrinet from $48.00 to $54.00 and gave the stock a “buy” rating in a research note on Tuesday, August 16th. Zacks Investment Research upgraded Fabrinet from a “hold” rating to a “strong-buy” rating and set a $46.00 price target on the stock in a research note on Wednesday, August 17th. Piper Jaffray Cos. reiterated an “overweight” rating and set a $50.00 price target on shares of Fabrinet in a research note on Tuesday, September 6th. Stifel Nicolaus boosted their price target on Fabrinet from $40.00 to $48.00 and gave the company a “buy” rating in a research note on Tuesday, August 16th. Finally, JPMorgan Chase & Co. reiterated a “buy” rating on shares of Fabrinet in a research note on Wednesday, July 20th.
Fabrinet (NYSE:FN) opened at 41.30 on Tuesday. The stock has a 50 day moving average price of $42.57 and a 200 day moving average price of $37.33. The company has a market cap of $1.50 billion, a P/E ratio of 24.58 and a beta of 0.66. Fabrinet has a 1-year low of $20.46 and a 1-year high of $46.50.
Fabrinet (NYSE:FN) last released its quarterly earnings results on Monday, August 15th. The company reported $0.60 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.60. The firm earned $276.40 million during the quarter, compared to analyst estimates of $262.95 million. Fabrinet had a return on equity of 13.07% and a net margin of 6.34%. The business’s revenue for the quarter was up 33.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.40 EPS. On average, equities research analysts anticipate that Fabrinet will post $2.02 EPS for the current fiscal year.
In related news, Director Rollance E. Olson sold 5,000 shares of the company’s stock in a transaction dated Monday, August 22nd. The stock was sold at an average price of $40.06, for a total value of $200,300.00. Following the completion of the transaction, the director now owns 44,829 shares of the company’s stock, valued at approximately $1,795,849.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO David T. Mitchell sold 75,000 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 725,533 shares of the company’s stock, valued at approximately $28,985,043.35. The disclosure for this sale can be found here. 5.90% of the stock is owned by insiders.
A number of institutional investors have recently added to or reduced their stakes in FN. Creative Planning boosted its position in Fabrinet by 49.5% in the third quarter. Creative Planning now owns 2,810 shares of the company’s stock worth $125,000 after buying an additional 930 shares during the last quarter. PineBridge Investments L.P. boosted its position in Fabrinet by 4.1% in the second quarter. PineBridge Investments L.P. now owns 3,886 shares of the company’s stock worth $144,000 after buying an additional 154 shares during the last quarter. Riverhead Capital Management LLC acquired a new position in Fabrinet during the first quarter worth $148,000. Teacher Retirement System of Texas boosted its position in Fabrinet by 13.8% in the second quarter. Teacher Retirement System of Texas now owns 4,223 shares of the company’s stock worth $157,000 after buying an additional 511 shares during the last quarter. Finally, Advisor Group Inc. acquired a new position in Fabrinet during the second quarter worth $159,000. 90.82% of the stock is owned by institutional investors.
Fabrinet Company Profile
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.
Receive News & Stock Ratings for Fabrinet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fabrinet and related stocks with our FREE daily email newsletter.