BidaskClub cut shares of Fabrinet (NYSE:FN) from a hold rating to a sell rating in a research report released on Monday.

Several other equities analysts also recently commented on the company. Zacks Investment Research downgraded Fabrinet from a hold rating to a sell rating in a research report on Tuesday, May 2nd. Needham & Company LLC boosted their price objective on Fabrinet from $56.00 to $60.00 and gave the company a strong-buy rating in a research report on Monday, June 26th. Piper Jaffray Companies restated an overweight rating on shares of Fabrinet in a research report on Wednesday, May 10th. ValuEngine downgraded Fabrinet from a buy rating to a hold rating in a research report on Friday, June 2nd. Finally, J P Morgan Chase & Co set a $57.00 price objective on Fabrinet and gave the company a buy rating in a research report on Thursday, June 1st. One investment analyst has rated the stock with a sell rating, one has given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of Buy and a consensus price target of $52.46.

Shares of Fabrinet (NYSE FN) traded down 1.70% during mid-day trading on Monday, reaching $42.26. The company had a trading volume of 301,255 shares. The firm has a 50 day moving average of $42.89 and a 200-day moving average of $40.59. Fabrinet has a one year low of $31.97 and a one year high of $49.63. The stock has a market capitalization of $1.58 billion, a P/E ratio of 17.76 and a beta of 1.08.

Fabrinet (NYSE:FN) last released its quarterly earnings results on Monday, May 8th. The technology company reported $0.57 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.74 by $0.17. Fabrinet had a net margin of 6.74% and a return on equity of 14.95%. The company had revenue of $366.80 million for the quarter, compared to the consensus estimate of $362.07 million. During the same period in the prior year, the firm posted $0.56 EPS. The business’s revenue for the quarter was up 46.1% on a year-over-year basis. Analysts forecast that Fabrinet will post $3.36 EPS for the current fiscal year.

TRADEMARK VIOLATION NOTICE: “Fabrinet (FN) Downgraded to Sell at BidaskClub” was originally reported by The Cerbat Gem and is the property of of The Cerbat Gem. If you are reading this piece of content on another site, it was stolen and republished in violation of US & international trademark and copyright law. The original version of this piece of content can be viewed at https://www.thecerbatgem.com/2017/08/04/fabrinet-fn-downgraded-to-sell-at-bidaskclub.html.

In other Fabrinet news, CEO David T. Mitchell sold 52,500 shares of the company’s stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $41.22, for a total transaction of $2,164,050.00. Following the sale, the chief executive officer now directly owns 42,631 shares in the company, valued at $1,757,249.82. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 4.30% of the company’s stock.

Large investors have recently modified their holdings of the stock. Tower Research Capital LLC TRC increased its stake in shares of Fabrinet by 1.9% in the first quarter. Tower Research Capital LLC TRC now owns 2,608 shares of the technology company’s stock worth $110,000 after buying an additional 48 shares during the period. Quantbot Technologies LP boosted its position in Fabrinet by 55.0% in the first quarter. Quantbot Technologies LP now owns 2,755 shares of the technology company’s stock worth $115,000 after buying an additional 978 shares in the last quarter. Ameritas Investment Partners Inc. acquired a new position in Fabrinet during the first quarter worth approximately $127,000. PNC Financial Services Group Inc. boosted its position in Fabrinet by 63.3% in the first quarter. PNC Financial Services Group Inc. now owns 3,038 shares of the technology company’s stock worth $129,000 after buying an additional 1,178 shares in the last quarter. Finally, LS Investment Advisors LLC boosted its position in Fabrinet by 196.1% in the first quarter. LS Investment Advisors LLC now owns 3,903 shares of the technology company’s stock worth $164,000 after buying an additional 2,585 shares in the last quarter. Institutional investors and hedge funds own 93.69% of the company’s stock.

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)

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.