Fabrinet (NYSE:FN) has been assigned an average recommendation of “Hold” from the nine research firms that are currently covering the company, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation, two have given a hold recommendation, four have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $44.88.

Several brokerages have recently commented on FN. Zacks Investment Research upgraded Fabrinet from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 24th. Needham & Company LLC reiterated a “buy” rating on shares of Fabrinet in a research report on Thursday, October 12th. B. Riley reduced their price objective on Fabrinet from $46.50 to $42.50 and set a “buy” rating on the stock in a research report on Friday, November 3rd. JPMorgan Chase & Co. lowered Fabrinet from an “overweight” rating to a “neutral” rating and set a $42.00 price objective on the stock. in a research report on Tuesday, November 7th. Finally, Piper Jaffray Companies reiterated a “buy” rating on shares of Fabrinet in a research report on Friday, November 10th.

In other Fabrinet news, insider David T. Mitchell sold 8,600 shares of the stock in a transaction that occurred on Monday, January 8th. The stock was sold at an average price of $30.02, for a total value of $258,172.00. Following the completion of the sale, the insider now owns 111,057 shares in the company, valued at approximately $3,333,931.14. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider David T. Mitchell sold 50,000 shares of the stock in a transaction that occurred on Thursday, November 9th. The stock was sold at an average price of $30.03, for a total value of $1,501,500.00. Following the completion of the sale, the insider now owns 111,057 shares of the company’s stock, valued at approximately $3,335,041.71. The disclosure for this sale can be found here. Insiders have sold a total of 108,600 shares of company stock valued at $3,306,172 over the last 90 days. 3.30% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Schwab Charles Investment Management Inc. lifted its holdings in Fabrinet by 6.9% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 234,042 shares of the technology company’s stock worth $6,718,000 after buying an additional 15,111 shares during the period. Wasatch Advisors Inc. lifted its holdings in Fabrinet by 0.8% in the 4th quarter. Wasatch Advisors Inc. now owns 572,294 shares of the technology company’s stock worth $16,425,000 after buying an additional 4,657 shares during the period. Cubist Systematic Strategies LLC purchased a new stake in Fabrinet in the 3rd quarter worth approximately $477,000. Legion Partners Asset Management LLC lifted its holdings in Fabrinet by 47.1% in the 3rd quarter. Legion Partners Asset Management LLC now owns 736,709 shares of the technology company’s stock worth $27,302,000 after buying an additional 235,900 shares during the period. Finally, Alyeska Investment Group L.P. lifted its holdings in Fabrinet by 88.5% in the 3rd quarter. Alyeska Investment Group L.P. now owns 333,228 shares of the technology company’s stock worth $12,349,000 after buying an additional 156,416 shares during the period. Institutional investors and hedge funds own 94.56% of the company’s stock.

Shares of Fabrinet (NYSE FN) traded up $0.42 during trading on Friday, hitting $26.42. The stock had a trading volume of 995,819 shares, compared to its average volume of 536,846. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.70 and a quick ratio of 1.85. The company has a market cap of $993.09, a price-to-earnings ratio of 10.53, a PEG ratio of 1.04 and a beta of 1.00. Fabrinet has a 12-month low of $25.92 and a 12-month high of $49.63.

Fabrinet (NYSE:FN) last announced its quarterly earnings data on Monday, November 6th. The technology company reported $0.55 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.07). Fabrinet had a net margin of 6.60% and a return on equity of 14.35%. analysts expect that Fabrinet will post 2.22 EPS for the current year.

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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)

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