Fabrinet (FN) Receives $44.88 Average PT from Brokerages
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.
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.
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