Brokerages Set Fabrinet (FN) Target Price at $54.60

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Shares of Fabrinet (NYSE:FN) have been assigned a consensus recommendation of “Buy” from the seven analysts that are currently covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $56.50.

A number of analysts have recently commented on FN shares. Zacks Investment Research raised shares of Fabrinet from a “hold” rating to a “buy” rating and set a $66.00 price objective on the stock in a research report on Monday. Needham & Company LLC boosted their price objective on shares of Fabrinet from $62.00 to $68.00 and gave the stock a “buy” rating in a research report on Monday, May 6th. ValuEngine raised shares of Fabrinet from a “hold” rating to a “buy” rating in a research report on Saturday, April 13th. Finally, Piper Jaffray Companies boosted their price objective on shares of Fabrinet from $63.00 to $67.00 and gave the stock an “overweight” rating in a research report on Thursday, March 28th.

In related news, Director Rollance E. Olson sold 5,000 shares of the business’s stock in a transaction on Tuesday, February 19th. The shares were sold at an average price of $55.62, for a total transaction of $278,100.00. Following the transaction, the director now directly owns 47,410 shares in the company, valued at $2,636,944.20. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director David T. Mitchell sold 30,000 shares of the business’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $52.57, for a total transaction of $1,577,100.00. Following the transaction, the director now owns 73,748 shares in the company, valued at $3,876,932.36. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 119,518 shares of company stock worth $6,797,384. 1.90% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently modified their holdings of the stock. Nkcfo LLC acquired a new position in shares of Fabrinet in the fourth quarter valued at $30,000. Macquarie Group Ltd. acquired a new position in shares of Fabrinet in the fourth quarter valued at $31,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Fabrinet in the first quarter valued at $35,000. Covington Capital Management acquired a new position in shares of Fabrinet in the fourth quarter valued at $108,000. Finally, Acadian Asset Management LLC acquired a new position in shares of Fabrinet in the fourth quarter valued at $118,000. Institutional investors and hedge funds own 97.19% of the company’s stock.

Shares of FN stock traded down $6.28 during trading on Friday, reaching $47.82. The company’s stock had a trading volume of 1,236,404 shares, compared to its average volume of 415,215. The company has a quick ratio of 2.30, a current ratio of 3.23 and a debt-to-equity ratio of 0.07. The firm has a market cap of $1.94 billion, a PE ratio of 16.05, a P/E/G ratio of 1.36 and a beta of 0.63. Fabrinet has a one year low of $34.27 and a one year high of $62.31.

Fabrinet (NYSE:FN) last announced its quarterly earnings data on Monday, May 6th. The technology company reported $0.92 EPS for the quarter, topping the Zacks’ consensus estimate of $0.76 by $0.16. The business had revenue of $398.95 million for the quarter, compared to analyst estimates of $389.60 million. Fabrinet had a net margin of 7.27% and a return on equity of 15.60%. The firm’s revenue for the quarter was up 20.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.71 earnings per share. On average, equities analysts predict that Fabrinet will post 3.25 earnings per share for the current fiscal year.

Fabrinet Company Profile

Fabrinet provides optical packaging and precision optical, electro-mechanical, and electronic manufacturing services in North America, the Asia-Pacific, and Europe. The company offers a range of optical and electro-mechanical capabilities in the manufacturing process, including process design and engineering, supply chain management, manufacturing, printed circuit board assembly, packaging, integration, final assembly, and test.

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Analyst Recommendations for Fabrinet (NYSE:FN)

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