Fabrinet (NYSE:FN) Now Covered by Analysts at Barclays

Barclays assumed coverage on shares of Fabrinet (NYSE:FN) in a report published on Thursday, MarketBeat reports. The firm issued an equal weight rating and a $292.00 price target on the technology company’s stock.

A number of other brokerages also recently weighed in on FN. B. Riley lowered their target price on shares of Fabrinet from $196.00 to $194.00 and set a “neutral” rating on the stock in a research note on Tuesday, November 5th. Needham & Company LLC began coverage on shares of Fabrinet in a research report on Tuesday, November 5th. They set a “buy” rating and a $280.00 price target on the stock. JPMorgan Chase & Co. boosted their target price on shares of Fabrinet from $240.00 to $285.00 and gave the company a “neutral” rating in a research note on Tuesday, August 20th. Finally, Rosenblatt Securities upped their target price on shares of Fabrinet from $260.00 to $280.00 and gave the stock a “buy” rating in a report on Tuesday, August 20th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $254.43.

Fabrinet Stock Performance

Shares of Fabrinet stock traded down $16.72 on Thursday, hitting $235.28. The stock had a trading volume of 533,032 shares, compared to its average volume of 490,376. The firm has a market capitalization of $8.53 billion, a P/E ratio of 28.73 and a beta of 0.95. Fabrinet has a twelve month low of $159.30 and a twelve month high of $278.38. The stock has a 50 day moving average of $241.87 and a 200 day moving average of $235.18.

Fabrinet (NYSE:FN) last announced its quarterly earnings data on Monday, November 4th. The technology company reported $2.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.38 by $0.01. The business had revenue of $804.20 million for the quarter, compared to analysts’ expectations of $771.24 million. Fabrinet had a return on equity of 18.08% and a net margin of 10.28%. The firm’s quarterly revenue was up 17.3% compared to the same quarter last year. During the same period in the previous year, the business posted $1.78 EPS. Equities analysts expect that Fabrinet will post 9.1 earnings per share for the current year.

Insider Buying and Selling at Fabrinet

In related news, CFO Csaba Sverha sold 100 shares of Fabrinet stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $270.00, for a total value of $27,000.00. Following the completion of the sale, the chief financial officer now directly owns 19,347 shares in the company, valued at $5,223,690. The trade was a 0.51 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Edward T. Archer sold 8,690 shares of the company’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $220.26, for a total transaction of $1,914,059.40. Following the completion of the sale, the executive vice president now directly owns 8,333 shares of the company’s stock, valued at $1,835,426.58. The trade was a 51.05 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 44,728 shares of company stock worth $11,645,062 over the last 90 days. Company insiders own 0.38% of the company’s stock.

Institutional Trading of Fabrinet

Several hedge funds and other institutional investors have recently bought and sold shares of FN. Epoch Investment Partners Inc. lifted its holdings in shares of Fabrinet by 291.0% during the 1st quarter. Epoch Investment Partners Inc. now owns 275,531 shares of the technology company’s stock valued at $52,081,000 after purchasing an additional 205,057 shares during the last quarter. Driehaus Capital Management LLC raised its position in shares of Fabrinet by 183.5% during the 2nd quarter. Driehaus Capital Management LLC now owns 277,978 shares of the technology company’s stock worth $68,046,000 after purchasing an additional 179,943 shares during the last quarter. Clearbridge Investments LLC acquired a new stake in Fabrinet in the 2nd quarter valued at about $27,911,000. Kennedy Capital Management LLC acquired a new stake in Fabrinet during the first quarter worth about $15,637,000. Finally, DekaBank Deutsche Girozentrale increased its stake in Fabrinet by 3,831.4% during the third quarter. DekaBank Deutsche Girozentrale now owns 82,088 shares of the technology company’s stock worth $19,465,000 after acquiring an additional 80,000 shares during the last quarter. Institutional investors own 97.38% of the company’s stock.

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 advanced optical and electro-mechanical capabilities in the manufacturing process, including process design and engineering, supply chain management, manufacturing, printed circuit board assembly, advanced packaging, integration, final assembly, and testing.