Fabrinet (NYSE:FN) has earned an average recommendation of “Hold” from the nine brokerages that are presently covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $44.88.

Several research firms have weighed in on FN. Piper Jaffray Companies reiterated a “buy” rating on shares of Fabrinet in a report on Friday, November 10th. Zacks Investment Research lowered shares of Fabrinet from a “hold” rating to a “sell” rating in a report on Friday, November 10th. Needham & Company LLC decreased their target price on shares of Fabrinet from $60.00 to $45.00 and set a “strong-buy” rating on the stock in a report on Tuesday, November 7th. J P Morgan Chase & Co lowered shares of Fabrinet from an “overweight” rating to a “neutral” rating and set a $42.00 target price on the stock. in a report on Tuesday, November 7th. Finally, B. Riley decreased their target price on shares of Fabrinet from $46.50 to $42.50 and set a “buy” rating on the stock in a report on Friday, November 3rd.

Fabrinet (NYSE:FN) traded down $0.19 on Friday, reaching $31.26. 301,080 shares of the company were exchanged, compared to its average volume of 669,158. The firm has a market capitalization of $1,180.00, a price-to-earnings ratio of 12.53, a PEG ratio of 1.18 and a beta of 0.99. Fabrinet has a 52-week low of $28.60 and a 52-week high of $49.63. The company has a quick ratio of 1.85, a current ratio of 2.70 and a debt-to-equity ratio of 0.03.

Fabrinet declared that its board has authorized a stock repurchase plan on Monday, August 21st that permits the company to repurchase $30.00 million in outstanding shares. This repurchase authorization permits the technology company to purchase up to 21% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

In other Fabrinet news, insider David T. Mitchell sold 50,000 shares of the business’s stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $30.93, for a total value of $1,546,500.00. Following the transaction, the insider now directly owns 111,057 shares in the company, valued at approximately $3,434,993.01. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 3.30% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in FN. Vanguard Group Inc. raised its stake in shares of Fabrinet by 6.9% in the 1st quarter. Vanguard Group Inc. now owns 1,893,564 shares of the technology company’s stock valued at $79,586,000 after acquiring an additional 121,411 shares during the period. Louisiana State Employees Retirement System raised its stake in shares of Fabrinet by 0.7% in the 2nd quarter. Louisiana State Employees Retirement System now owns 15,200 shares of the technology company’s stock valued at $648,000 after acquiring an additional 100 shares during the period. Aperio Group LLC raised its stake in shares of Fabrinet by 3.7% in the 2nd quarter. Aperio Group LLC now owns 5,847 shares of the technology company’s stock valued at $249,000 after acquiring an additional 209 shares during the period. Municipal Employees Retirement System of Michigan raised its stake in shares of Fabrinet by 32.3% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 11,140 shares of the technology company’s stock valued at $475,000 after acquiring an additional 2,720 shares during the period. Finally, NGAM Advisors L.P. raised its stake in shares of Fabrinet by 1.3% in the 2nd quarter. NGAM Advisors L.P. now owns 23,032 shares of the technology company’s stock valued at $983,000 after acquiring an additional 298 shares during the period. 94.65% of the stock is currently owned by institutional investors and hedge funds.

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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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