Shares of Fabrinet (NYSE:FN) have been assigned an average recommendation of “Buy” from the seven brokerages that are presently covering the firm, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $53.40.

A number of brokerages recently weighed in on FN. Zacks Investment Research cut Fabrinet from a “buy” rating to a “hold” rating and set a $58.00 price objective for the company. in a research note on Thursday, January 24th. ValuEngine upgraded Fabrinet from a “hold” rating to a “buy” rating in a research note on Saturday. Piper Jaffray Companies upped their price objective on Fabrinet from $63.00 to $67.00 and gave the stock an “overweight” rating in a research note on Thursday, March 28th. Finally, Needham & Company LLC restated a “buy” rating and set a $62.00 price objective (up from $58.00) on shares of Fabrinet in a research note on Tuesday, December 18th.

In related news, Director Thomas F. Kelly sold 3,000 shares of the company’s stock in a transaction on Thursday, February 14th. The stock was sold at an average price of $54.79, for a total transaction of $164,370.00. Following the completion of the sale, the director now directly owns 41,323 shares in the company, valued at approximately $2,264,087.17. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David T. Mitchell sold 30,000 shares of the company’s stock in a transaction on Thursday, February 7th. The stock was sold at an average price of $52.49, for a total value of $1,574,700.00. Following the sale, the director now owns 73,748 shares of the company’s stock, valued at $3,871,032.52. The disclosure for this sale can be found here. Insiders have sold a total of 132,518 shares of company stock valued at $7,280,154 over the last 90 days. 1.90% of the stock is currently owned by company insiders.

Large investors have recently made changes to their positions in the stock. BlackRock Inc. increased its position in Fabrinet by 2.7% during the 4th quarter. BlackRock Inc. now owns 5,366,878 shares of the technology company’s stock valued at $275,376,000 after buying an additional 139,336 shares in the last quarter. Bank of Montreal Can increased its position in Fabrinet by 13.2% during the 4th quarter. Bank of Montreal Can now owns 101,827 shares of the technology company’s stock valued at $5,225,000 after buying an additional 11,855 shares in the last quarter. Jefferies Group LLC acquired a new position in Fabrinet during the 3rd quarter valued at about $232,000. Meeder Asset Management Inc. increased its position in Fabrinet by 32.6% during the 4th quarter. Meeder Asset Management Inc. now owns 7,444 shares of the technology company’s stock valued at $382,000 after buying an additional 1,832 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in Fabrinet by 1.6% during the 3rd quarter. Vanguard Group Inc. now owns 2,183,069 shares of the technology company’s stock valued at $100,988,000 after buying an additional 33,413 shares in the last quarter. 96.92% of the stock is currently owned by institutional investors.

Shares of FN stock traded down $0.29 during mid-day trading on Monday, hitting $58.69. The stock had a trading volume of 245,077 shares, compared to its average volume of 412,205. Fabrinet has a 12-month low of $27.69 and a 12-month high of $59.94. The stock has a market capitalization of $2.17 billion, a price-to-earnings ratio of 19.69, a P/E/G ratio of 1.38 and a beta of 0.58. The company has a current ratio of 3.19, a quick ratio of 2.26 and a debt-to-equity ratio of 0.08.

Fabrinet (NYSE:FN) last issued its earnings results on Monday, February 4th. The technology company reported $0.97 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.92 by $0.05. Fabrinet had a return on equity of 14.91% and a net margin of 7.08%. The business had revenue of $403.10 million during the quarter, compared to analysts’ expectations of $386.22 million. During the same period in the prior year, the business earned $0.72 EPS. The business’s revenue for the quarter was up 19.6% compared to the same quarter last year. Research analysts predict that Fabrinet will post 3.22 EPS for the current fiscal year.

About Fabrinet

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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