Fabrinet (NYSE:FN) has received an average recommendation of “Buy” from the nine research firms that are presently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating on the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $49.38.

FN has been the topic of several analyst reports. Needham & Company LLC reiterated a “buy” rating and set a $60.00 target price on shares of Fabrinet in a research report on Tuesday, September 5th. Zacks Investment Research upgraded Fabrinet from a “sell” rating to a “hold” rating in a research report on Wednesday, July 12th. ValuEngine upgraded Fabrinet from a “hold” rating to a “buy” rating in a research report on Wednesday, August 2nd. Stifel Nicolaus reiterated a “buy” rating on shares of Fabrinet in a research report on Tuesday, August 22nd. Finally, BidaskClub downgraded Fabrinet from a “hold” rating to a “sell” rating in a research report on Monday, July 31st.

Fabrinet (NYSE:FN) opened at $32.25 on Monday. The firm has a market capitalization of $1,211.80, a price-to-earnings ratio of 12.55, a P/E/G ratio of 0.97 and a beta of 1.03. The company has a current ratio of 2.57, a quick ratio of 1.80 and a debt-to-equity ratio of 0.03. Fabrinet has a 52-week low of $31.20 and a 52-week high of $49.63.

Fabrinet (NYSE:FN) last released its earnings results on Monday, August 21st. The technology company reported $0.72 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.83 by ($0.11). The company had revenue of $370.50 million for the quarter, compared to analysts’ expectations of $363.41 million. Fabrinet had a net margin of 6.84% and a return on equity of 15.32%. Fabrinet’s revenue for the quarter was up 34.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.60 earnings per share. equities analysts anticipate that Fabrinet will post 2.78 EPS for the current fiscal year.

Fabrinet declared that its Board of Directors has approved a stock buyback plan on Monday, August 21st that allows the company to repurchase $30.00 million in outstanding shares. This repurchase authorization allows the technology company to purchase up to 21% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

In other news, Director Thomas F. Kelly sold 30,000 shares of the business’s stock in a transaction dated Tuesday, August 29th. The stock was sold at an average price of $38.24, for a total value of $1,147,200.00. Following the transaction, the director now directly owns 64,635 shares in the company, valued at $2,471,642.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO David T. Mitchell sold 105,000 shares of the business’s stock in a transaction dated Friday, August 25th. The shares were sold at an average price of $38.63, for a total value of $4,056,150.00. Following the completion of the transaction, the chief executive officer now owns 111,057 shares in the company, valued at $4,290,131.91. The disclosure for this sale can be found here. Insiders sold 207,500 shares of company stock worth $8,034,350 over the last 90 days. Company insiders own 3.30% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. BlackRock Inc. increased its holdings in shares of Fabrinet by 0.4% in the second quarter. BlackRock Inc. now owns 4,328,966 shares of the technology company’s stock worth $184,673,000 after purchasing an additional 17,385 shares during the last quarter. FMR LLC increased its holdings in shares of Fabrinet by 31.8% in the second quarter. FMR LLC now owns 2,772,212 shares of the technology company’s stock worth $118,262,000 after purchasing an additional 669,201 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Fabrinet by 0.3% in the second quarter. Dimensional Fund Advisors LP now owns 2,027,764 shares of the technology company’s stock worth $86,506,000 after purchasing an additional 5,583 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Fabrinet by 4.8% in the second quarter. Vanguard Group Inc. now owns 1,984,041 shares of the technology company’s stock worth $84,640,000 after purchasing an additional 90,477 shares during the last quarter. Finally, Congress Asset Management Co. MA increased its holdings in shares of Fabrinet by 23.6% in the second quarter. Congress Asset Management Co. MA now owns 1,727,179 shares of the technology company’s stock worth $73,681,000 after purchasing an additional 330,178 shares during the last quarter. Institutional investors and hedge funds own 94.59% of the company’s stock.

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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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