Fabrinet (NYSE:FN) Stock Has Consensus Target Price of $646.88 According to Analysts

Shares of Fabrinet (NYSE:FN) have been assigned a consensus recommendation of “Moderate Buy” from the ten research firms that are presently covering the company, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation, six have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $650.62.

FN has been the topic of several recent analyst reports. Fox Advisors raised Fabrinet from an “equal weight” rating to an “overweight” rating in a report on Wednesday, August 19th. Weiss Ratings downgraded shares of Fabrinet from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, September 9th. Barclays raised their target price on shares of Fabrinet from $702.00 to $739.00 and gave the stock an “overweight” rating in a report on Tuesday, August 18th. JPMorgan Chase & Co. increased their price objective on Fabrinet from $680.00 to $695.00 and gave the company a “neutral” rating in a research report on Tuesday, August 18th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $750.00 target price on shares of Fabrinet in a research report on Tuesday, August 18th.

Insider Buying and Selling

In other Fabrinet news, EVP Edward Archer sold 2,500 shares of Fabrinet stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $385.91, for a total transaction of $964,775.00. Following the transaction, the executive vice president directly owned 7,007 shares in the company, valued at approximately $2,704,071.37. The trade was a 26.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.24% of the company’s stock.

Institutional Trading of Fabrinet

Hedge funds have recently made changes to their positions in the stock. Paradigm Capital Management Inc. NY acquired a new stake in Fabrinet during the second quarter valued at $298,183,000. Janus Henderson Group PLC increased its stake in shares of Fabrinet by 15.9% during the 1st quarter. Janus Henderson Group PLC now owns 291,659 shares of the technology company’s stock worth $152,071,000 after purchasing an additional 40,090 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of Fabrinet by 15.0% during the 1st quarter. Principal Financial Group Inc. now owns 216,049 shares of the technology company’s stock valued at $112,674,000 after purchasing an additional 28,166 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of Fabrinet by 108.1% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 165,146 shares of the technology company’s stock valued at $88,350,000 after purchasing an additional 85,780 shares in the last quarter. Finally, Wedge Capital Management L L P NC increased its position in Fabrinet by 11.5% during the second quarter. Wedge Capital Management L L P NC now owns 128,795 shares of the technology company’s stock worth $72,393,000 after buying an additional 13,245 shares during the last quarter. 97.38% of the stock is owned by hedge funds and other institutional investors.

Fabrinet Price Performance

Shares of FN stock opened at $316.44 on Tuesday. Fabrinet has a 12-month low of $311.81 and a 12-month high of $748.89. The firm has a market capitalization of $11.34 billion, a price-to-earnings ratio of 27.00 and a beta of 1.23. The business has a 50 day simple moving average of $423.06 and a 200 day simple moving average of $533.53.

Fabrinet (NYSE:FN) last announced its quarterly earnings results on Tuesday, August 18th. The technology company reported $4.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.81 by $0.29. The company had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.28 billion. Fabrinet had a return on equity of 21.23% and a net margin of 10.19%. The firm’s quarterly revenue was up 44.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.65 EPS. On average, equities analysts anticipate that Fabrinet will post 17.50 EPS for the current fiscal year.

Fabrinet Company Profile

Fabrinet (NYSE: FN) is a provider of outsourced manufacturing services for complex optical, electronic and electromechanical products. The company works with original equipment manufacturers and other technology companies to design, manufacture, assemble, test and distribute products used in optical communications, industrial lasers, automotive applications, medical devices and other advanced technology markets.

Its capabilities include precision optical packaging, optical and electronic assembly, printed circuit board assembly, electromechanical manufacturing, engineering support, supply-chain management and testing.