Rosenblatt Securities raises its price target on Fabrinet (NYSE:FN) to $280.00

Fabrinet (NYSE:FN – Get Free Report) The target price was upped by analysts at Rosenblatt Securities from $260.00 to $280.00 in a research note issued on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the technology company’s stock. Rosenblatt Securities’ price target would indicate a potential upside of 20.97% from the stock’s previous close.

FN has been the subject of several other research reports. JPMorgan Chase & Co. lifted their price objective on Fabrinet from $230.00 to $240.00 and gave the stock a “neutral” rating in a report on Monday, August 12th. Needham & Company LLC reaffirmed a “buy” rating and issued a $220.00 target price on shares of Fabrinet in a research note on Tuesday, May 7th. Jefferies Financial Group began coverage on Fabrinet in a research note on Wednesday, June 26th. They set a “hold” rating and a $230.00 price objective for the company. Finally, B. Riley cut their price target on shares of Fabrinet from $173.00 to $171.00 and set a “neutral” rating on the stock in a report on Tuesday, May 7th. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company has a consensus rating of “Moderate Buy” and an average target price of $184.00, according to MarketBeat.

See our latest analysis on FN

Fabrinet price performance

Shares of NYSE FN opened at $231.46 on Tuesday. The stock has a market cap of $8.37 billion, a P/E ratio of 30.74 and a beta of 0.96. Fabrinet has a one year low of $116.63 and a one year high of $266.39. The company’s 50-day simple moving average is $233.10, and its two-hundred-day simple moving average is $213.85.

Fabrinet (NYSE:FN – Get Your Free Report ) last posted its earnings results on Monday, August 19th. The technology company reported $2.41 EPS for the quarter, topping the consensus estimate of $2.06 by $0.35. The company had revenue of $753.26 million for the quarter, compared to analyst estimates of $732.63 million. Fabrinet had a net margin of 9.90% and a return on equity of 17.67%. The company’s quarterly revenue was up 14.8% compared to the same quarter last year. In the same quarter last year, the firm earned $1.68 EPS. As a group, equities analysts expect that Fabrinet will post 7.95 earnings per share for the current fiscal year.

Indoor activity

In other Fabrinet news, Director Frank H. Levinson sold 6,000 shares of the business’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $241.71, for a total transaction of $1,450,260.00. Following the transaction, the director now directly owns 5,709 shares of the company’s stock, valued at approximately $1,379,922.39. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC’s website. Insiders hold 0.51% of the company’s stock.

Fabrinet’s Institutional Trading

Large investors have recently bought and sold shares of the company. First Eagle Investment Management LLC lifted its position in Fabrinet by 0.8% in the fourth quarter. First Eagle Investment Management LLC now owns 7,508 shares of the technology company’s stock valued at $1,429,000 after purchasing an additional 60 shares during the period. Parallel Advisors LLC boosted its stake in Fabrinet by 59.7% in the 4th quarter. Parallel Advisors LLC now owns 206 shares of the technology company’s stock worth $39,000 after acquiring an additional 77 shares during the last quarter. Xponance Inc. grew its position in Fabrinet by 3.5% during the 2nd quarter. Xponance Inc. now owns 2,308 shares of the technology company’s stock valued at $565,000 after acquiring an additional 78 shares during the period. Vanguard Personalized Indexing Management LLC raised its position in Fabrinet by 1.6% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 6,117 shares of the technology company’s stock valued at $1,164,000 after acquiring an additional 96 shares during that period. Finally, New York State Teachers Retirement System boosted its stake in Fabrinet by 0.3% in the first quarter. New York State Teachers Retirement System now owns 29,950 shares of the technology company’s stock worth $5,661,000 after acquiring an additional 100 shares during the last quarter. 97.38% of shares are held by institutional investors.

About Fabrinet

(Get a free report)

Fabrinet provides optical packaging and precision optical, electromechanical and electronic manufacturing services in North America, Asia-Pacific and Europe. The company offers a wide range of advanced optical and electro-mechanical manufacturing capabilities, including process design and engineering, supply chain management, manufacturing, printed circuit board assembly, advanced packaging, integration, final assembly and testing.

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