B. Riley Raises Price Target on Fabrinet (NYSE:FN) to $196.00

Fabrinet (NYSE:FN – Get Free Report) The price objective was upped by investment analysts at B. Riley from $171.00 to $196.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm currently has a “neutral” rating on the technology company’s stock. B. Riley’s price objective would indicate a potential downside of 28.34% from the company’s current price.

A number of other equities analysts have also recently commented on the stock. Rosenblatt Securities boosted their price objective on shares of Fabrinet from $260.00 to $280.00 and gave the stock a “buy” rating in a report on Tuesday. JPMorgan Chase & Co. lifted their price objective on Fabrinet from $230.00 to $240.00 and gave the company a “neutral” rating in a report on Monday, August 12th. Jefferies Financial Group began coverage on Fabrinet in a research note on Wednesday, June 26th. They issued a “hold” rating and a $230.00 price objective on the stock. Finally, Needham & Company LLC boosted their price target on Fabrinet from $270.00 to $280.00 and gave the company a “buy” rating in a research note on Tuesday. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $191.78.

Read our latest analysis of FN

Fabrinet stock up 2.1%

Shares of FN stock opened at $273.50 on Tuesday. The company’s 50-day simple moving average is $234.49, and its 200-day simple moving average is $214.57. The company has a market cap of $9.89 billion, a PE ratio of 36.32 and a beta of 0.96. Fabrinet has a 12 month low of $143.57 and a 12 month high of $278.38.

Fabrinet (NYSE:FN – Get Your Free Report ) last announced its quarterly earnings data on Monday, August 19th. The technology company reported $2.41 earnings per share 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 return on equity of 17.67% and a net margin of 9.90%. Fabrinet’s revenue for the quarter was up 14.8% compared to the same quarter last year. In the same quarter last year, the firm earned $1.68 EPS. On average, equities research analysts anticipate that Fabrinet will post 7.95 EPS for the current year.

Indoor activity

In related news, Director Frank H. Levinson sold 6,000 shares of the business’s stock in a transaction dated 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 owns 5,709 shares in the company, valued at approximately $1,379,922.39. The sale was disclosed in a filing with the SEC, which can be accessed via this link. 0.51% of shares are currently held by corporate insiders.

Institutional inputs and outputs

Several institutional investors have recently bought and sold shares of the stock. Opal Wealth Advisors LLC acquired a new position in Fabrinet in the 2nd quarter valued at about $28,000. GAMMA Investing LLC purchased a new position in Fabrinet in the fourth quarter valued at about $34,000. Banque Cantonale Vaudoise bought a new position in Fabrinet in the second quarter valued at approximately $35,000. Parallel Advisors LLC raised its holdings 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 period. Finally, Kimelman & Baird LLC bought a new stake in shares of Fabrinet during the 2nd quarter valued at $49,000. Institutional investors own 97.38% of the company’s shares.

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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