A number of other analysts also commented on the stock. B. Riley raised his price target on Fabrinet shares from $96.00 to $100.00 and gave the stock a “neutral” rating in a Tuesday, Feb. 1 research report. Loop Capital launched a hedge on Fabrinet shares in a research report on Monday. They set a “buy” rating and a price target of $129.00 on the stock. JPMorgan Chase & Co. raised its price target on Fabrinet shares from $115.00 to $125.00 and gave the stock a “neutral” rating in a Thursday, January 20 research report. To finish, Zacks Investment Research upgraded Fabrinet shares from a “hold” rating to a “buy” rating and set a price target of $108.00 on the stock in a Tuesday, April 19 research report. Four equity research analysts gave the stock a hold rating and six gave the company a buy rating. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $109.75.
Fabrinet shares traded down $2.54 on Friday, hitting $98.19. The company had a trading volume of 136,098 shares, compared to an average volume of 191,820. The company has a market capitalization of $3.63 billion, a P/E ratio of 21.21 and a beta of 0.93. . Fabrinet has a 12-month low of $77.30 and a 12-month high of $126.28. The company has a debt ratio of 0.02, a current ratio of 2.88 and a quick ratio of 1.91. The stock has a 50-day moving average of $100.43 and a 200-day moving average of $107.45.
Fabrinet (NYSE:FN – Get a rating) last reported quarterly earnings data on Monday, Jan. 31. The technology company reported EPS of $1.31 for the quarter, beating the Zacks consensus estimate of $1.29 by $0.02. The company posted revenue of $566.63 million for the quarter, versus analyst estimates of $555.77 million. Fabrinet posted a net margin of 8.26% and a return on equity of 15.49%. In the same quarter a year earlier, the company posted earnings per share of $0.95. Equity analysts expect Fabrinet to post an EPS of 5.22 for the current year.
In related news, EVP Edward T. Archer sold 2,146 shares of the company in a transaction dated Tuesday, March 1. The shares were sold at an average price of $98.73, for a total value of $211,874.58. The transaction was disclosed in an SEC filing, which is available via the SEC website. Company insiders own 0.42% of the company’s shares.
A number of institutional investors have recently changed their positions in FN. Morgan Stanley increased its stake in Fabrinet by 63.7% during the second quarter. Morgan Stanley now owns 159,568 shares of the technology company worth $15,298,000 after buying an additional 62,074 shares last quarter. Raymond James & Associates increased its stake in Fabrinet by 6.4% during the third quarter. Raymond James & Associates now owns 63,061 shares of the technology company worth $6,464,000 after buying 3,801 more shares last quarter. Advisor Group Holdings Inc. increased its stake in Fabrinet by 27.5% during the third quarter. Advisor Group Holdings Inc. now owns 7,605 shares of the technology company worth $779,000 after buying 1,640 additional shares last quarter. Truist Financial Corp acquired a new stake in Fabrinet during the third quarter worth approximately $1,010,000. Finally, Moors & Cabot Inc. acquired a new stake in Fabrinet during the third quarter at a value of approximately $132,000. Hedge funds and other institutional investors hold 96.16% of the company’s shares.
Fabrinet company profile (Get a rating)
Fabrinet provides optical packaging and optical, electromechanical and precision electronics manufacturing services in North America, Asia-Pacific and Europe. The company offers a range of advanced optical and electromechanical capabilities in the manufacturing process, including process design and engineering, supply chain management, manufacturing, printed circuit board assembly, l advanced packaging, integration, final assembly and testing.
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