Fabrinet (NYSE:FN)‘s stock had its “strong-buy” rating reaffirmed by Needham & Company LLC in a report released on Tuesday. They presently have a $60.00 target price on the technology company’s stock. Needham & Company LLC’s price objective suggests a potential upside of 50.68% from the stock’s previous close.

FN has been the topic of a number of other research reports. Zacks Investment Research cut Fabrinet from a “hold” rating to a “sell” rating in a report on Tuesday, May 2nd. BidaskClub cut Fabrinet from a “hold” rating to a “sell” rating in a report on Monday, July 31st. ValuEngine cut Fabrinet from a “buy” rating to a “hold” rating in a report on Monday, August 14th. Stifel Nicolaus restated a “buy” rating and set a $48.00 target price on shares of Fabrinet in a report on Friday, July 14th. Finally, Piper Jaffray Companies restated an “overweight” rating on shares of Fabrinet in a report on Wednesday, May 10th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Fabrinet presently has a consensus rating of “Buy” and an average target price of $50.68.

Shares of Fabrinet (NYSE FN) opened at 39.82 on Tuesday. The firm’s 50-day moving average price is $43.55 and its 200 day moving average price is $40.78. Fabrinet has a 12-month low of $31.97 and a 12-month high of $49.63. The firm has a market cap of $1.49 billion, a P/E ratio of 16.74 and a beta of 1.08.

Fabrinet (NYSE:FN) last issued its earnings results on Monday, August 21st. The technology company reported $0.86 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.83 by $0.03. Fabrinet had a return on equity of 14.95% and a net margin of 6.74%. The firm had revenue of $370.50 million for the quarter, compared to analysts’ expectations of $363.41 million. During the same quarter last year, the business earned $0.60 earnings per share. The company’s revenue was up 34.0% compared to the same quarter last year. On average, equities analysts expect that Fabrinet will post $3.36 earnings per share for the current fiscal year.

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In other news, CEO David T. Mitchell sold 52,500 shares of Fabrinet stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $41.22, for a total transaction of $2,164,050.00. Following the transaction, the chief executive officer now owns 42,631 shares in the company, valued at approximately $1,757,249.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 4.30% of the company’s stock.

Large investors have recently made changes to their positions in the stock. Tower Research Capital LLC TRC raised its stake in shares of Fabrinet by 1.9% in the first quarter. Tower Research Capital LLC TRC now owns 2,608 shares of the technology company’s stock worth $110,000 after buying an additional 48 shares in the last quarter. YorkBridge Wealth Partners LLC raised its stake in shares of Fabrinet by 14.1% in the second quarter. YorkBridge Wealth Partners LLC now owns 2,727 shares of the technology company’s stock worth $117,000 after buying an additional 338 shares in the last quarter. Quantbot Technologies LP raised its stake in shares of Fabrinet by 55.0% in the first quarter. Quantbot Technologies LP now owns 2,755 shares of the technology company’s stock worth $115,000 after buying an additional 978 shares in the last quarter. Riverhead Capital Management LLC raised its stake in shares of Fabrinet by 68.5% in the second quarter. Riverhead Capital Management LLC now owns 2,864 shares of the technology company’s stock worth $122,000 after buying an additional 1,164 shares in the last quarter. Finally, Ameritas Investment Partners Inc. purchased a new stake in shares of Fabrinet during the first quarter worth about $127,000. 95.10% of the stock is currently owned by institutional investors and hedge funds.

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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