Recent Investment Analysts’ Ratings Changes for Fabrinet (FN)

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Fabrinet (NYSE: FN) has recently received a number of price target changes and ratings updates:

  • 1/24/2019 – Fabrinet had its price target raised by analysts at Piper Jaffray Companies from $56.00 to $61.00. They now have an “overweight” rating on the stock.
  • 1/24/2019 – Fabrinet was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. They now have a $58.00 price target on the stock. According to Zacks, “Fabrinet provides precision optical, electro-mechanical and electronic manufacturing services to original equipment manufacturers of complex products, such as optical communication components, modules and sub-systems, industrial lasers and sensors. The Company offers a broad range of advanced optical capabilities across the entire manufacturing process, including process engineering, design for manufacturability, supply chain management, manufacturing, final assembly and test. Fabrinet manufactures, assembles, and tests products for customers at its main manufacturing facilities in Bangkok, Thailand. The Company designs and manufactures its own bulk optical materials and components at its facilities in Fuzhou, the People’s Republic of China, and New Jersey, USA. “
  • 1/14/2019 – Fabrinet was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Fabrinet provides precision optical, electro-mechanical and electronic manufacturing services to original equipment manufacturers of complex products, such as optical communication components, modules and sub-systems, industrial lasers and sensors. The Company offers a broad range of advanced optical capabilities across the entire manufacturing process, including process engineering, design for manufacturability, supply chain management, manufacturing, final assembly and test. Fabrinet manufactures, assembles, and tests products for customers at its main manufacturing facilities in Bangkok, Thailand. The Company designs and manufactures its own bulk optical materials and components at its facilities in Fuzhou, the People’s Republic of China, and New Jersey, USA. “
  • 1/11/2019 – Fabrinet was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $63.00 price target on the stock. According to Zacks, “Fabrinet provides precision optical, electro-mechanical and electronic manufacturing services to original equipment manufacturers of complex products, such as optical communication components, modules and sub-systems, industrial lasers and sensors. The Company offers a broad range of advanced optical capabilities across the entire manufacturing process, including process engineering, design for manufacturability, supply chain management, manufacturing, final assembly and test. Fabrinet manufactures, assembles, and tests products for customers at its main manufacturing facilities in Bangkok, Thailand. The Company designs and manufactures its own bulk optical materials and components at its facilities in Fuzhou, the People’s Republic of China, and New Jersey, USA. “
  • 12/18/2018 – Fabrinet had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $62.00 price target on the stock, up previously from $58.00.

FN stock traded down $0.68 during midday trading on Wednesday, hitting $54.71. 157,471 shares of the company’s stock were exchanged, compared to its average volume of 389,754. The company has a current ratio of 3.00, a quick ratio of 2.09 and a debt-to-equity ratio of 0.08. The firm has a market cap of $2.04 billion, a PE ratio of 18.36, a P/E/G ratio of 1.39 and a beta of 0.63. Fabrinet has a one year low of $24.02 and a one year high of $58.24.

Fabrinet (NYSE:FN) last posted its earnings results on Monday, November 5th. The technology company reported $0.92 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.68 by $0.24. Fabrinet had a return on equity of 13.53% and a net margin of 6.54%. The firm had revenue of $377.00 million for the quarter, compared to analyst estimates of $352.28 million. During the same period in the previous year, the company posted $0.75 earnings per share. The company’s revenue for the quarter was up 5.5% on a year-over-year basis. On average, analysts forecast that Fabrinet will post 3.13 earnings per share for the current year.

In other Fabrinet news, COO Harpal Gill sold 33,479 shares of Fabrinet stock in a transaction dated Wednesday, November 28th. The stock was sold at an average price of $52.00, for a total value of $1,740,908.00. Following the sale, the chief operating officer now owns 51,860 shares of the company’s stock, valued at approximately $2,696,720. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Toh-Seng Ng sold 30,000 shares of Fabrinet stock in a transaction dated Thursday, November 29th. The shares were sold at an average price of $52.70, for a total value of $1,581,000.00. Following the completion of the sale, the chief financial officer now directly owns 117,340 shares in the company, valued at approximately $6,183,818. The disclosure for this sale can be found here. Insiders sold a total of 69,560 shares of company stock worth $3,635,323 in the last three months. Company insiders own 1.90% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Nkcfo LLC acquired a new stake in shares of Fabrinet in the fourth quarter valued at about $30,000. Quantbot Technologies LP acquired a new position in Fabrinet during the third quarter worth approximately $110,000. BlueMountain Capital Management LLC acquired a new position in Fabrinet during the third quarter worth approximately $111,000. Csenge Advisory Group acquired a new position in Fabrinet during the third quarter worth approximately $117,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in Fabrinet by 19.7% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,382 shares of the technology company’s stock worth $122,000 after buying an additional 392 shares during the last quarter. 93.62% of the stock is currently owned by hedge funds and other institutional investors.

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

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