Fabrinet (NYSE:FN) Price Target Lowered to $194.00 at B. Riley

Fabrinet (NYSE:FN) had its target price decreased by B. Riley from $196.00 to $194.00 in a research note issued to investors on Tuesday morning, Benzinga reports. B. Riley currently has a neutral rating on the technology company’s stock.

Several other equities analysts have also issued reports on the company. Needham & Company LLC initiated coverage on Fabrinet in a research note on Tuesday. They set a “buy” rating and a $280.00 price target on the stock. JPMorgan Chase & Co. upped their target price on Fabrinet from $240.00 to $285.00 and gave the company a “neutral” rating in a research note on Tuesday, August 20th. Finally, Rosenblatt Securities lifted their price target on shares of Fabrinet from $260.00 to $280.00 and gave the stock a “buy” rating in a research note on Tuesday, August 20th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $248.17.

Fabrinet Stock Down 3.8 %

Shares of FN stock opened at $230.55 on Tuesday. The stock has a 50 day moving average of $238.50 and a 200-day moving average of $231.70. The firm has a market cap of $8.36 billion, a PE ratio of 28.46 and a beta of 0.95. Fabrinet has a 12 month low of $157.55 and a 12 month high of $278.38.

Fabrinet (NYSE:FN) last released its earnings results on Monday, August 19th. The technology company reported $2.41 EPS for the quarter, beating the consensus estimate of $2.06 by $0.35. The firm had revenue of $753.26 million during the quarter, compared to analysts’ expectations of $732.63 million. Fabrinet had a net margin of 10.27% and a return on equity of 18.10%. The business’s quarterly revenue was up 14.8% compared to the same quarter last year. During the same period in the prior year, the company earned $1.68 EPS. As a group, equities analysts predict that Fabrinet will post 9.11 EPS for the current fiscal year.

Insider Transactions at Fabrinet

In related news, EVP Edward T. Archer sold 8,690 shares of the business’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $220.26, for a total value of $1,914,059.40. Following the sale, the executive vice president now owns 8,333 shares of the company’s stock, valued at $1,835,426.58. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Fabrinet news, EVP Edward T. Archer sold 8,690 shares of Fabrinet stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $220.26, for a total transaction of $1,914,059.40. Following the completion of the transaction, the executive vice president now directly owns 8,333 shares of the company’s stock, valued at approximately $1,835,426.58. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Seamus Grady sold 26,650 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $270.00, for a total transaction of $7,195,500.00. Following the completion of the sale, the chief executive officer now owns 37,643 shares in the company, valued at $10,163,610. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 44,728 shares of company stock valued at $11,645,062. Corporate insiders own 0.38% of the company’s stock.

Institutional Trading of Fabrinet

Hedge funds have recently modified their holdings of the company. Opal Wealth Advisors LLC acquired a new position in shares of Fabrinet in the 2nd quarter worth approximately $28,000. Banque Cantonale Vaudoise acquired a new stake in Fabrinet during the 2nd quarter valued at $35,000. Kimelman & Baird LLC bought a new position in Fabrinet in the 2nd quarter valued at $49,000. NBC Securities Inc. boosted its stake in Fabrinet by 732.0% in the third quarter. NBC Securities Inc. now owns 208 shares of the technology company’s stock worth $49,000 after purchasing an additional 183 shares in the last quarter. Finally, UMB Bank n.a. grew its holdings in shares of Fabrinet by 252.9% during the third quarter. UMB Bank n.a. now owns 240 shares of the technology company’s stock worth $57,000 after purchasing an additional 172 shares during the last quarter. Institutional investors and hedge funds own 97.38% of the company’s stock.

About Fabrinet

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 advanced optical and electro-mechanical capabilities in the manufacturing process, including process design and engineering, supply chain management, manufacturing, printed circuit board assembly, advanced packaging, integration, final assembly, and testing.