Barclays Initiates Coverage on Fabrinet (NYSE:FN)

Research analysts at Barclays began coverage on shares of Fabrinet (NYSE:FN) in a research report issued on Thursday,Briefing.com Automated Import reports. The firm set an “equal weight” rating and a $292.00 price target on the technology company’s stock. Barclays‘s price target indicates a potential upside of 15.96% from the stock’s previous close.

Other research analysts have also recently issued research reports about the stock. Needham & Company LLC began coverage on shares of Fabrinet in a report on Tuesday, November 5th. They issued a “buy” rating and a $280.00 price target for the company. JPMorgan Chase & Co. increased their target price on Fabrinet from $240.00 to $285.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. Rosenblatt Securities boosted their price target on Fabrinet from $260.00 to $280.00 and gave the company a “buy” rating in a report on Tuesday, August 20th. Finally, B. Riley decreased their price objective on Fabrinet from $196.00 to $194.00 and set a “neutral” rating for the company in a report on Tuesday, November 5th. Four 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, the stock has an average rating of “Hold” and an average target price of $254.43.

Fabrinet Price Performance

FN opened at $251.81 on Thursday. The company’s 50 day simple moving average is $240.79 and its 200-day simple moving average is $234.94. Fabrinet has a one year low of $159.30 and a one year high of $278.38. The stock has a market capitalization of $9.13 billion, a P/E ratio of 29.80 and a beta of 0.95.

Fabrinet (NYSE:FN) last released its earnings results on Monday, November 4th. The technology company reported $2.39 EPS for the quarter, beating the consensus estimate of $2.38 by $0.01. The company had revenue of $804.20 million during the quarter, compared to analysts’ expectations of $771.24 million. Fabrinet had a return on equity of 18.08% and a net margin of 10.28%. The business’s revenue for the quarter was up 17.3% on a year-over-year basis. During the same period last year, the firm earned $1.78 EPS. As a group, analysts anticipate that Fabrinet will post 9.1 EPS for the current year.

Insider Activity at Fabrinet

In related news, CFO Csaba Sverha sold 9,288 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $270.08, for a total transaction of $2,508,503.04. Following the transaction, the chief financial officer now directly owns 19,768 shares in the company, valued at approximately $5,338,941.44. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Csaba Sverha sold 9,288 shares of Fabrinet stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $270.08, for a total transaction of $2,508,503.04. Following the completion of the transaction, the chief financial officer now owns 19,768 shares in the company, valued at approximately $5,338,941.44. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Edward T. Archer sold 8,690 shares of the business’s stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 8,333 shares in the company, valued at approximately $1,835,426.58. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 44,728 shares of company stock valued at $11,645,062. Insiders own 0.38% of the company’s stock.

Institutional Investors Weigh In On Fabrinet

Hedge funds have recently added to or reduced their stakes in the business. Janney Montgomery Scott LLC lifted its position in Fabrinet by 14.4% during the first quarter. Janney Montgomery Scott LLC now owns 5,168 shares of the technology company’s stock worth $977,000 after acquiring an additional 652 shares during the last quarter. Envestnet Portfolio Solutions Inc. lifted its holdings in Fabrinet by 3.1% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 4,102 shares of the technology company’s stock worth $775,000 after purchasing an additional 122 shares during the last quarter. SG Americas Securities LLC boosted its position in shares of Fabrinet by 144.1% in the first quarter. SG Americas Securities LLC now owns 2,236 shares of the technology company’s stock valued at $423,000 after acquiring an additional 1,320 shares during the period. Swiss National Bank raised its stake in Fabrinet by 0.6% in the 1st quarter. Swiss National Bank now owns 71,740 shares of the technology company’s stock worth $13,560,000 after purchasing an additional 400 shares in the last quarter. Finally, Headlands Technologies LLC bought a new stake in Fabrinet in the 1st quarter valued at about $63,000. Institutional investors and hedge funds own 97.38% of the company’s stock.

Fabrinet Company Profile

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.