Fabrinet (NYSE:FN) Stock Gets Price Target Cut from Susquehanna

by · The Markets Daily

Fabrinet (NYSE:FN – Free Report) had its price objective decreased by Susquehanna from $850.00 to $600.00 in a research report sent to investors on Wednesday morning,Benzinga reports. Susquehanna currently has a positive rating on the technology company’s stock.

A number of other equities research analysts have also issued reports on FN. Weiss Ratings lowered Fabrinet from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, September 9th. JPMorgan Chase & Co. boosted their price target on Fabrinet from $680.00 to $695.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 18th. Rosenblatt Securities restated a “buy” rating and issued a $750.00 price target on shares of Fabrinet in a report on Tuesday, August 18th. Fox Advisors upgraded Fabrinet from an “equal weight” rating to an “overweight” rating in a report on Wednesday, August 19th. Finally, Wall Street Zen downgraded shares of Fabrinet from a “buy” rating to a “hold” rating in a research report on Monday, July 20th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, Fabrinet has a consensus rating of “Moderate Buy” and an average target price of $650.62.

Read Our Latest Research Report on FN

Fabrinet Trading Down 0.8%

Shares of Fabrinet stock opened at $315.09 on Wednesday. The company has a fifty day moving average price of $417.92 and a 200 day moving average price of $532.01. Fabrinet has a twelve month low of $305.63 and a twelve month high of $748.89. The stock has a market cap of $11.29 billion, a price-to-earnings ratio of 24.08 and a beta of 1.23.

Fabrinet (NYSE:FN – Get Free Report) last announced its quarterly earnings results on Tuesday, August 18th. The technology company reported $4.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.81 by $0.29. The firm had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.28 billion. Fabrinet had a return on equity of 21.23% and a net margin of 10.19%. The firm’s quarterly revenue was up 44.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.65 EPS. Analysts forecast that Fabrinet will post 17.50 earnings per share for the current year.

Insider Transactions at Fabrinet

In other Fabrinet news, EVP Edward Archer sold 2,500 shares of the stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $385.91, for a total transaction of $964,775.00. Following the transaction, the executive vice president directly owned 7,007 shares in the company, valued at $2,704,071.37. This represents a 26.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.24% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Fabrinet

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Sterling Capital Management LLC raised its stake in shares of Fabrinet by 587.3% in the 3rd quarter. Sterling Capital Management LLC now owns 1,622 shares of the technology company’s stock valued at $688,000 after purchasing an additional 1,386 shares in the last quarter. Brookstone Capital Management grew its stake in Fabrinet by 21.9% in the third quarter. Brookstone Capital Management now owns 1,210 shares of the technology company’s stock worth $513,000 after purchasing an additional 217 shares in the last quarter. Root Financial Partners LLC acquired a new position in Fabrinet in the third quarter worth about $40,000. SBI Securities Co. Ltd. grew its stake in Fabrinet by 50.7% in the third quarter. SBI Securities Co. Ltd. now owns 1,213 shares of the technology company’s stock worth $515,000 after purchasing an additional 408 shares in the last quarter. Finally, Reyes Financial Architecture Inc. bought a new stake in Fabrinet in the third quarter valued at about $52,000. Institutional investors own 97.38% of the company’s stock.

Fabrinet Company Profile

(Get Free Report)

Fabrinet (NYSE: FN) is a provider of outsourced manufacturing services for complex optical, electronic and electromechanical products. The company works with original equipment manufacturers and other technology companies to design, manufacture, assemble, test and distribute products used in optical communications, industrial lasers, automotive applications, medical devices and other advanced technology markets.

Its capabilities include precision optical packaging, optical and electronic assembly, printed circuit board assembly, electromechanical manufacturing, engineering support, supply-chain management and testing.

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