Fabrinet (NYSE:FN) Stock Price Up 12.6% – Should You Buy?

Shares of Fabrinet (NYSE:FN) traded up 12.6% during trading on Monday. The stock traded as high as $368.95 and last traded at $368.3980. 429,376 shares traded hands during trading, a decline of 51% from the average daily volume of 880,672 shares. The stock had previously closed at $327.13.

Analysts Set New Price Targets

A number of brokerages recently commented on FN. Fox Advisors upgraded shares of Fabrinet from an “equal weight” rating to an “overweight” rating in a research note on Wednesday, August 19th. JPMorgan Chase & Co. increased their price target on shares of Fabrinet from $465.00 to $470.00 and gave the company a “neutral” rating in a report on Tuesday, November 3rd. Needham & Company LLC restated a “buy” rating and set a $500.00 price objective on shares of Fabrinet in a research report on Tuesday, November 3rd. Wall Street Zen cut Fabrinet from a “buy” rating to a “hold” rating in a report on Monday, July 20th. Finally, Rosenblatt Securities decreased their target price on Fabrinet from $750.00 to $600.00 and set a “buy” rating on the stock in a research report on Tuesday, November 3rd. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Fabrinet currently has an average rating of “Moderate Buy” and an average price target of $548.88.

Fabrinet Stock Down 4.9%

The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.33 and a current ratio of 2.04. The stock has a market cap of $12.43 billion, a P/E ratio of 25.15 and a beta of 1.35. The stock’s fifty day simple moving average is $391.93 and its 200-day simple moving average is $517.10.

Fabrinet (NYSE:FN) last announced its earnings results on Monday, November 2nd. The technology company reported $4.34 EPS for the quarter, topping the consensus estimate of $4.21 by $0.13. Fabrinet had a net margin of 9.35% and a return on equity of 22.32%. The company had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.42 billion. During the same period last year, the firm earned $2.92 earnings per share. The business’s revenue for the quarter was up 50.7% on a year-over-year basis. As a group, research analysts forecast that Fabrinet will post 18.96 earnings per share for the current fiscal year.

Insider Transactions at Fabrinet

In other Fabrinet news, EVP Edward Archer sold 2,500 shares of the firm’s stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $385.91, for a total transaction of $964,775.00. Following the transaction, the executive vice president owned 7,007 shares in the company, valued at $2,704,071.37. This trade represents a 26.30% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.22% of the stock is owned by corporate insiders.

Institutional Trading of Fabrinet

Large investors have recently modified their holdings of the stock. B.A. Schrock Wealth Management Inc. bought a new position in Fabrinet in the 3rd quarter valued at about $1,305,000. Great Lakes Advisors LLC acquired a new position in shares of Fabrinet in the 2nd quarter valued at approximately $3,024,000. Engineers Gate Manager LP acquired a new position in shares of Fabrinet in the 2nd quarter valued at approximately $2,491,000. Sei Investments Co. lifted its holdings in shares of Fabrinet by 22.0% during the 1st quarter. Sei Investments Co. now owns 89,843 shares of the technology company’s stock worth $46,854,000 after acquiring an additional 16,218 shares during the period. Finally, California State Teachers Retirement System lifted its holdings in shares of Fabrinet by 23.0% during the 1st quarter. California State Teachers Retirement System now owns 41,747 shares of the technology company’s stock worth $21,772,000 after acquiring an additional 7,819 shares during the period. 97.38% of the stock is owned by institutional investors and hedge funds.

About Fabrinet

Fabrinet (NYSE: FN) is a provider of advanced optical packaging and precision manufacturing services. The company works with original equipment manufacturers and other technology companies to produce complex products that require specialized engineering and manufacturing capabilities. Its services include product design and engineering support, prototyping, supply-chain management, and manufacturing. Fabrinet’s products serve markets including optical communications, industrial lasers, automotive technology, and medical devices.