Fabrinet (NYSE:FN) Price Target Increased to $212.00 by Analysts at JPMorgan Chase & Co.

Fabrinet (NYSE:FN) had its price target hoisted by JPMorgan Chase & Co. from $210.00 to $212.00 in a report published on Thursday morning, Benzinga reports. The firm currently has a neutral rating on the technology company’s stock.

A number of other analysts have also recently commented on FN. Needham & Company LLC cut their price target on shares of Fabrinet from $230.00 to $220.00 and set a buy rating for the company in a research note on Friday, March 22nd. Northland Securities upgraded shares of Fabrinet from a market perform rating to an outperform rating and increased their price target for the company from $200.00 to $220.00 in a research note on Thursday, March 21st. Finally, Rosenblatt Securities reiterated a buy rating and issued a $230.00 price target on shares of Fabrinet in a research note on Tuesday, February 6th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus target price of $159.57.

Fabrinet Stock Up 0.9 %

Fabrinet stock opened at $178.48 on Thursday. The stock has a market capitalization of $6.48 billion, a PE ratio of 25.79 and a beta of 1.04. Fabrinet has a twelve month low of $90.19 and a twelve month high of $229.02. The company has a 50 day moving average of $198.90 and a 200-day moving average of $184.94.

Fabrinet (NYSE:FN) last announced its earnings results on Monday, February 5th. The technology company reported $1.89 EPS for the quarter, topping the consensus estimate of $1.84 by $0.05. Fabrinet had a net margin of 9.35% and a return on equity of 17.27%. The business had revenue of $712.69 million during the quarter, compared to analysts’ expectations of $699.76 million. Equities analysts anticipate that Fabrinet will post 7.64 EPS for the current fiscal year.

Insider Activity

In other news, Director Rollance E. Olson sold 10,000 shares of the stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $205.52, for a total value of $2,055,200.00. Following the transaction, the director now directly owns 25,981 shares of the company’s stock, valued at $5,339,615.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.51% of the company’s stock.

Hedge Funds Weigh In On Fabrinet

Hedge funds have recently bought and sold shares of the business. Bank of Montreal Can grew its stake in Fabrinet by 9.7% during the first quarter. Bank of Montreal Can now owns 11,292 shares of the technology company’s stock worth $1,217,000 after buying an additional 998 shares in the last quarter. Rhumbline Advisers grew its stake in Fabrinet by 6.6% during the first quarter. Rhumbline Advisers now owns 90,911 shares of the technology company’s stock worth $9,557,000 after buying an additional 5,603 shares in the last quarter. BlackRock Inc. grew its stake in Fabrinet by 0.4% during the first quarter. BlackRock Inc. now owns 5,594,458 shares of the technology company’s stock worth $588,146,000 after buying an additional 24,058 shares in the last quarter. Yousif Capital Management LLC grew its stake in Fabrinet by 1.1% during the first quarter. Yousif Capital Management LLC now owns 34,565 shares of the technology company’s stock worth $3,634,000 after buying an additional 365 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in Fabrinet by 0.7% during the first quarter. Vanguard Group Inc. now owns 4,173,594 shares of the technology company’s stock worth $438,770,000 after buying an additional 30,481 shares in the last quarter. 97.38% of the stock is owned by institutional investors.

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.