The stock of Fabrinet (NYSE:FN) is a huge mover today! About 399,436 shares traded hands. Fabrinet (NYSE:FN) has risen 55.14% since March 1, 2016 and is uptrending. It has outperformed by 45.89% the S&P500.
The move comes after 9 months positive chart setup for the $1.65 billion company. It was reported on Oct, 4 by Barchart.com. We have $67.40 PT which if reached, will make NYSE:FN worth $792.00M more.
Analysts await Fabrinet (NYSE:FN) to report earnings on November, 7. They expect $0.72 EPS, up 89.47% or $0.34 from last year’s $0.38 per share. FN’s profit will be $26.09 million for 15.81 P/E if the $0.72 EPS becomes a reality. After $0.55 actual EPS reported by Fabrinet for the previous quarter, Wall Street now forecasts 30.91% EPS growth.
Fabrinet (NYSE:FN) Ratings Coverage
Out of 6 analysts covering Fabrinet (NYSE:FN), 6 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. Fabrinet has been the topic of 17 analyst reports since August 14, 2015 according to StockzIntelligence Inc. The firm earned “Overweight” rating on Tuesday, August 16 by JP Morgan. As per Tuesday, June 14, the company rating was maintained by Needham. The rating was maintained by Stifel Nicolaus with “Buy” on Tuesday, November 3. The rating was initiated by Northland Capital with “Outperform” on Monday, August 31. JP Morgan maintained Fabrinet (NYSE:FN) rating on Thursday, March 31. JP Morgan has “Overweight” rating and $33 price target. The firm has “Overweight” rating by JP Morgan given on Friday, May 27. On Thursday, August 20 the stock rating was downgraded by Zacks to “Hold”. Needham maintained Fabrinet (NYSE:FN) rating on Wednesday, December 16. Needham has “Buy” rating and $28 price target. Needham maintained Fabrinet (NYSE:FN) on Tuesday, February 2 with “Buy” rating. Piper Jaffray maintained the shares of FN in a report on Monday, January 4 with “Overweight” rating.
According to Zacks Investment Research, “Fabrinet provides precision optical, electro-mechanical and electronic manufacturing services to original equipment manufacturers of complex products, such as optical communication components, modules and sub-systems, industrial lasers and sensors. The Company offers a broad range of advanced optical capabilities across the entire manufacturing process, including process engineering, design for manufacturability, supply chain management, manufacturing, final assembly and test. Fabrinet manufactures, assembles, and tests products for customers at its main manufacturing facilities in Bangkok, Thailand. The Company designs and manufactures its own bulk optical materials and components at its facilities in Fuzhou, the People’s Republic of China, and New Jersey, USA.”
Insitutional Activity: The institutional sentiment increased to 1.3 in Q2 2016. Its up 0.15, from 1.15 in 2016Q1. The ratio is positive, as 16 funds sold all Fabrinet shares owned while 63 reduced positions. 36 funds bought stakes while 67 increased positions. They now own 31.89 million shares or 0.16% more from 31.84 million shares in 2016Q1.
Goldman Sachs Gru Inc holds 0% or 107,601 shares in its portfolio. Navellier & Assoc owns 12,337 shares or 0.07% of their US portfolio. Comml Bank Of New York Mellon accumulated 1.34 million shares or 0.02% of the stock. Calvert Inv Mgmt Inc has invested 0.12% of its portfolio in Fabrinet (NYSE:FN). Barclays Public Limited Co has invested 0% of its portfolio in Fabrinet (NYSE:FN). Schroder Invest Gru last reported 0.03% of its portfolio in the stock. Price T Rowe Associate Inc Md last reported 7,490 shares in the company. Eam Lc holds 0.13% of its portfolio in Fabrinet (NYSE:FN) for 22,486 shares. The Michigan-based Ls Investment Advsr Llc has invested 0% in Fabrinet (NYSE:FN). Dimensional Fund Advisors L P last reported 2.06 million shares in the company. Regions Corporation holds 0.02% or 44,041 shares in its portfolio. Tci Wealth Advisors holds 0.01% of its portfolio in Fabrinet (NYSE:FN) for 587 shares. Prudential Fincl reported 73,529 shares or 0% of all its holdings. Sei Invests Company holds 198 shares or 0% of its portfolio. Stifel accumulated 0% or 13,297 shares.
Insider Transactions: Since May 16, 2016, the stock had 0 insider purchases, and 7 sales for $12.41 million net activity. The insider Bahrami Homa sold $176,720. 19,942 Fabrinet (NYSE:FN) shares with value of $667,997 were sold by LEVINSON FRANK H. The insider Mitchell David T. sold $2.54 million. Shares for $200,305 were sold by Olson Rollance E.. Shares for $2.90 million were sold by Gill Harpal.
More notable recent Fabrinet (NYSE:FN) news were published by: Seekingalpha.com which released: “Fabrinet: Under The Radar And Undervalued” on May 06, 2016, also Finance.Yahoo.com with their article: “Fabrinet meets 4Q profit forecasts” published on August 15, 2016, Seekingalpha.com published: “Fabrinet Is A Buy Going Into Earnings” on July 26, 2016. More interesting news about Fabrinet (NYSE:FN) were released by: Seekingalpha.com and their article: “Fabrinet: Making The Case For Further Stock Gains” published on August 22, 2016 as well as Businesswire.com‘s news article titled: “Fabrinet Announces Acquisition of Exception Global CEM Solutions Ltd.” with publication date: September 15, 2016.
FN Company Profile
Fabrinet, incorporated on August 12, 1999, provides optical packaging and precision optical, electro-mechanical and electronic manufacturing services to original equipment manufacturers (OEMs) of products, such as optical communication components, modules and sub-systems, industrial lasers, medical devices and sensors. The Firm offers a range of optical and electro-mechanical capabilities across the manufacturing process, including process design and engineering, supply chain management, manufacturing, complex printed circuit board assembly, advanced packaging, integration, final assembly and test. The Company’s customer base includes companies in industries that require precision manufacturing capabilities, such as optical communications, industrial lasers, automotive, medical and sensors. The Company’s clients in these industries support end-markets, including automotive, biotechnology, communications, materials processing, medical devices, metrology and semiconductor processing.
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