Stock Buzzer: Could Fabrinet See a Reversal After This Very Weak Session?

Stock Buzzer: Could Fabrinet See a Reversal After This Very Weak Session?

The stock of Fabrinet (NYSE:FN) is a huge mover today! About 552,112 shares traded hands or 23.93% up from the average. Fabrinet (NYSE:FN) has risen 72.56% since March 8, 2016 and is uptrending. It has outperformed by 63.25% the S&P500.
The move comes after 6 months negative chart setup for the $1.53 billion company. It was reported on Oct, 11 by Barchart.com. We have $39.01 PT which if reached, will make NYSE:FN worth $107.10 million less.

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 $26.26M for 14.57 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. As per Monday, August 31, the company rating was initiated by Northland Capital. Northland Capital maintained the stock with “Outperform” rating in Tuesday, November 3 report. The rating was maintained by Stifel Nicolaus on Tuesday, November 3 with “Buy”. On Friday, May 27 the stock rating was maintained by JP Morgan with “Overweight”. The stock of Fabrinet (NYSE:FN) has “Hold” rating given on Thursday, August 20 by Zacks. The company was maintained on Tuesday, May 3 by Stifel Nicolaus. Piper Jaffray maintained it with “Overweight” rating and $29.0 target price in Monday, January 4 report. The rating was maintained by Stifel Nicolaus on Tuesday, February 2 with “Buy”. As per Thursday, March 31, the company rating was maintained by JP Morgan. The company was maintained on Tuesday, February 2 by Needham.

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.
Nationwide Fund Advsr owns 26,796 shares or 0% of their US portfolio. Moreover, Granite Partners Limited Liability Co has 1.05% invested in Fabrinet (NYSE:FN) for 357,902 shares. Teacher Retirement Sys Of Texas has 4,223 shares for 0% of their US portfolio. The Florida-based Raymond James Associates has invested 0% in Fabrinet (NYSE:FN). Walleye Trading Limited Liability Company accumulated 0% or 498 shares. Clarivest Asset Management Llc last reported 0.02% of its portfolio in the stock. Federated Pa accumulated 0% or 13,104 shares. Wells Fargo & Mn last reported 0% of its portfolio in the stock. The Illinois-based Envestnet Asset Mngmt Inc has invested 0% in Fabrinet (NYSE:FN). Sector Pension Investment Board last reported 0.01% of its portfolio in the stock. Driehaus Cap Mngmt Limited Liability holds 0.51% of its portfolio in Fabrinet (NYSE:FN) for 383,413 shares. Avalon Advsr Limited Liability last reported 30,768 shares in the company. Tiaa Cref Investment Mngmt Ltd Liability Co accumulated 189,135 shares or 0.01% of the stock. Fmr Ltd Liability Corporation has 0.01% invested in the company for 1.47 million shares. Victory Capital Mngmt Incorporated, a Ohio-based fund reported 214,392 shares.

Insider Transactions: Since May 16, 2016, the stock had 0 insider buys, and 8 insider sales for $15.71 million net activity. 82,703 Fabrinet (NYSE:FN) shares with value of $2.90 million were sold by Gill Harpal. 75,000 shares with value of $2.54 million were sold by Mitchell David T. on Monday, May 16. $200,305 worth of Fabrinet (NYSE:FN) was sold by Olson Rollance E.. On Thursday, May 26 Bahrami Homa sold $176,720 worth of the stock or 5,000 shares. 19,942 shares were sold by LEVINSON FRANK H, worth $667,997 on Tuesday, May 24.

Another recent and important Fabrinet (NYSE:FN) news was published by Businesswire.com which published an article titled: “Fabrinet Announces Acquisition of Exception Global CEM Solutions Ltd.” on 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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