BlackRock Fund Advisors has recently announced that it has increased stake in Fabrinet (NYSE:FN) by 1.36%. After grabbing 5.28 million shares, the institutional investor is now in possession of 70766.0 shares of the Technology Company. The new investment brought the stake of investor firm to 14.43% having worth around $677.05 million. Moreover, The Vanguard Group, Inc. increased its share by 3424.0 to have a control over 4.08 million shares. And Fidelity Management & Research Co raised its holdings to 0.18 million shares by acquiring 1.56 million shares or 4.27% of the stake.
Fabrinet (FN) concluded trading on 01/19/23 at a closing price of $131.77, with 0.19 million shares of worth about $24.73 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 50.75% during that period and on Thursday the price saw a loss of about -2.57%. Currently the company’s common shares owned by public are about 36.53M shares, out of which, 36.41M shares are available for trading.
A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 5 analysts are covering the FN stock and their offered price forecasts bring an average price target of $137.90. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $161.00 and could fall to a lowest price of $110.00. The stock’s current price level is 3.75% above of average price target set by the analysts, while a rise to estimated low would result in loss of -19.79% for the stock. However, touching the estimated high of $161.00 would mean a gain of 18.16% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 54 times over the past 12 months. They bought 199,464 shares in 18 of the transactions. In 36 selling transactions, insiders dumped 272,680 shares.
iShares Core S&P Small Cap ETF, American Funds Small Cap World Fu, and Vanguard Total Stock Market Index are the top 3 mutual funds which are holding stakes in Fabrinet iShares Core S&P Small Cap ETF is currently holding 2.7 million shares of worth totaling $346.48 million. The company recently came selling 6465.0 shares which brought its stake up to 7.39% of the company’s outstanding shares. American Funds Small Cap World Fu bought 0.14 million shares, after which its hold over company’s outstanding shares expand to 5.25%, leaving 1.92 million shares with the mutual fund that have a worth of about $246.09 million. Vanguard Total Stock Market Index, after buying 1.1 million shares, have now control over 3.00% of the stake in the company. It holds 1605.0 shares of worth $140.8 million.
Fabrinet (NYSE: FN) started trading at $134.60, below -$0.64 from concluding price of the previous day. However, the stock later moved at a day high price of 135.47, or with a loss of -2.57%. Stock saw a price change of -2.16% in past 5 days and over the past one month there was a price change of 5.28%. Year-to-date (YTD), FN shares are showing a performance of 2.77% which increased to 15.63% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $74.57 but also hit the highest price of $140.18 during that period. The average intraday trading volume for Fabrinet shares is 192.00K. The stock is currently trading 0.75% above its 20-day simple moving average (SMA20), while that difference is up 2.44% for SMA50 and it goes to 27.25% higher than SMA200.
BlackRock Fund Advisors acquired 5.28 million shares of Fabrinet having value of about $677.05 million. Data submitted at the U.S SEC by BlackRock Fund Advisors revealed that the firm now holds 70766.0 shares in the company valued at close to $9324835.82, or have control over 1.36% stake in the company. Holding of mutual funds in the company is about 30.79% while other institutional holders and individual stake holders have control over 67.08% and 11.39% of the stake respectively.
The stock has a current market capitalization of $4.76B and its 3Y-monthly beta is at 1.11. PE ratio of stock for trailing 12 months is 22.25, while it has posted earnings per share of $5.92 in the same period. Its PEG reads 2.48 and has Quick Ratio of 1.90 while making debt-to-equity ratio of 0.02. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for FN, volatility over the week remained 2.54% while standing at 2.64% over the month.
Analysts are in expectations that Fabrinet (FN) stock would likely to be making an EPS of $1.74 in the current quarter, while forecast for next quarter EPS is $1.73 and it is $8.12 for next year. For the current quarter EPS, analysts have given the company a lowest target $1.7 which is $1.77 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $1.45 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 35.70% while it is estimated to increase by 9.25% in next year. EPS is likely to shrink at an annualized rate of 8.96% for next 5-years, compared to annual growth of 15.90% made by the stock over the past 5-years.
Analysts at 5 brokerage firms have issued recommendations for the Fabrinet (FN)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.20. Out of those 5 Wall Street analysts, 4 recommended a “Buy” rating, while 1 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by JP Morgan on December 20, 2022 offering an Overweight rating for the stock and assigned a target price range of between $126 and $156 to it. Coverage by Loop Capital stated Fabrinet (FN) stock as a Buy in their note to investors on April 26, 2022, suggesting a price target of $129 for the stock. On November 02, 2021, Northland Capital Reiterated their recommendations, while on November 02, 2021, Needham Reiterated their ratings for the stock with a price target of $130. Stock get a Neutral rating from JP Morgan on November 02, 2021.