What’s Ahead for Fabrinet After Today’s Huge Increase?

The stock of Fabrinet (NYSE:FN) is a huge mover today! About 151,113 shares traded hands. Fabrinet (NYSE:FN) has risen 55.34% since January 4, 2016 and is uptrending. It has outperformed by 46.99% the S&P500. The move comes after 8 months positive chart setup for the $1.37 billion company. It was reported on Aug, 9 by Barchart.com. We have $62.07 PT which if reached, will make NYSE:FN worth $863.10M more.

Analysts await Fabrinet (NYSE:FN) to report earnings on August, 15. They expect $0.60 earnings per share, up 76.47% or $0.26 from last year’s $0.34 per share. FN’s profit will be $21.59 million for 15.87 P/E if the $0.60 EPS becomes a reality. After $0.51 actual earnings per share reported by Fabrinet for the previous quarter, Wall Street now forecasts 17.65% EPS growth.

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 15 analyst reports since August 14, 2015 according to StockzIntelligence Inc.

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.”

The institutional sentiment decreased to 1.15 in 2016 Q1. Its down 0.26, from 1.41 in 2015Q4. The ratio dropped, as 16 funds sold all Fabrinet shares owned while 63 reduced positions. 28 funds bought stakes while 63 increased positions. They now own 31.84 million shares or 0.42% less from 31.98 million shares in 2015Q4.

Marvin & Palmer Associates Inc holds 9.2% of its portfolio in Fabrinet for 244,200 shares. Whale Rock Capital Management Llc owns 1.14 million shares or 3.44% of their US portfolio. Moreover, Quentec Asset Management Llc has 3.39% invested in the company for 799,558 shares. The New York-based Paradigm Capital Management Inc Ny has invested 2.09% in the stock. Hood River Capital Management Llc, a Oregon-based fund reported 465,882 shares.


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