Fabrinet (NYSE:FN) Reaches New 52-Week High – Still a Buy?

Fabrinet (NYSE:FN) hit a new 52-week high during trading on Thursday . The company traded as high as $748.89 and last traded at $742.00, with a volume of 829115 shares traded. The stock had previously closed at $696.07.

Analysts Set New Price Targets

A number of research analysts recently commented on FN shares. B. Riley Financial raised their price target on Fabrinet from $366.00 to $452.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 3rd. Northland Securities set a $800.00 price objective on Fabrinet in a research note on Monday, April 20th. Zacks Research raised Fabrinet from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 5th. Wolfe Research raised Fabrinet from a “peer perform” rating to an “outperform” rating and set a $540.00 price objective on the stock in a research note on Wednesday, February 4th. Finally, Susquehanna raised their price objective on Fabrinet from $550.00 to $570.00 and gave the company a “positive” rating in a research note on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, Fabrinet presently has a consensus rating of “Moderate Buy” and an average target price of $661.75.

Fabrinet Stock Up 6.6%

The firm has a 50 day moving average of $599.64 and a two-hundred day moving average of $516.94. The firm has a market capitalization of $26.59 billion, a price-to-earnings ratio of 63.75 and a beta of 1.22.

Fabrinet (NYSE:FN) last released its quarterly earnings data on Monday, May 4th. The technology company reported $3.72 earnings per share for the quarter, beating the consensus estimate of $3.58 by $0.14. Fabrinet had a return on equity of 19.83% and a net margin of 9.94%.The business had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same period last year, the firm posted $2.52 earnings per share. Fabrinet’s revenue was up 39.3% compared to the same quarter last year. Fabrinet has set its Q4 2026 guidance at 3.720-3.870 EPS. Sell-side analysts forecast that Fabrinet will post 12.96 EPS for the current fiscal year.

Institutional Trading of Fabrinet

A number of hedge funds have recently made changes to their positions in the company. Keebeck Wealth Management acquired a new stake in shares of Fabrinet during the first quarter valued at about $362,000. Bowen Hanes & Co. Inc. boosted its stake in shares of Fabrinet by 97.4% during the first quarter. Bowen Hanes & Co. Inc. now owns 98,715 shares of the technology company’s stock valued at $51,482,000 after purchasing an additional 48,715 shares in the last quarter. Sei Investments Co. boosted its stake in shares of Fabrinet by 22.0% during the first quarter. Sei Investments Co. now owns 89,843 shares of the technology company’s stock valued at $46,854,000 after purchasing an additional 16,218 shares in the last quarter. Lido Advisors LLC boosted its stake in shares of Fabrinet by 7.7% during the first quarter. Lido Advisors LLC now owns 1,869 shares of the technology company’s stock valued at $975,000 after purchasing an additional 134 shares in the last quarter. Finally, Cetera Investment Advisers boosted its stake in shares of Fabrinet by 49.9% during the first quarter. Cetera Investment Advisers now owns 21,474 shares of the technology company’s stock valued at $11,199,000 after purchasing an additional 7,146 shares in the last quarter. 97.38% of the stock is owned by institutional investors and hedge funds.

Fabrinet Company Profile

Fabrinet is a global provider of advanced optical packaging and precision optical, electro?mechanical and electronic manufacturing services (CEM). The company specializes in complex manufacturing processes for original equipment manufacturers (OEMs) in communications, data center, industrial, instrumentation and medical markets. Key capabilities include high?precision fiber alignment, micro?assembly, testing and diagnostics, and integration of electro?optic subassemblies.

Incorporated in 2000, Fabrinet operates under a corporate structure headquartered in Singapore with additional regional offices and design centers in the Americas, Europe and Asia.