Zacks Research Downgrades Fabrinet (NYSE:FN) to Hold

Fabrinet (NYSE:FN) was downgraded by investment analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued on Monday,Zacks.com reports.

A number of other brokerages have also issued reports on FN. Rosenblatt Securities lifted their target price on Fabrinet from $715.00 to $750.00 and gave the company a “buy” rating in a research report on Tuesday, May 5th. Needham & Company LLC reissued a “buy” rating and issued a $800.00 target price on shares of Fabrinet in a research report on Tuesday, May 5th. Fox Advisors lowered Fabrinet from a “strong-buy” rating to an “equal weight” rating in a research report on Tuesday, May 5th. Weiss Ratings raised Fabrinet from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday. Finally, JPMorgan Chase & Co. lowered their price target on Fabrinet from $700.00 to $680.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 5th. Six equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $661.75.

Fabrinet Stock Performance

Shares of Fabrinet stock opened at $587.73 on Monday. The business’s 50 day simple moving average is $660.68 and its 200 day simple moving average is $555.75. Fabrinet has a 52-week low of $255.95 and a 52-week high of $748.89. The firm has a market cap of $21.06 billion, a PE ratio of 50.49 and a beta of 1.17.

Fabrinet (NYSE:FN) last announced its earnings results on Monday, May 4th. The technology company reported $3.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 quarter last year, the firm earned $2.52 EPS. Fabrinet’s revenue for the quarter was up 39.3% compared to the same quarter last year. Fabrinet has set its Q4 2026 guidance at 3.720-3.870 EPS. As a group, equities research analysts predict that Fabrinet will post 12.96 EPS for the current year.

Insider Buying and Selling at Fabrinet

In other Fabrinet news, Director Homa Bahrami sold 2,500 shares of the business’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $711.91, for a total transaction of $1,779,775.00. Following the transaction, the director owned 16,233 shares of the company’s stock, valued at $11,556,435.03. The trade was a 13.35% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.24% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in FN. Price T Rowe Associates Inc. MD increased its position in shares of Fabrinet by 163.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 4,041,227 shares of the technology company’s stock worth $1,839,891,000 after purchasing an additional 2,504,841 shares during the last quarter. Wasatch Advisors LP increased its holdings in shares of Fabrinet by 45.1% during the 2nd quarter. Wasatch Advisors LP now owns 1,779,665 shares of the technology company’s stock worth $524,432,000 after acquiring an additional 553,196 shares during the last quarter. Norges Bank acquired a new position in shares of Fabrinet during the 4th quarter worth approximately $193,766,000. JPMorgan Chase & Co. increased its holdings in shares of Fabrinet by 64.8% during the 4th quarter. JPMorgan Chase & Co. now owns 1,065,414 shares of the technology company’s stock worth $485,063,000 after acquiring an additional 419,081 shares during the last quarter. Finally, Alliancebernstein L.P. increased its holdings in shares of Fabrinet by 226.1% during the 3rd quarter. Alliancebernstein L.P. now owns 499,177 shares of the technology company’s stock worth $182,010,000 after acquiring an additional 346,113 shares during the last quarter. Institutional investors and hedge funds own 97.38% of the company’s stock.

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.