Fabrinet (NYSE:FN) Shares Gap Down – Here’s What Happened

Fabrinet (NYSE:FN)’s stock price gapped down prior to trading on Tuesday . The stock had previously closed at $499.61, but opened at $452.00. Fabrinet shares last traded at $425.7870, with a volume of 292,032 shares trading hands.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Weiss Ratings reissued a “buy (b-)” rating on shares of Fabrinet in a report on Monday, December 29th. Zacks Research downgraded shares of Fabrinet from a “strong-buy” rating to a “hold” rating in a report on Monday, January 5th. JPMorgan Chase & Co. upped their price objective on shares of Fabrinet from $430.00 to $530.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 4th. Susquehanna raised their price objective on shares of Fabrinet from $550.00 to $570.00 and gave the stock a “positive” rating in a report on Thursday, January 22nd. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $550.00 target price on shares of Fabrinet in a research note on Tuesday. Eight research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $511.11.

Fabrinet Price Performance

The firm has a market capitalization of $15.90 billion, a P/E ratio of 42.51 and a beta of 1.04. The company’s 50 day moving average price is $473.29 and its 200 day moving average price is $407.22.

Fabrinet (NYSE:FN) last posted its quarterly earnings data on Monday, February 2nd. The technology company reported $3.36 earnings per share for the quarter, topping the consensus estimate of $3.26 by $0.10. The firm had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.08 billion. Fabrinet had a net margin of 9.69% and a return on equity of 18.69%. Fabrinet’s revenue was up 35.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.61 EPS. Fabrinet has set its Q3 2026 guidance at 3.450-3.600 EPS. On average, research analysts anticipate that Fabrinet will post 9.4 EPS for the current fiscal year.

Insider Activity at Fabrinet

In related news, Director Thomas F. Kelly sold 2,200 shares of Fabrinet stock in a transaction dated Thursday, December 4th. The stock was sold at an average price of $464.14, for a total value of $1,021,108.00. Following the completion of the sale, the director directly owned 18,789 shares in the company, valued at $8,720,726.46. This trade represents a 10.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Seamus Grady sold 22,451 shares of the company’s stock in a transaction dated Wednesday, November 26th. The shares were sold at an average price of $446.95, for a total transaction of $10,034,474.45. Following the transaction, the chief executive officer owned 23,573 shares in the company, valued at approximately $10,535,952.35. The trade was a 48.78% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 28,151 shares of company stock worth $12,643,707 over the last 90 days. Insiders own 0.24% of the company’s stock.

Hedge Funds Weigh In On Fabrinet

A number of hedge funds and other institutional investors have recently bought and sold shares of FN. Balboa Wealth Partners boosted its position in shares of Fabrinet by 2.5% in the 4th quarter. Balboa Wealth Partners now owns 863 shares of the technology company’s stock worth $393,000 after purchasing an additional 21 shares during the last quarter. Richardson Financial Services Inc. lifted its holdings in shares of Fabrinet by 12.2% during the 4th quarter. Richardson Financial Services Inc. now owns 211 shares of the technology company’s stock valued at $96,000 after purchasing an additional 23 shares in the last quarter. Allworth Financial LP grew its position in shares of Fabrinet by 7.4% in the 4th quarter. Allworth Financial LP now owns 405 shares of the technology company’s stock valued at $184,000 after purchasing an additional 28 shares during the period. Cullen Frost Bankers Inc. increased its stake in Fabrinet by 20.4% during the 3rd quarter. Cullen Frost Bankers Inc. now owns 171 shares of the technology company’s stock worth $62,000 after purchasing an additional 29 shares in the last quarter. Finally, Coldstream Capital Management Inc. lifted its stake in Fabrinet by 3.2% in the second quarter. Coldstream Capital Management Inc. now owns 998 shares of the technology company’s stock valued at $294,000 after buying an additional 31 shares in the last quarter. 97.38% of the stock is owned by institutional investors.

About Fabrinet

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.