Fabrinet (NYSE:FN) Stock Price Down 11.2% – What’s Next?

Shares of Fabrinet (NYSE:FN) dropped 11.2% during trading on Thursday . The stock traded as low as $646.40 and last traded at $644.1480. Approximately 125,792 shares changed hands during trading, a decline of 84% from the average daily volume of 771,743 shares. The stock had previously closed at $725.00.

Analysts Set New Price Targets

FN has been the topic of several recent analyst reports. Wolfe Research upgraded shares of Fabrinet from a “peer perform” rating to an “outperform” rating and set a $540.00 price objective on the stock in a research report on Wednesday, February 4th. Fox Advisors downgraded shares of Fabrinet from a “strong-buy” rating to an “equal weight” rating in a research report on Tuesday, May 5th. JPMorgan Chase & Co. decreased their price objective on shares of Fabrinet from $700.00 to $680.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 5th. Northland Securities set a $800.00 price target on shares of Fabrinet in a report on Monday, April 20th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $800.00 price target on shares of Fabrinet in a report on Tuesday, May 5th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $661.75.

Fabrinet Stock Performance

The company has a market capitalization of $25.37 billion, a P/E ratio of 60.66 and a beta of 1.17. The business’s fifty day simple moving average is $649.44 and its 200-day simple moving average is $542.93.

Fabrinet (NYSE:FN) last announced its quarterly 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. The company had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.19 billion. Fabrinet had a net margin of 9.94% and a return on equity of 19.83%. Fabrinet’s revenue for the quarter was up 39.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.52 EPS. Fabrinet has set its Q4 2026 guidance at 3.720-3.870 EPS. As a group, analysts forecast that Fabrinet will post 12.96 EPS for the current year.

Insider Activity at Fabrinet

In other Fabrinet news, Director Homa Bahrami sold 2,500 shares of Fabrinet stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $711.91, for a total value of $1,779,775.00. Following the completion of the transaction, the director directly owned 16,233 shares of the company’s stock, valued at $11,556,435.03. This trade represents a 13.35% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.24% of the stock is owned by insiders.

Hedge Funds Weigh In On Fabrinet

A number of institutional investors and hedge funds have recently made changes to their positions in FN. Glenmede Trust Co. NA increased its stake in shares of Fabrinet by 1.7% during the first quarter. Glenmede Trust Co. NA now owns 1,168 shares of the technology company’s stock valued at $609,000 after buying an additional 19 shares during the period. Balboa Wealth Partners lifted 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 period. Richardson Financial Services Inc. lifted its position in shares of Fabrinet by 12.2% in the 4th quarter. Richardson Financial Services Inc. now owns 211 shares of the technology company’s stock worth $96,000 after purchasing an additional 23 shares during the period. REAP Financial Group LLC lifted its position in shares of Fabrinet by 15.7% in the 4th quarter. REAP Financial Group LLC now owns 192 shares of the technology company’s stock worth $87,000 after purchasing an additional 26 shares during the period. Finally, Harbour Investments Inc. lifted its position in shares of Fabrinet by 75.0% in the 4th quarter. Harbour Investments Inc. now owns 63 shares of the technology company’s stock worth $29,000 after purchasing an additional 27 shares during the period. 97.38% of the stock is owned by hedge funds and other institutional investors.

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.