Fabrinet (NYSE:FN) Stock Price Down 7.5% Following Analyst Downgrade

Fabrinet (NYSE:FN)’s stock price was down 7.5% on Tuesday after Zacks Research downgraded the stock from a strong-buy rating to a hold rating. The stock traded as low as $592.00 and last traded at $588.22. Approximately 129,778 shares were traded during trading, a decline of 83% from the average daily volume of 775,324 shares. The stock had previously closed at $635.58.

FN has been the subject of several other research reports. JPMorgan Chase & Co. reduced their price target on shares of Fabrinet from $700.00 to $680.00 and set a “neutral” rating for the company in a report on Tuesday, May 5th. Northland Securities set a $800.00 price objective on shares of Fabrinet in a report on Monday, April 20th. Barclays boosted their price objective on shares of Fabrinet from $548.00 to $702.00 and gave the company an “overweight” rating in a research report on Tuesday, May 5th. Rosenblatt Securities increased their target price on Fabrinet from $715.00 to $750.00 and gave the stock a “buy” rating in a report on Tuesday, May 5th. Finally, Weiss Ratings raised Fabrinet from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday. Six equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $661.75.

Insider Activity

In other news, Director Homa Bahrami sold 2,500 shares of the stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $711.91, for a total value of $1,779,775.00. Following the completion of the sale, the director owned 16,233 shares of the company’s stock, valued at approximately $11,556,435.03. This represents a 13.35% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.24% of the stock is currently owned by corporate insiders.

Institutional Trading of Fabrinet

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Core Wealth Advisors LLC acquired a new stake in Fabrinet in the 4th quarter valued at about $25,000. Westend Capital Management LLC bought a new stake in Fabrinet in the fourth quarter valued at approximately $29,000. Harbour Investments Inc. lifted its position in shares of Fabrinet by 75.0% in the fourth quarter. Harbour Investments Inc. now owns 63 shares of the technology company’s stock valued at $29,000 after buying an additional 27 shares during the last quarter. Cassaday & Co Wealth Management LLC bought a new position in shares of Fabrinet during the 1st quarter worth approximately $31,000. Finally, Creative Financial Designs Inc. ADV acquired a new position in shares of Fabrinet during the 4th quarter worth approximately $32,000. 97.38% of the stock is owned by institutional investors.

Fabrinet Stock Performance

The business has a fifty day moving average of $661.32 and a two-hundred day moving average of $556.71. The firm has a market capitalization of $21.53 billion, a price-to-earnings ratio of 50.24 and a beta of 1.17.

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

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.