Fabrinet (NYSE:FN) Stock Rating Lowered by Wall Street Zen

Fabrinet (NYSE:FN) was downgraded by stock analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued on Monday.

Several other research analysts also recently issued reports on the stock. JPMorgan Chase & Co. dropped their price objective on shares of Fabrinet from $700.00 to $680.00 and set a “neutral” rating on the stock in a report on Tuesday, May 5th. Rosenblatt Securities increased their target price on shares of Fabrinet from $715.00 to $750.00 and gave the company a “buy” rating in a research note on Tuesday, May 5th. Barclays boosted their price target on Fabrinet from $548.00 to $702.00 and gave the company an “overweight” rating in a research note on Tuesday, May 5th. Weiss Ratings cut Fabrinet from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, June 30th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $800.00 price objective on shares of Fabrinet in a research report on Tuesday, May 5th. Six analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, Fabrinet currently has an average rating of “Moderate Buy” and an average price target of $661.75.

Fabrinet Trading Up 6.6%

Shares of Fabrinet stock opened at $527.04 on Monday. The company’s fifty day simple moving average is $592.74 and its 200-day simple moving average is $564.59. The company has a market cap of $18.88 billion, a price-to-earnings ratio of 45.28 and a beta of 1.20. Fabrinet has a 1 year low of $272.49 and a 1 year high of $748.89.

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, topping analysts’ consensus estimates of $3.58 by $0.14. Fabrinet had a net margin of 9.94% and a return on equity of 19.83%. The business had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same quarter in the previous 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. As a group, research analysts forecast that Fabrinet will post 12.97 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Homa Bahrami sold 2,500 shares of the firm’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $711.91, for a total transaction 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 approximately $11,556,435.03. This trade represents a 13.35% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.24% of the company’s stock.

Institutional Trading of Fabrinet

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FN. Swedbank AB acquired a new position in shares of Fabrinet in the 4th quarter worth approximately $5,372,000. M&T Bank Corp lifted its position in shares of Fabrinet by 196.5% during the 4th quarter. M&T Bank Corp now owns 2,345 shares of the technology company’s stock worth $1,068,000 after buying an additional 1,554 shares during the period. JSF Financial LLC acquired a new stake in Fabrinet in the 4th quarter valued at $957,000. Principal Financial Group Inc. boosted its stake in Fabrinet by 4.0% in the 4th quarter. Principal Financial Group Inc. now owns 187,883 shares of the technology company’s stock valued at $85,539,000 after buying an additional 7,233 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in Fabrinet by 117.7% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,979 shares of the technology company’s stock valued at $3,633,000 after buying an additional 4,314 shares in the last quarter. Institutional investors 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.