Fabrinet (NYSE:FN) Upgraded by Zacks Research to Strong-Buy Rating

Zacks Research upgraded shares of Fabrinet (NYSE:FN) from a hold rating to a strong-buy rating in a research note published on Tuesday,Zacks.com reports.

FN has been the subject of a number of other research reports. B. Riley Financial lifted their target price on shares of Fabrinet from $366.00 to $452.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 3rd. Fox Advisors cut shares of Fabrinet from a “strong-buy” rating to an “equal weight” rating in a research report on Tuesday. Rosenblatt Securities lifted their target price on shares of Fabrinet from $715.00 to $750.00 and gave the stock a “buy” rating in a research report on Tuesday. Wolfe Research upgraded shares of Fabrinet from a “peer perform” rating to an “outperform” rating and set a $540.00 target price for the company in a research report on Wednesday, February 4th. Finally, Barclays lifted their target price on shares of Fabrinet from $548.00 to $702.00 and gave the stock an “overweight” rating in a research report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $661.75.

Fabrinet Trading Up 2.4%

Shares of FN opened at $676.20 on Tuesday. The stock has a market cap of $24.23 billion, a P/E ratio of 58.09 and a beta of 1.22. The company has a 50-day moving average of $592.96 and a two-hundred day moving average of $508.64. Fabrinet has a 12-month low of $199.86 and a 12-month high of $734.79.

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. The company had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.19 billion. Fabrinet had a net margin of 9.94% and a return on equity of 19.83%. The firm’s quarterly revenue was up 39.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.52 earnings per share. Fabrinet has set its Q4 2026 guidance at 3.720-3.870 EPS. As a group, analysts forecast that Fabrinet will post 12.8 EPS for the current fiscal year.

Hedge Funds Weigh In On Fabrinet

A number of institutional investors have recently modified their holdings of the company. Dorsey Wright & Associates acquired a new position in shares of Fabrinet in the first quarter valued at approximately $8,520,000. Future Fund LLC raised its position in shares of Fabrinet by 28.2% in the first quarter. Future Fund LLC now owns 5,185 shares of the technology company’s stock valued at $2,704,000 after buying an additional 1,141 shares during the last quarter. Assetmark Inc. raised its position in shares of Fabrinet by 499.3% in the first quarter. Assetmark Inc. now owns 4,189 shares of the technology company’s stock valued at $2,185,000 after buying an additional 3,490 shares during the last quarter. Bessemer Group Inc. raised its position in shares of Fabrinet by 6.9% in the first quarter. Bessemer Group Inc. now owns 31,480 shares of the technology company’s stock valued at $16,417,000 after buying an additional 2,028 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its position in shares of Fabrinet by 108.1% in the first quarter. Allspring Global Investments Holdings LLC now owns 165,146 shares of the technology company’s stock valued at $88,350,000 after buying an additional 85,780 shares during the last quarter. Institutional investors and hedge funds own 97.38% of the company’s stock.

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.