Fabrinet (NYSE:FN) Downgraded by Zacks Research to Hold

Fabrinet (NYSE:FN) was downgraded by equities research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Monday,Zacks.com reports.

Other research analysts have also recently issued reports about the company. JPMorgan Chase & Co. reduced their target price on Fabrinet from $700.00 to $680.00 and set a “neutral” rating for the company 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. Rosenblatt Securities increased their price objective 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 raised their price objective on shares of Fabrinet from $548.00 to $702.00 and gave the stock an “overweight” rating in a report on Tuesday, May 5th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $800.00 target price on shares of Fabrinet in a research note on Tuesday, May 5th. Six investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $661.75.

Fabrinet Stock Down 7.5%

Shares of FN opened at $587.73 on Monday. The stock’s 50-day moving average price is $660.68 and its 200 day moving average price is $555.75. The firm has a market capitalization of $21.06 billion, a price-to-earnings ratio of 50.49 and a beta of 1.17. Fabrinet has a 12-month low of $255.95 and a 12-month high of $748.89.

Fabrinet (NYSE:FN) last announced its quarterly earnings data on Monday, May 4th. The technology company reported $3.72 EPS for the quarter, topping analysts’ consensus estimates of $3.58 by $0.14. Fabrinet had a return on equity of 19.83% and a net margin of 9.94%.The company had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter last year, the company earned $2.52 EPS. The company’s quarterly revenue was up 39.3% on a year-over-year basis. Fabrinet has set its Q4 2026 guidance at 3.720-3.870 EPS. Equities research analysts expect that Fabrinet will post 12.96 EPS for the current year.

Insider Buying and Selling

In other Fabrinet news, Director Homa Bahrami sold 2,500 shares of the company’s stock in a transaction 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 sale, the director directly owned 16,233 shares in the company, valued at $11,556,435.03. This represents a 13.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.24% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Core Wealth Advisors LLC bought a new stake in shares of Fabrinet in the 4th quarter worth about $25,000. Westend Capital Management LLC bought a new position in Fabrinet during the 4th quarter valued at about $29,000. Harbour Investments Inc. lifted its holdings in Fabrinet by 75.0% during the 4th quarter. Harbour Investments Inc. now owns 63 shares of the technology company’s stock valued at $29,000 after purchasing an additional 27 shares during the last quarter. Cassaday & Co Wealth Management LLC acquired a new position in Fabrinet in the first quarter valued at about $31,000. Finally, Creative Financial Designs Inc. ADV acquired a new position in Fabrinet in the fourth quarter valued at about $32,000. 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.