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

Wall Street Zen cut shares of Fabrinet (NYSE:FN) from a buy rating to a hold rating in a research note published on Monday.

A number of other research firms also recently weighed in on FN. Weiss Ratings downgraded Fabrinet from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, June 30th. Needham & Company LLC reiterated a “buy” rating and issued a $800.00 price target on shares of Fabrinet in a research report on Tuesday, May 5th. Fox Advisors cut Fabrinet from a “strong-buy” rating to an “equal weight” rating in a research note on Tuesday, May 5th. Zacks Research cut Fabrinet from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 15th. Finally, Rosenblatt Securities raised their price objective on Fabrinet from $715.00 to $750.00 and gave the stock a “buy” rating 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 company. According to MarketBeat.com, Fabrinet presently has a consensus rating of “Moderate Buy” and an average target price of $661.75.

Fabrinet Price Performance

FN opened at $494.20 on Monday. Fabrinet has a fifty-two week low of $272.49 and a fifty-two week high of $748.89. The firm has a market capitalization of $17.71 billion, a price-to-earnings ratio of 42.46 and a beta of 1.20. The company’s 50 day moving average price is $594.90 and its two-hundred day moving average price is $564.08.

Fabrinet (NYSE:FN) last released its quarterly earnings results 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 firm had revenue of $1.21 billion during 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%. The company’s revenue for the quarter was up 39.3% on a year-over-year basis. During the same quarter last year, the firm earned $2.52 earnings per share. Fabrinet has set its Q4 2026 guidance at 3.720-3.870 EPS. As a group, equities research analysts predict that Fabrinet will post 12.97 EPS for the current year.

Insiders Place Their Bets

In related news, Director Homa Bahrami sold 2,500 shares of the business’s 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 transaction, the director owned 16,233 shares in the company, valued at $11,556,435.03. The trade was a 13.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.24% of the stock is owned by corporate insiders.

Institutional Trading of Fabrinet

Large investors have recently bought and sold shares of the business. Price T Rowe Associates Inc. MD boosted its position in shares of Fabrinet by 163.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 4,041,227 shares of the technology company’s stock valued at $1,839,891,000 after purchasing an additional 2,504,841 shares in the last quarter. Wasatch Advisors LP increased its holdings in Fabrinet by 45.1% in the second quarter. Wasatch Advisors LP now owns 1,779,665 shares of the technology company’s stock worth $524,432,000 after purchasing an additional 553,196 shares in the last quarter. Geode Capital Management LLC increased its holdings in Fabrinet by 4.8% in the fourth quarter. Geode Capital Management LLC now owns 1,108,813 shares of the technology company’s stock worth $504,886,000 after purchasing an additional 50,708 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Fabrinet by 64.8% in the fourth quarter. JPMorgan Chase & Co. now owns 1,065,414 shares of the technology company’s stock valued at $485,063,000 after buying an additional 419,081 shares during the period. Finally, Invesco Ltd. lifted its stake in Fabrinet by 33.3% in the third quarter. Invesco Ltd. now owns 681,850 shares of the technology company’s stock valued at $248,616,000 after buying an additional 170,297 shares during the period. 97.38% of the stock is currently owned by institutional investors and hedge funds.

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.