Fabrinet (NYSE:FN) Rating Lowered to Hold at Zacks Research

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

A number of other brokerages have also issued reports on FN. Rosenblatt Securities lifted 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. Northland Securities set a $800.00 price target on shares of Fabrinet in a research note on Monday, April 20th. Weiss Ratings upgraded Fabrinet from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday. JPMorgan Chase & Co. lowered their target price on Fabrinet from $700.00 to $680.00 and set a “neutral” rating on the stock in a research note 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 report on Tuesday, May 5th. Six analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $661.75.

Fabrinet Price Performance

Shares of FN opened at $587.73 on Monday. The company 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 fifty-two week low of $255.95 and a fifty-two week high of $748.89. The business’s 50-day moving average is $660.68 and its 200-day moving average is $555.75.

Fabrinet (NYSE:FN) last posted its quarterly earnings results on Monday, May 4th. The technology company reported $3.72 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $1.19 billion. During the same period last year, the company posted $2.52 earnings per share. The firm’s quarterly 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. Equities research analysts expect that Fabrinet will post 12.96 earnings per share for the current fiscal year.

Insider Buying and Selling at Fabrinet

In related 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 transaction of $1,779,775.00. Following the completion of the sale, the director owned 16,233 shares in the company, valued at $11,556,435.03. This represents a 13.35% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.24% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Ashton Thomas Private Wealth LLC bought a new stake in shares of Fabrinet in the first quarter valued at approximately $203,000. Empowered Funds LLC bought a new position in Fabrinet during the first quarter worth $2,331,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Fabrinet by 4.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 79,444 shares of the technology company’s stock worth $15,691,000 after acquiring an additional 3,717 shares during the period. M&T Bank Corp acquired a new position in Fabrinet during the 2nd quarter valued at $214,000. Finally, EverSource Wealth Advisors LLC raised its stake in Fabrinet by 574.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 533 shares of the technology company’s stock valued at $157,000 after purchasing an additional 454 shares during the last quarter. 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.