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

Zacks Research cut shares of Fabrinet (NYSE:FN) from a strong-buy rating to a hold rating in a research note issued to investors on Monday morning,Zacks.com reports.

Other equities research analysts have also recently issued reports about the stock. Rosenblatt Securities raised 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, May 5th. JPMorgan Chase & Co. cut their price target 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. Northland Securities set a $800.00 price target on shares of Fabrinet in a report on Monday, April 20th. Needham & Company LLC restated a “buy” rating and issued a $800.00 price target on shares of Fabrinet in a report on Tuesday, May 5th. Finally, Fox Advisors lowered shares of Fabrinet from a “strong-buy” rating to an “equal weight” rating in a report on Tuesday, May 5th. Six equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $661.75.

Fabrinet Stock Performance

FN opened at $587.73 on Monday. The company’s 50 day simple moving average is $660.68 and its 200 day simple moving average is $555.75. Fabrinet has a 1 year low of $255.95 and a 1 year high of $748.89. The stock has a market capitalization of $21.06 billion, a PE ratio of 50.49 and a beta of 1.17.

Fabrinet (NYSE:FN) last released its earnings results on Monday, May 4th. The technology company reported $3.72 earnings per share (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 for the quarter, compared to analysts’ expectations of $1.19 billion. During the same period last year, the company earned $2.52 earnings per share. 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. As a group, sell-side analysts expect that Fabrinet will post 12.96 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Homa Bahrami sold 2,500 shares of the firm’s stock in a transaction that occurred 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 approximately $11,556,435.03. This trade represents a 13.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.24% of the company’s stock.

Institutional Trading of Fabrinet

A number of hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of Fabrinet by 1.4% during the third quarter. Vanguard Group Inc. now owns 4,135,345 shares of the technology company’s stock valued at $1,507,829,000 after purchasing an additional 59,002 shares during the period. Price T Rowe Associates Inc. MD raised its stake in shares of Fabrinet by 163.0% during the fourth 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 during the period. Wasatch Advisors LP raised its stake in shares of Fabrinet by 45.1% during the second quarter. Wasatch Advisors LP now owns 1,779,665 shares of the technology company’s stock valued at $524,432,000 after purchasing an additional 553,196 shares during the period. Geode Capital Management LLC raised its stake in shares of Fabrinet by 4.8% during the fourth quarter. Geode Capital Management LLC now owns 1,108,813 shares of the technology company’s stock valued at $504,886,000 after purchasing an additional 50,708 shares during the period. Finally, JPMorgan Chase & Co. raised its stake in shares of Fabrinet by 64.8% during the fourth quarter. JPMorgan Chase & Co. now owns 1,065,414 shares of the technology company’s stock valued at $485,063,000 after purchasing an additional 419,081 shares during the period. Hedge funds and other 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.