Fabrinet (NYSE:FN) Given New $470.00 Price Target at JPMorgan Chase & Co.

Fabrinet (NYSE:FN) had its price objective upped by analysts at JPMorgan Chase & Co. from $465.00 to $470.00 in a report issued on Tuesday, Benzinga reports. The firm currently has a “neutral” rating on the technology company’s stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 29.07% from the stock’s previous close.

A number of other research analysts have also issued reports on FN. Susquehanna dropped their target price on Fabrinet from $850.00 to $600.00 and set a “positive” rating on the stock in a report on Wednesday, October 21st. Zacks Research upgraded Fabrinet from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 5th. Rosenblatt Securities lowered their price objective on shares of Fabrinet from $750.00 to $600.00 and set a “buy” rating on the stock in a research note on Tuesday. Needham & Company LLC restated a “buy” rating and set a $500.00 target price on shares of Fabrinet in a report on Tuesday. Finally, B. Riley Financial dropped their target price on shares of Fabrinet from $431.00 to $385.00 and set a “neutral” rating for the company in a report on Friday. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $579.25.

Fabrinet Price Performance

Shares of Fabrinet stock traded up $49.45 during trading hours on Tuesday, hitting $364.15. The company had a trading volume of 1,177,340 shares, compared to its average volume of 863,686. The company’s 50-day moving average is $402.07 and its two-hundred day moving average is $521.45. The company has a market cap of $13.05 billion, a P/E ratio of 27.72 and a beta of 1.35. Fabrinet has a twelve month low of $305.63 and a twelve month high of $748.89.

Fabrinet (NYSE:FN) last released its quarterly earnings data on Monday, November 2nd. The technology company reported $4.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.20 by $0.14. The company had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.41 billion. Fabrinet had a net margin of 10.19% and a return on equity of 21.23%. Fabrinet’s revenue for the quarter was up 50.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.92 earnings per share. Sell-side analysts expect that Fabrinet will post 17.50 EPS for the current year.

Insider Buying and Selling at Fabrinet

In other news, EVP Edward Archer sold 2,500 shares of the business’s stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $385.91, for a total transaction of $964,775.00. Following the completion of the sale, the executive vice president directly owned 7,007 shares of the company’s stock, valued at $2,704,071.37. The trade was a 26.30% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.22% of the stock is currently owned by company insiders.

Institutional Trading of Fabrinet

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Continuum Advisory LLC purchased a new position in Fabrinet in the 2nd quarter valued at about $25,000. Byrne Asset Management LLC acquired a new stake in Fabrinet in the third quarter valued at $27,000. Cassaday & Co Wealth Management LLC acquired a new stake in Fabrinet in the first quarter valued at $31,000. Root Financial Partners LLC bought a new position in Fabrinet during the 3rd quarter valued at $40,000. Finally, Heritage Family Offices LLP bought a new position in Fabrinet during the 3rd quarter valued at $51,000. Institutional investors and hedge funds own 97.38% of the company’s stock.

Key Headlines Impacting Fabrinet

Here are the key news stories impacting Fabrinet this week:

• Positive Sentiment: Strong Q1 results: Fabrinet reported record fiscal first-quarter revenue that exceeded its own guidance range, with EPS growth to $4.34 from $2.92 a year earlier. Fabrinet Announces First Quarter Fiscal Year 2027 Financial Results
• Positive Sentiment: Above-consensus outlook: Fabrinet guided fiscal second-quarter revenue to $1.6 billion-$1.7 billion and EPS to $4.77-$4.92, both ahead of analyst expectations of approximately $1.5 billion and $4.39, respectively. Fabrinet Q1 Earnings Call Highlights Capacity Expansion and AI Demand
• Positive Sentiment: AI and data-center demand: Management cited surging demand from data-center customers, new optical programs, and capacity investments. Fabrinet is starting construction of Building 11, which is expected to provide approximately $3 billion of additional capacity over time. Fabrinet anticipates Q2 revenue and Building 11 capacity
• Positive Sentiment: Analyst support: Needham reaffirmed its Buy rating with a $500 price target, indicating substantial potential upside based on the cited share price. Needham analyst recommendations
• Neutral Sentiment: Mixed target-price signals: Rosenblatt maintained a Buy rating but reduced its target from $750 to $600, suggesting continued confidence in Fabrinet’s outlook while reflecting a more cautious valuation view.
• Negative Sentiment: Cash and tax considerations: Commentary noted that rapid 51% sales growth is consuming cash, while a new global minimum tax limited GAAP earnings growth relative to revenue growth. Fabrinet’s 51% Growth Comes at a Cash Cost

About Fabrinet

Fabrinet (NYSE: FN) is a provider of outsourced manufacturing services for complex optical, electronic and electromechanical products. The company works with original equipment manufacturers and other technology companies to design, manufacture, assemble, test and distribute products used in optical communications, industrial lasers, automotive applications, medical devices and other advanced technology markets.

Its capabilities include precision optical packaging, optical and electronic assembly, printed circuit board assembly, electromechanical manufacturing, engineering support, supply-chain management and testing.