Fabrinet (NYSE:FN) Cut to Hold at Wall Street Zen

Wall Street Zen downgraded shares of Fabrinet (NYSE:FN) from a buy rating to a hold rating in a report issued on Monday.

FN has been the topic of a number of other research reports. Needham & Company LLC reaffirmed a “buy” rating and set a $800.00 price target on shares of Fabrinet in a research note on Tuesday, May 5th. Rosenblatt Securities lifted their price objective on shares of Fabrinet from $715.00 to $750.00 and gave the stock a “buy” rating in a research note on Tuesday, May 5th. JPMorgan Chase & Co. reduced their target price 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. Zacks Research cut shares of Fabrinet from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 15th. Finally, Barclays increased their price target on shares of Fabrinet from $548.00 to $702.00 and gave the company an “overweight” rating in a report on Tuesday, May 5th. Six investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $643.00.

Fabrinet Price Performance

NYSE:FN opened at $514.66 on Monday. Fabrinet has a 1 year low of $272.49 and a 1 year high of $748.89. The stock’s 50 day simple moving average is $589.10 and its two-hundred day simple moving average is $565.01. The company has a market cap of $18.44 billion, a price-to-earnings ratio of 44.21 and a beta of 1.20.

Fabrinet (NYSE:FN) last issued its quarterly earnings data 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. The business had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.19 billion. Fabrinet had a return on equity of 19.83% and a net margin of 9.94%.During the same period in the prior year, the firm earned $2.52 EPS. The company’s revenue for the quarter 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, analysts anticipate that Fabrinet will post 12.97 EPS for the current year.

Insider Transactions at Fabrinet

In other Fabrinet news, Director Homa Bahrami sold 2,500 shares of Fabrinet stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $711.91, for a total transaction of $1,779,775.00. Following the completion of the transaction, the director directly owned 16,233 shares of the company’s stock, 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 through this hyperlink. 0.24% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Fabrinet

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