Fabrinet (NYSE:FN) Shares Gap Down – Here’s What Happened

Fabrinet (NYSE:FN) shares gapped down before the market opened on Tuesday . The stock had previously closed at $598.58, but opened at $513.70. Fabrinet shares last traded at $487.3570, with a volume of 575,735 shares.

Key Fabrinet News

Here are the key news stories impacting Fabrinet this week:

• Positive Sentiment: Fabrinet reported record fourth-quarter revenue of $1.316 billion, up 45% year over year and ahead of the $1.28 billion consensus estimate. Non-GAAP EPS of $4.10 exceeded estimates near $3.81-$3.85 and rose sharply from $2.65 a year earlier. Fabrinet Announces Fourth Quarter and Fiscal Year 2026 Financial Results
• Positive Sentiment: Fiscal 2026 revenue increased 36% to $4.64 billion, while GAAP net income rose to $473.0 million from $332.5 million. Management cited multiple growth drivers and said data-center demand remains exceptionally strong, with data-center revenue reportedly increasing 68%. Fabrinet CEO Sees No End in Sight to Data Center Demand
• Positive Sentiment: First-quarter fiscal 2027 revenue guidance of $1.375 billion to $1.425 billion is above the roughly $1.3 billion analyst consensus, while non-GAAP EPS guidance of $4.10 to $4.25 exceeds the $3.95 consensus. Rosenblatt and Needham reaffirmed Buy ratings with price targets of $750 and $650, respectively. Benzinga analyst coverage

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on FN shares. Needham & Company LLC reissued a “buy” rating and issued a $650.00 target price on shares of Fabrinet in a report on Tuesday. JPMorgan Chase & Co. upped their price target on shares of Fabrinet from $680.00 to $695.00 and gave the company a “neutral” rating in a research note on Tuesday. Zacks Research lowered shares of Fabrinet from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 15th. Fox Advisors cut shares of Fabrinet from a “strong-buy” rating to an “equal weight” rating in a research note on Tuesday, May 5th. Finally, Rosenblatt Securities restated a “buy” rating and issued a $750.00 target price on shares of Fabrinet in a report on Tuesday. Five research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $649.50.

Fabrinet Price Performance

The firm has a market capitalization of $17.15 billion, a PE ratio of 41.31 and a beta of 1.23. The business has a 50-day simple moving average of $526.47 and a 200-day simple moving average of $569.40.

Fabrinet (NYSE:FN) last announced its earnings results on Tuesday, August 18th. The technology company reported $4.10 EPS for the quarter, topping analysts’ consensus estimates of $3.81 by $0.29. The firm had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.28 billion. Fabrinet had a return on equity of 19.83% and a net margin of 9.94%.The company’s quarterly revenue was up 44.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.65 EPS. On average, research analysts expect that Fabrinet will post 12.97 earnings per share 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 Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Price T Rowe Associates Inc. MD lifted its holdings in shares of Fabrinet by 163.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 4,041,227 shares of the technology company’s stock worth $1,839,891,000 after acquiring an additional 2,504,841 shares during the last quarter. Wasatch Advisors LP grew its holdings in Fabrinet by 45.1% during the 2nd 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 last quarter. Geode Capital Management LLC grew its holdings in Fabrinet by 4.8% during the 4th 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 last quarter. JPMorgan Chase & Co. raised its position in Fabrinet by 64.8% in the 4th quarter. JPMorgan Chase & Co. now owns 1,065,414 shares of the technology company’s stock worth $485,063,000 after purchasing an additional 419,081 shares during the period. Finally, Invesco Ltd. raised its position in Fabrinet by 33.3% in the 3rd quarter. Invesco Ltd. now owns 681,850 shares of the technology company’s stock worth $248,616,000 after purchasing an additional 170,297 shares during the period. 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.