Fabrinet (NYSE:FN) Shares Gap Down on Analyst Downgrade

Fabrinet (NYSE:FN)’s stock price gapped down prior to trading on Tuesday after JPMorgan Chase & Co. lowered their price target on the stock from $700.00 to $680.00. The stock had previously closed at $717.80, but opened at $642.99. JPMorgan Chase & Co. currently has a neutral rating on the stock. Fabrinet shares last traded at $694.23, with a volume of 518,281 shares.

FN has been the topic of a number of other research reports. 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 note on Tuesday. Northland Securities set a $800.00 price objective on shares of Fabrinet in a report on Monday, April 20th. Zacks Research lowered shares of Fabrinet from a “strong-buy” rating to a “hold” rating in a report on Monday, April 6th. Weiss Ratings lowered shares of Fabrinet from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, April 8th. Finally, B. Riley Financial increased their price objective on shares of Fabrinet from $366.00 to $452.00 and gave the company a “neutral” rating in a report on Tuesday, February 3rd. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Fabrinet has an average rating of “Moderate Buy” and a consensus price target of $661.75.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Balboa Wealth Partners grew its holdings in shares of Fabrinet by 2.5% in the fourth quarter. Balboa Wealth Partners now owns 863 shares of the technology company’s stock valued at $393,000 after purchasing an additional 21 shares in the last quarter. Richardson Financial Services Inc. boosted its stake in Fabrinet by 12.2% during the fourth quarter. Richardson Financial Services Inc. now owns 211 shares of the technology company’s stock worth $96,000 after buying an additional 23 shares during the period. REAP Financial Group LLC boosted its stake in Fabrinet by 15.7% during the fourth quarter. REAP Financial Group LLC now owns 192 shares of the technology company’s stock worth $87,000 after buying an additional 26 shares during the period. Harbour Investments Inc. boosted its stake in Fabrinet by 75.0% during the fourth quarter. Harbour Investments Inc. now owns 63 shares of the technology company’s stock worth $29,000 after buying an additional 27 shares during the period. Finally, Allworth Financial LP boosted its stake in Fabrinet by 7.4% during the fourth quarter. Allworth Financial LP now owns 405 shares of the technology company’s stock worth $184,000 after buying an additional 28 shares during the period. 97.38% of the stock is owned by hedge funds and other institutional investors.

Fabrinet Stock Down 8.0%

The firm’s 50 day simple moving average is $593.72 and its 200 day simple moving average is $510.15. The company has a market capitalization of $22.39 billion, a PE ratio of 53.68 and a beta of 1.22.

Fabrinet (NYSE:FN) last posted its quarterly earnings data on Monday, May 4th. The technology company reported $3.72 EPS for the quarter, topping the consensus estimate of $3.58 by $0.14. The company had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.19 billion. Fabrinet had a net margin of 9.94% and a return on equity of 19.83%. Fabrinet’s quarterly revenue was up 39.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.52 earnings per share. Fabrinet has set its Q4 2026 guidance at 3.720-3.870 EPS. As a group, sell-side analysts predict that Fabrinet will post 12.8 EPS for the current fiscal year.

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.