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

Shares of Fabrinet (NYSE:FN) 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 changing hands.

A number of other brokerages have also recently issued reports on FN. B. Riley Financial increased their target price on shares of Fabrinet from $366.00 to $452.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 3rd. Zacks Research lowered shares of Fabrinet from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 6th. Northland Securities set a $800.00 price objective on shares of Fabrinet in a research note on Monday, April 20th. Fox Advisors cut shares of Fabrinet from a “strong-buy” rating to an “equal weight” rating in a research note on Tuesday. Finally, Susquehanna boosted their target price on Fabrinet from $550.00 to $570.00 and gave the stock a “positive” rating in a report on Thursday, January 22nd. One 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.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $661.75.

Hedge Funds Weigh In On Fabrinet

Several hedge funds have recently modified their holdings of FN. Core Wealth Advisors LLC acquired a new position in shares of Fabrinet during the 4th quarter worth approximately $25,000. Westend Capital Management LLC bought a new position in Fabrinet during the fourth quarter worth $29,000. Harbour Investments Inc. increased its holdings in shares of Fabrinet by 75.0% in the fourth quarter. Harbour Investments Inc. now owns 63 shares of the technology company’s stock valued at $29,000 after purchasing an additional 27 shares during the last quarter. Creative Financial Designs Inc. ADV acquired a new position in shares of Fabrinet in the fourth quarter valued at $32,000. Finally, Quarry LP raised its position in shares of Fabrinet by 300.0% in the fourth quarter. Quarry LP now owns 72 shares of the technology company’s stock valued at $33,000 after purchasing an additional 54 shares during the period. Institutional investors own 97.38% of the company’s stock.

Fabrinet Trading Down 8.0%

The business’s 50 day moving average price is $593.72 and its 200-day moving average price is $510.15. The company has a market cap of $22.39 billion, a price-to-earnings ratio of 53.68 and a beta of 1.22.

Fabrinet (NYSE:FN) last announced its quarterly earnings results on Monday, May 4th. The technology company reported $3.72 EPS for the quarter, beating analysts’ consensus estimates of $3.58 by $0.14. The business had revenue of $1.21 billion for 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% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.52 EPS. Fabrinet has set its Q4 2026 guidance at 3.720-3.870 EPS. Equities research analysts forecast that Fabrinet will post 12.8 EPS for the current fiscal year.

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.