Fabrinet (NYSE:FN) Price Target Raised to $695.00

Fabrinet (NYSE:FN) had its price objective raised by JPMorgan Chase & Co. from $680.00 to $695.00 in a research report report published on Tuesday morning,Benzinga reports. The firm currently has a neutral rating on the technology company’s stock.

Several other equities research analysts have also commented on FN. Weiss Ratings lowered shares of Fabrinet from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, August 12th. Needham & Company LLC reissued a “buy” rating and issued a $650.00 price objective on shares of Fabrinet in a research note on Tuesday. Northland Securities set a $800.00 target price on Fabrinet in a report on Monday, April 20th. Barclays increased their target price on Fabrinet from $702.00 to $739.00 and gave the company an “overweight” rating in a research report on Tuesday. Finally, Zacks Research downgraded Fabrinet from a “strong-buy” rating to a “hold” rating in a report on Monday, June 15th. Six analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $649.50.

Fabrinet Trading Down 2.2%

Shares of Fabrinet stock opened at $444.54 on Tuesday. The firm has a market cap of $15.93 billion, a P/E ratio of 34.06 and a beta of 1.23. Fabrinet has a 12 month low of $272.49 and a 12 month high of $748.89. The stock’s fifty day moving average price is $519.11 and its 200-day moving average price is $568.63.

Fabrinet (NYSE:FN) last released its quarterly earnings data on Monday, August 17th. The technology company reported $4.10 earnings per share for the quarter, topping analysts’ consensus estimates of $3.81 by $0.29. Fabrinet had a net margin of 10.19% and a return on equity of 21.23%. The company had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.28 billion. During the same period in the prior year, the firm earned $2.65 earnings per share. The firm’s revenue for the quarter was up 44.6% compared to the same quarter last year. Fabrinet has set its Q1 2027 guidance at 4.100-4.250 EPS. Analysts forecast that Fabrinet will post 16.46 earnings per share for the current year.

Institutional Investors Weigh In On Fabrinet

Several institutional investors have recently bought and sold shares of FN. Swedbank AB acquired a new stake in shares of Fabrinet during the fourth quarter worth $5,372,000. M&T Bank Corp grew its holdings in shares of Fabrinet by 196.5% during the fourth quarter. M&T Bank Corp now owns 2,345 shares of the technology company’s stock valued at $1,068,000 after buying an additional 1,554 shares during the last quarter. JSF Financial LLC acquired a new position in shares of Fabrinet in the 4th quarter valued at $957,000. California State Teachers Retirement System increased its position in shares of Fabrinet by 23.0% in the 1st quarter. California State Teachers Retirement System now owns 41,747 shares of the technology company’s stock valued at $21,772,000 after acquiring an additional 7,819 shares during the period. Finally, Sei Investments Co. raised its stake in Fabrinet by 22.0% in the 1st quarter. Sei Investments Co. now owns 89,843 shares of the technology company’s stock worth $46,854,000 after acquiring an additional 16,218 shares during the last quarter. 97.38% of the stock is currently owned by institutional investors and hedge funds.

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.