Fabrinet (NYSE:FN) Trading Down 6.2% – Here’s What Happened

Fabrinet (NYSE:FN) fell 6.2% during mid-day trading on Thursday . The company traded as low as $572.15 and last traded at $574.3360. 100,975 shares traded hands during mid-day trading, a decline of 86% from the average session volume of 715,857 shares. The stock had previously closed at $612.03.

Analysts Set New Price Targets

FN has been the topic of a number of research analyst reports. Needham & Company LLC reissued a “buy” rating and set a $540.00 price objective on shares of Fabrinet in a report on Tuesday, February 3rd. Barclays raised their target price on Fabrinet from $537.00 to $548.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 3rd. Rosenblatt Securities reissued a “buy” rating and issued a $550.00 price objective on shares of Fabrinet in a report on Tuesday, February 3rd. Susquehanna raised their price objective on Fabrinet from $550.00 to $570.00 and gave the stock a “positive” rating in a research note on Thursday, January 22nd. Finally, Zacks Research raised Fabrinet from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 5th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, Fabrinet presently has an average rating of “Buy” and a consensus target price of $541.25.

Fabrinet Trading Up 0.6%

The firm has a market cap of $19.82 billion, a PE ratio of 52.98 and a beta of 1.01. The company has a 50-day simple moving average of $515.66 and a 200 day simple moving average of $458.94.

Fabrinet (NYSE:FN) last posted its earnings results on Monday, February 2nd. The technology company reported $3.36 earnings per share for the quarter, beating the consensus estimate of $3.26 by $0.10. Fabrinet had a net margin of 9.69% and a return on equity of 18.69%. The firm had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.08 billion. During the same period in the previous year, the firm earned $2.61 EPS. The business’s quarterly revenue was up 35.9% on a year-over-year basis. Fabrinet has set its Q3 2026 guidance at 3.450-3.600 EPS. On average, equities analysts expect that Fabrinet will post 9.4 earnings per share for the current year.

Institutional Investors Weigh In On Fabrinet

Several hedge funds have recently modified their holdings of FN. Divisadero Street Capital Management LP grew its holdings in Fabrinet by 57.4% in the third quarter. Divisadero Street Capital Management LP now owns 56,344 shares of the technology company’s stock valued at $20,544,000 after purchasing an additional 20,556 shares during the period. Azzad Asset Management Inc. ADV acquired a new position in shares of Fabrinet during the 3rd quarter worth approximately $1,037,000. Federated Hermes Inc. lifted its position in shares of Fabrinet by 105.2% during the 3rd quarter. Federated Hermes Inc. now owns 5,982 shares of the technology company’s stock valued at $2,181,000 after buying an additional 3,067 shares in the last quarter. Argent Capital Management LLC purchased a new position in shares of Fabrinet during the 3rd quarter valued at approximately $4,931,000. Finally, Torray Investment Partners LLC acquired a new stake in Fabrinet in the 3rd quarter valued at $2,458,000. 97.38% of the stock is owned by hedge funds and other institutional investors.

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.