Fabrinet (NYSE:FN) Trading Down 3.8% – Here’s Why

Fabrinet (NYSE:FN) shares traded down 3.8% on Friday . The company traded as low as $427.37 and last traded at $427.86. 270,416 shares were traded during mid-day trading, a decline of 68% from the average daily volume of 847,856 shares. The stock had previously closed at $444.87.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Zacks Research lowered shares of Fabrinet from a “strong-buy” rating to a “hold” rating in a report on Monday, June 15th. Wall Street Zen downgraded shares of Fabrinet from a “buy” rating to a “hold” rating in a research note on Monday, July 20th. Needham & Company LLC restated a “buy” rating and issued a $650.00 target price on shares of Fabrinet in a research report on Tuesday, August 18th. Weiss Ratings cut shares of Fabrinet from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, August 12th. Finally, Barclays upped their price target on shares of Fabrinet from $702.00 to $739.00 and gave the stock an “overweight” rating in a report on Tuesday. Six equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Fabrinet currently has an average rating of “Moderate Buy” and an average price target of $649.50.

Fabrinet Price Performance

The stock has a 50-day moving average price of $515.66 and a 200-day moving average price of $567.70. The company has a market capitalization of $15.63 billion, a P/E ratio of 33.42 and a beta of 1.23.

Fabrinet (NYSE:FN) last announced its earnings results on Monday, August 17th. The technology company reported $4.10 EPS for the quarter, beating the consensus estimate of $3.81 by $0.29. The business had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $1.28 billion. Fabrinet had a return on equity of 21.23% and a net margin of 10.19%.The firm’s revenue was up 44.6% on a year-over-year basis. During the same period in the prior year, the business posted $2.65 earnings per share. Fabrinet has set its Q1 2027 guidance at 4.100-4.250 EPS. Sell-side analysts anticipate that Fabrinet will post 16.46 EPS for the current fiscal year.

Institutional Investors Weigh In On Fabrinet

A number of institutional investors have recently modified their holdings of FN. Swedbank AB acquired a new position in shares of Fabrinet in the 4th quarter valued at about $5,372,000. Great Lakes Advisors LLC acquired a new stake in Fabrinet during the second quarter worth approximately $3,024,000. M&T Bank Corp increased its holdings in Fabrinet by 196.5% in the fourth quarter. M&T Bank Corp now owns 2,345 shares of the technology company’s stock worth $1,068,000 after purchasing an additional 1,554 shares in the last quarter. JSF Financial LLC bought a new stake in Fabrinet in the fourth quarter worth approximately $957,000. Finally, California State Teachers Retirement System lifted its stake in Fabrinet by 23.0% in the first quarter. California State Teachers Retirement System now owns 41,747 shares of the technology company’s stock valued at $21,772,000 after buying an additional 7,819 shares during the period. 97.38% of the stock is owned by 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.