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

Shares of Fabrinet (NYSE:FN) gapped down before the market opened on Thursday after JPMorgan Chase & Co. downgraded the stock from an overweight rating to a neutral rating. The stock had previously closed at $685.81, but opened at $664.00. JPMorgan Chase & Co. now has a $700.00 price target on the stock. Fabrinet shares last traded at $659.6840, with a volume of 226,114 shares.

Other research analysts also recently issued research reports about the company. Northland Securities set a $600.00 price objective on Fabrinet in a report on Monday, December 22nd. Barclays upped their price target on Fabrinet from $537.00 to $548.00 and gave the company an “overweight” rating in a research note on Tuesday, February 3rd. Needham & Company LLC reiterated a “buy” rating and issued a $540.00 price target on shares of Fabrinet in a report on Tuesday, February 3rd. Rosenblatt Securities reiterated a “buy” rating and issued a $550.00 price objective on shares of Fabrinet in a research report on Tuesday, February 3rd. Finally, B. Riley Financial boosted their price objective on Fabrinet from $366.00 to $452.00 and gave the stock a “neutral” rating in a report on Tuesday, February 3rd. Five investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $562.50.

Institutional Investors Weigh In On Fabrinet

Institutional investors have recently made changes to their positions in the stock. Nations Financial Group Inc. IA ADV increased its stake in shares of Fabrinet by 3.6% in the 1st quarter. Nations Financial Group Inc. IA ADV now owns 3,650 shares of the technology company’s stock valued at $1,904,000 after acquiring an additional 126 shares during the last quarter. Hsbc Holdings PLC acquired a new position in Fabrinet during the fourth quarter valued at approximately $229,000. Rockefeller Capital Management L.P. increased its stake in Fabrinet by 147.4% in the fourth quarter. Rockefeller Capital Management L.P. now owns 376 shares of the technology company’s stock valued at $171,000 after purchasing an additional 224 shares in the last quarter. World Investment Advisors raised its holdings in Fabrinet by 10.4% in the fourth quarter. World Investment Advisors now owns 1,604 shares of the technology company’s stock worth $730,000 after purchasing an additional 151 shares during the period. Finally, Corient Private Wealth LLC raised its holdings in Fabrinet by 4.3% in the fourth quarter. Corient Private Wealth LLC now owns 1,947 shares of the technology company’s stock worth $886,000 after purchasing an additional 80 shares during the period. 97.38% of the stock is owned by institutional investors and hedge funds.

Fabrinet Price Performance

The company has a market capitalization of $23.49 billion, a P/E ratio of 62.95 and a beta of 1.04. The business’s 50-day moving average price is $545.62 and its two-hundred day moving average price is $480.13.

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