Fabrinet (NYSE:FN) Trading 5.1% Higher – Here’s Why

Fabrinet (NYSE:FN)’s stock price traded up 5.1% during mid-day trading on Monday . The company traded as high as $504.99 and last traded at $502.6280. Approximately 192,951 shares traded hands during mid-day trading, a decline of 77% from the average session volume of 829,936 shares. The stock had previously closed at $478.39.

Analyst Ratings Changes

FN has been the subject of a number of research analyst reports. Zacks Research downgraded shares of Fabrinet from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 15th. Northland Securities set a $800.00 target price on shares of Fabrinet in a research report on Monday, April 20th. JPMorgan Chase & Co. lowered their target price on shares of Fabrinet from $700.00 to $680.00 and set a “neutral” rating for the company in a report on Tuesday, May 5th. Wall Street Zen lowered shares of Fabrinet from a “buy” rating to a “hold” rating in a research report on Monday. Finally, Weiss Ratings downgraded shares of Fabrinet from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, June 30th. Six research 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, Fabrinet presently has a consensus rating of “Moderate Buy” and a consensus price target of $661.75.

Fabrinet Trading Up 4.1%

The firm has a market capitalization of $17.84 billion, a price-to-earnings ratio of 42.83 and a beta of 1.20. The firm has a 50 day moving average price of $598.02 and a two-hundred day moving average price of $563.85.

Fabrinet (NYSE:FN) last posted its earnings results on Monday, May 4th. The technology company reported $3.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.58 by $0.14. Fabrinet had a net margin of 9.94% and a return on equity of 19.83%. The firm had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter in the prior year, the company earned $2.52 EPS. The company’s revenue was up 39.3% on a year-over-year basis. Fabrinet has set its Q4 2026 guidance at 3.720-3.870 EPS. As a group, research analysts forecast that Fabrinet will post 12.97 earnings per share for the current year.

Insider Activity

In other news, Director Homa Bahrami sold 2,500 shares of the stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $711.91, for a total value of $1,779,775.00. Following the completion of the sale, the director owned 16,233 shares of the company’s stock, valued at $11,556,435.03. This represents a 13.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.24% of the stock is owned by insiders.

Hedge Funds Weigh In On Fabrinet

Several hedge funds and other institutional investors have recently made changes to their positions in FN. Core Wealth Advisors LLC purchased a new stake in Fabrinet during the 4th quarter worth $25,000. Cassaday & Co Wealth Management LLC purchased a new position in Fabrinet in the first quarter valued at about $31,000. Westend Capital Management LLC acquired a new position in shares of Fabrinet during the fourth quarter worth about $29,000. Harbour Investments Inc. lifted its stake in shares of Fabrinet by 75.0% during the fourth quarter. Harbour Investments Inc. now owns 63 shares of the technology company’s stock worth $29,000 after purchasing an additional 27 shares in the last quarter. Finally, Creative Financial Designs Inc. ADV purchased a new stake in shares of Fabrinet in the fourth quarter worth about $32,000. Institutional investors and hedge funds own 97.38% of the company’s stock.

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.