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

Fabrinet (NYSE:FN) shares 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 changing hands.

FN has been the topic of a number of other reports. Northland Securities set a $600.00 price objective on Fabrinet in a research report on Monday, December 22nd. B. Riley Financial raised their target price on Fabrinet from $366.00 to $452.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 3rd. Rosenblatt Securities reissued a “buy” rating and issued a $550.00 price target on shares of Fabrinet in a report on Tuesday, February 3rd. Weiss Ratings downgraded shares of Fabrinet from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, April 8th. Finally, Wolfe Research upgraded shares of Fabrinet from a “peer perform” rating to an “outperform” rating and set a $540.00 target price on the stock in a research report on Wednesday, February 4th. Five equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $562.50.

Institutional Investors Weigh In On Fabrinet

Several institutional investors and hedge funds have recently made changes to their positions in the company. Core Wealth Advisors LLC bought a new position in Fabrinet during the 4th quarter valued at about $25,000. Westend Capital Management LLC bought a new stake in Fabrinet during the fourth quarter worth about $29,000. Harbour Investments Inc. increased its holdings 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 buying an additional 27 shares in the last quarter. Creative Financial Designs Inc. ADV bought a new position in shares of Fabrinet in the fourth quarter valued at approximately $32,000. Finally, Quarry LP raised its stake in shares of Fabrinet by 300.0% in the fourth quarter. Quarry LP now owns 72 shares of the technology company’s stock valued at $33,000 after acquiring an additional 54 shares during the last quarter. Institutional investors and hedge funds own 97.38% of the company’s stock.

Fabrinet Trading Down 4.4%

The firm has a market capitalization of $23.49 billion, a price-to-earnings ratio of 62.95 and a beta of 1.04. The firm has a fifty day moving average price of $545.62 and a 200 day moving average price of $480.13.

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