Fabrinet (NYSE:FN) Stock Price Target Cut by Rosenblatt Securities

Key Points

• Rosenblatt Securities lowered Fabrinet’s price target from $750 to $600 while maintaining a “buy” rating, implying 91.17% upside from the prior close.
• Analyst sentiment remains positive overall, with a consensus “Moderate Buy” rating and an average target price of $607.38, despite several recent target reductions.
• Fabrinet reported strong quarterly results, including $1.47 billion in revenue and $4.34 in earnings per share, both above expectations; however, shares opened near a 52-week low of $313.86 amid valuation and expansion-cost concerns.

Fabrinet (NYSE:FN - Get Free Report) had its price target cut by equities research analysts at Rosenblatt Securities from $750.00 to $600.00 in a report issued on Tuesday, Benzinga reports. The brokerage presently has a "buy" rating on the technology company's stock. Rosenblatt Securities's price objective indicates a potential upside of 91.17% from the company's previous close.

A number of other equities research analysts also recently issued reports on the company. Weiss Ratings downgraded Fabrinet from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Wednesday, September 9th. Fox Advisors raised Fabrinet from an "equal weight" rating to an "overweight" rating in a research note on Wednesday, August 19th. Needham & Company LLC cut their target price on shares of Fabrinet from $650.00 to $500.00 and set a "buy" rating on the stock in a research report on Tuesday, October 27th. Barclays increased their price target on Fabrinet from $702.00 to $739.00 and gave the stock an "overweight" rating in a research report on Tuesday, August 18th. Finally, B. Riley Financial dropped their target price on Fabrinet from $431.00 to $385.00 and set a "neutral" rating for the company in a report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $607.38.

Fabrinet Price Performance

Shares of Fabrinet stock opened at $313.86 on Tuesday. The firm has a market capitalization of $11.25 billion, a P/E ratio of 24.05 and a beta of 1.23. Fabrinet has a fifty-two week low of $305.63 and a fifty-two week high of $748.89. The company's 50 day moving average price is $402.07 and its two-hundred day moving average price is $521.45.

Fabrinet (NYSE:FN - Get Free Report) last announced its earnings results on Monday, November 2nd. The technology company reported $4.34 earnings per share for the quarter, topping analysts' consensus estimates of $4.20 by $0.14. The business had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.41 billion. Fabrinet had a net margin of 10.19% and a return on equity of 21.23%. Fabrinet's quarterly revenue was up 50.7% on a year-over-year basis. During the same quarter last year, the firm earned $2.92 earnings per share. On average, analysts expect that Fabrinet will post 17.50 earnings per share for the current year.

Insider Transactions at Fabrinet

In other news, EVP Edward Archer sold 2,500 shares of the stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $385.91, for a total value of $964,775.00. Following the sale, the executive vice president directly owned 7,007 shares in the company, valued at $2,704,071.37. This represents a 26.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.22% of the company's stock.

Institutional Trading of Fabrinet

A number of institutional investors have recently modified their holdings of FN. Continuum Advisory LLC purchased a new stake in shares of Fabrinet during the second quarter valued at approximately $25,000. Byrne Asset Management LLC acquired a new stake in Fabrinet during the 3rd quarter worth about $27,000. Cassaday & Co Wealth Management LLC purchased a new position in Fabrinet during the 1st quarter valued at about $31,000. Root Financial Partners LLC bought a new position in Fabrinet during the third quarter valued at approximately $40,000. Finally, Heritage Family Offices LLP acquired a new stake in Fabrinet in the third quarter valued at approximately $51,000. Hedge funds and other institutional investors own 97.38% of the company's stock.

Trending Headlines about Fabrinet

Here are the key news stories impacting Fabrinet this week:

• Positive Sentiment: Fabrinet reported record fiscal Q1 revenue of $1.47 billion, up 50.7% year over year and above both its guidance range and analysts’ expectations of approximately $1.41 billion. Fabrinet Announces First Quarter Fiscal Year 2027 Financial Results
• Positive Sentiment: Adjusted earnings came in at $4.34 per share, exceeding consensus estimates near $4.19-$4.20 and rising from $2.92 a year earlier. The revenue and earnings “double beat” supported the initial upward reaction in the shares. Fabrinet Stock Jumps on Q1 Earnings Double Beat, Strong Guidance
• Positive Sentiment: Management forecast fiscal Q2 revenue of $1.60 billion to $1.65 billion, implying continued strong demand, while beginning construction of Building 11, which is expected to add roughly $3 billion of capacity. Fabrinet anticipates Q2 revenue of $1.6B-$1.65B while starting Building 11
• Neutral Sentiment: The rapid growth is being driven by Fabrinet’s optical manufacturing business, particularly demand tied to advanced optical products and data-center infrastructure.
• Negative Sentiment: Investors are also monitoring the cost of expansion and a new global minimum tax, which limited GAAP earnings growth relative to the 51% revenue increase and may pressure cash flow and margins. Fabrinet's 51% Growth Comes at a Cash Cost
• Negative Sentiment: The stock recently touched a new 52-week low near $314, highlighting elevated volatility and continued sensitivity to valuation, execution and broader technology-sector sentiment. Fabrinet Drops to $314, a New 52-Week Low

Fabrinet Company Profile

Fabrinet NYSE: FN is a provider of outsourced manufacturing services for complex optical, electronic and electromechanical products. The company works with original equipment manufacturers and other technology companies to design, manufacture, assemble, test and distribute products used in optical communications, industrial lasers, automotive applications, medical devices and other advanced technology markets.

Its capabilities include precision optical packaging, optical and electronic assembly, printed circuit board assembly, electromechanical manufacturing, engineering support, supply-chain management and testing.

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