Fabrinet (NYSE:FN) Stock Rating Lowered by Zacks Research

Key Points

• Zacks Research downgraded Fabrinet from a "strong-buy" to a "hold" rating, following a series of other mixed ratings from various research firms regarding the stock.
• Fabrinet reported a quarterly earnings of $2.65 per share, surpassing analysts' expectations, while its revenue increased by 20.8% year-over-year.
• Shares of Fabrinet opened at $330.93, showing significant movement in its market position over the past year, with a high of $360.00 and a low of $148.55.

Zacks Research lowered shares of Fabrinet (NYSE:FN - Free Report) from a strong-buy rating to a hold rating in a research note issued to investors on Thursday,Zacks.com reports.

Several other equities analysts also recently commented on the stock. Barclays upped their price target on shares of Fabrinet from $234.00 to $329.00 and gave the company an "equal weight" rating in a research note on Tuesday, August 19th. Rosenblatt Securities reaffirmed a "buy" rating and set a $360.00 price objective on shares of Fabrinet in a research report on Tuesday, August 19th. JPMorgan Chase & Co. upgraded shares of Fabrinet from a "neutral" rating to an "overweight" rating and raised their price objective for the company from $318.00 to $345.00 in a report on Monday, August 25th. Needham & Company LLC reiterated a "buy" rating and issued a $350.00 price objective on shares of Fabrinet in a report on Tuesday, August 19th. Finally, B. Riley increased their target price on shares of Fabrinet from $184.00 to $220.00 and gave the company a "neutral" rating in a research report on Tuesday, August 19th. Four equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, Fabrinet presently has an average rating of "Moderate Buy" and a consensus price target of $312.33.

Fabrinet Stock Performance

FN traded up $1.82 during trading on Thursday, reaching $337.52. 498,055 shares of the stock were exchanged, compared to its average volume of 735,239. Fabrinet has a twelve month low of $148.55 and a twelve month high of $360.00. The stock has a market cap of $12.06 billion, a P/E ratio of 36.77 and a beta of 1.08. The stock's 50 day moving average price is $310.99 and its two-hundred day moving average price is $248.57.

Fabrinet (NYSE:FN - Get Free Report) last released its quarterly earnings data on Monday, August 18th. The technology company reported $2.65 EPS for the quarter, beating the consensus estimate of $2.63 by $0.02. Fabrinet had a net margin of 9.72% and a return on equity of 17.77%. The firm had revenue of $909.69 million for the quarter, compared to the consensus estimate of $880.19 million. During the same period in the previous year, the company earned $2.41 earnings per share. The company's quarterly revenue was up 20.8% on a year-over-year basis. Fabrinet has set its Q1 2026 guidance at 2.750-2.900 EPS. Equities research analysts predict that Fabrinet will post 9.4 earnings per share for the current fiscal year.

Insider Activity at Fabrinet

In related news, CEO Seamus Grady sold 9,513 shares of Fabrinet stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $329.52, for a total value of $3,134,723.76. Following the completion of the sale, the chief executive officer owned 46,024 shares of the company's stock, valued at approximately $15,165,828.48. This trade represents a 17.13% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.38% of the stock is owned by insiders.

Institutional Investors Weigh In On Fabrinet

Several large investors have recently added to or reduced their stakes in the company. B. Riley Wealth Advisors Inc. purchased a new stake in Fabrinet in the 2nd quarter worth about $317,000. Cim LLC lifted its position in Fabrinet by 3.1% in the 2nd quarter. Cim LLC now owns 6,200 shares of the technology company's stock worth $1,827,000 after buying an additional 189 shares during the last quarter. State of Wyoming lifted its position in Fabrinet by 28.9% in the 2nd quarter. State of Wyoming now owns 1,665 shares of the technology company's stock worth $491,000 after buying an additional 373 shares during the last quarter. Castleark Management LLC lifted its position in Fabrinet by 55.0% in the 2nd quarter. Castleark Management LLC now owns 31,920 shares of the technology company's stock worth $9,406,000 after buying an additional 11,330 shares during the last quarter. Finally, Rexford Capital Inc. bought a new stake in Fabrinet in the 2nd quarter worth approximately $269,000. Hedge funds and other institutional investors own 97.38% of the company's stock.

Fabrinet Company Profile

Fabrinet provides optical packaging and precision optical, electro-mechanical, and electronic manufacturing services in North America, the Asia-Pacific, and Europe. The company offers a range of advanced optical and electro-mechanical capabilities in the manufacturing process, including process design and engineering, supply chain management, manufacturing, printed circuit board assembly, advanced packaging, integration, final assembly, and testing.