Fabrinet (NYSE:FN) Reaches New 52-Week High - Here's What Happened

Key Points

• Fabrinet's share price reached a new 52-week high of $380.01 during trading, closing at $371.95, with a trading volume of 742,211 shares.
• Analysts have a positive outlook on Fabrinet, with several upgrades and price target increases, leading to an average rating of "Moderate Buy" and a price target of $312.33.
• Insider selling activity has been reported, including significant sales by CEO Seamus Grady and COO Harpal Gill, indicating a 17.13% and 50.39% decrease in their stock positions, respectively.

Shares of Fabrinet (NYSE:FN - Get Free Report) hit a new 52-week high during trading on Thursday . The company traded as high as $380.01 and last traded at $371.95, with a volume of 742211 shares trading hands. The stock had previously closed at $369.09.

Wall Street Analyst Weigh In

A number of analysts have recently commented on FN shares. Needham & Company LLC reaffirmed a "buy" rating and issued a $350.00 price target on shares of Fabrinet in a research note on Tuesday, August 19th. JPMorgan Chase & Co. raised Fabrinet from a "neutral" rating to an "overweight" rating and upped their price target for the company from $318.00 to $345.00 in a research note on Monday, August 25th. Barclays upped their price target on Fabrinet from $234.00 to $329.00 and gave the company an "equal weight" rating in a research note on Tuesday, August 19th. Wolfe Research initiated coverage on Fabrinet in a research note on Tuesday, July 8th. They issued a "peer perform" rating for the company. Finally, Zacks Research cut Fabrinet from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 28th. 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.com, the stock has an average rating of "Moderate Buy" and an average price target of $312.33.

Fabrinet Trading Up 0.8%

The business has a 50 day moving average of $319.52 and a 200-day moving average of $253.93. The firm has a market capitalization of $13.29 billion, a P/E ratio of 40.52 and a beta of 1.08.

Fabrinet (NYSE:FN - Get Free Report) last posted its earnings results on Monday, August 18th. The technology company reported $2.65 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.63 by $0.02. Fabrinet had a return on equity of 17.77% and a net margin of 9.72%.The business had revenue of $909.69 million during the quarter, compared to analysts' expectations of $880.19 million. During the same period in the prior year, the business earned $2.41 EPS. Fabrinet's revenue for the quarter was up 20.8% compared to the same quarter last year. Fabrinet has set its Q1 2026 guidance at 2.750-2.900 EPS. On average, analysts anticipate that Fabrinet will post 9.4 EPS for the current fiscal year.

Insiders Place Their Bets

In other Fabrinet news, CEO Seamus Grady sold 9,513 shares of the company's stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $329.52, for a total transaction of $3,134,723.76. Following the completion of the transaction, the chief executive officer owned 46,024 shares of the company's stock, valued at $15,165,828.48. This represents a 17.13% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Harpal Gill sold 14,203 shares of the company's stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $355.15, for a total value of $5,044,195.45. Following the transaction, the chief operating officer directly owned 13,983 shares of the company's stock, valued at approximately $4,966,062.45. This trade represents a 50.39% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 27,049 shares of company stock valued at $9,360,401 in the last quarter. 0.38% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Fabrinet

A number of large investors have recently bought and sold shares of FN. Wasatch Advisors LP boosted its position in Fabrinet by 45.1% during the 2nd quarter. Wasatch Advisors LP now owns 1,779,665 shares of the technology company's stock worth $524,432,000 after acquiring an additional 553,196 shares during the last quarter. Norges Bank acquired a new stake in shares of Fabrinet in the 2nd quarter valued at approximately $124,046,000. Invesco Ltd. boosted its holdings in shares of Fabrinet by 446.6% in the 2nd quarter. Invesco Ltd. now owns 511,553 shares of the technology company's stock valued at $150,744,000 after buying an additional 417,959 shares during the last quarter. Westfield Capital Management Co. LP boosted its holdings in shares of Fabrinet by 102.8% in the 2nd quarter. Westfield Capital Management Co. LP now owns 663,310 shares of the technology company's stock valued at $195,464,000 after buying an additional 336,173 shares during the last quarter. Finally, Nuveen LLC acquired a new stake in shares of Fabrinet in the 1st quarter valued at approximately $64,274,000. Institutional investors and hedge funds own 97.38% of the company's stock.

About Fabrinet

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.

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