Fabrinet (NYSE:FN) Sets New 52-Week High - Still a Buy?

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.

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

Wall Street Analyst Weigh In

FN has been the subject of several recent research reports. Needham & Company LLC restated a "buy" rating and issued a $350.00 price target on shares of Fabrinet in a research note on Tuesday, August 19th. B. Riley boosted their price target on Fabrinet from $184.00 to $220.00 and gave the company a "neutral" rating in a research note on Tuesday, August 19th. JPMorgan Chase & Co. upgraded Fabrinet from a "neutral" rating to an "overweight" rating and boosted their price target for the company from $318.00 to $345.00 in a research note on Monday, August 25th. Barclays boosted 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. Finally, Wolfe Research initiated coverage on Fabrinet in a research note on Tuesday, July 8th. They issued a "peer perform" rating for the company. Four research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $312.33.

Fabrinet Stock Down 0.4%

The firm has a 50 day moving average of $323.74 and a 200 day moving average of $257.84. The firm has a market cap of $12.77 billion, a price-to-earnings ratio of 38.81 and a beta of 1.08.

Fabrinet (NYSE:FN - Get Free Report) last announced its quarterly earnings data on Monday, August 18th. The technology company reported $2.65 EPS for the quarter, beating 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 firm had revenue of $909.69 million during the quarter, compared to analysts' expectations of $880.19 million. During the same quarter last year, the firm posted $2.41 earnings per share. The company'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. Equities analysts expect that Fabrinet will post 9.4 EPS for the current year.

Insider Buying and Selling at Fabrinet

In related news, EVP Edward T. Archer sold 3,333 shares of Fabrinet stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $354.48, for a total transaction of $1,181,481.84. Following the transaction, the executive vice president owned 6,644 shares of the company's stock, valued at $2,355,165.12. The trade was a 33.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Harpal Gill sold 14,203 shares of Fabrinet stock in a transaction 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 sale, the chief operating officer owned 13,983 shares in the company, valued at $4,966,062.45. This trade represents a 50.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 27,049 shares of company stock valued at $9,360,401. Company insiders own 0.38% of the company's stock.

Institutional Trading of Fabrinet

A number of hedge funds have recently bought and sold shares of the business. Wasatch Advisors LP lifted its holdings in Fabrinet by 45.1% during the second 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 period. Geode Capital Management LLC raised its stake in shares of Fabrinet by 0.5% in the second quarter. Geode Capital Management LLC now owns 1,051,108 shares of the technology company's stock valued at $309,771,000 after buying an additional 5,114 shares during the period. Westfield Capital Management Co. LP raised its stake in shares of Fabrinet by 102.8% in the second 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 period. Baillie Gifford & Co. raised its stake in shares of Fabrinet by 16.5% in the first quarter. Baillie Gifford & Co. now owns 644,557 shares of the technology company's stock valued at $127,306,000 after buying an additional 91,519 shares during the period. Finally, TD Asset Management Inc raised its stake in shares of Fabrinet by 25.4% during the 2nd quarter. TD Asset Management Inc now owns 599,337 shares of the technology company's stock valued at $176,613,000 after purchasing an additional 121,233 shares during the period. 97.38% of the stock is currently owned by institutional investors.

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.