Fabrinet's (FN) Buy Rating Reaffirmed at Needham & Company LLC

Key Points

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Fabrinet (NYSE:FN - Get Free Report)'s stock had its "buy" rating reaffirmed by analysts at Needham & Company LLC in a note issued to investors on Tuesday,Benzinga reports. They presently have a $350.00 target price on the technology company's stock. Needham & Company LLC's price target suggests a potential upside of 19.03% from the company's current price.

Several other equities analysts have also weighed in on the stock. JPMorgan Chase & Co. increased their price objective on shares of Fabrinet from $235.00 to $318.00 and gave the company a "neutral" rating in a report on Thursday, July 17th. Rosenblatt Securities reissued a "buy" rating and issued a $360.00 target price on shares of Fabrinet in a research note on Tuesday. Barclays boosted their target price on Fabrinet from $234.00 to $329.00 and gave the company an "equal weight" rating in a research note on Tuesday. Finally, Wolfe Research assumed coverage on shares of Fabrinet in a research report on Tuesday, July 8th. They set a "peer perform" rating for the company. Three investment 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 a consensus rating of "Hold" and a consensus price target of $307.83.

Fabrinet Price Performance

Shares of FN stock traded up $17.01 during trading hours on Tuesday, reaching $294.05. 1,290,287 shares of the company were exchanged, compared to its average volume of 737,436. The stock's fifty day moving average is $301.66 and its two-hundred day moving average is $242.63. Fabrinet has a fifty-two week low of $148.55 and a fifty-two week high of $356.55. The company has a market cap of $10.51 billion, a price-to-earnings ratio of 32.03 and a beta of 1.02.

Fabrinet (NYSE:FN - Get Free Report) last announced its quarterly earnings data on Monday, August 18th. The technology company reported $2.65 earnings per share 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 business had revenue of $909.69 million for the quarter, compared to analyst estimates of $880.19 million. During the same period in the prior year, the business posted $2.41 earnings per share. Fabrinet's revenue 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, research analysts anticipate that Fabrinet will post 9.4 earnings per share for the current year.

Insider Activity

In other news, COO Harpal Gill sold 18,675 shares of the stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $240.00, for a total transaction of $4,482,000.00. Following the completion of the sale, the chief operating officer owned 18,068 shares of the company's stock, valued at $4,336,320. This represents a 50.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.38% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Cetera Investment Advisers grew its position in Fabrinet by 11.6% in the first quarter. Cetera Investment Advisers now owns 13,212 shares of the technology company's stock valued at $2,610,000 after purchasing an additional 1,368 shares in the last quarter. Atria Wealth Solutions Inc. grew its position in Fabrinet by 40.8% in the first quarter. Atria Wealth Solutions Inc. now owns 5,457 shares of the technology company's stock valued at $1,078,000 after purchasing an additional 1,582 shares in the last quarter. Private Trust Co. NA grew its position in Fabrinet by 44.3% in the first quarter. Private Trust Co. NA now owns 166 shares of the technology company's stock valued at $33,000 after purchasing an additional 51 shares in the last quarter. Deutsche Bank AG grew its position in Fabrinet by 13.9% in the first quarter. Deutsche Bank AG now owns 51,549 shares of the technology company's stock valued at $10,181,000 after purchasing an additional 6,272 shares in the last quarter. Finally, KBC Group NV grew its position in Fabrinet by 12.1% in the first quarter. KBC Group NV now owns 1,594 shares of the technology company's stock valued at $315,000 after purchasing an additional 172 shares in the last quarter. 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.