Fabrinet (NYSE:FN) Sets New 52-Week High - Here's Why

Key Points

• Fabrinet (NYSE:FN) reached a new 52-week high of $362.48, closing at $361.83 with a volume of 772,492 shares traded.
• Analysts have rated Fabrinet with a mix of buy and hold ratings, resulting in an average rating of "Moderate Buy" and a price target of $312.33.
• Fabrinet reported $2.65 EPS for the last quarter, exceeding expectations, and projected revenue growth of 20.8% year-over-year.

Fabrinet (NYSE:FN - Get Free Report) reached a new 52-week high during trading on Friday . The stock traded as high as $362.48 and last traded at $361.83, with a volume of 772492 shares traded. The stock had previously closed at $337.53.

Wall Street Analyst Weigh In

Several research firms recently commented on FN. Needham & Company LLC reiterated a "buy" rating and set a $350.00 price objective on shares of Fabrinet in a research note on Tuesday, August 19th. Zacks Research lowered shares of Fabrinet from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 28th. Wolfe Research initiated coverage on shares of Fabrinet in a research note on Tuesday, July 8th. They set a "peer perform" rating 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. Finally, B. Riley upped their price target on shares of Fabrinet from $184.00 to $220.00 and gave the company a "neutral" rating in a research note on Tuesday, August 19th. Four equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $312.33.

Fabrinet Stock Performance

The firm has a market cap of $12.93 billion, a price-to-earnings ratio of 39.42 and a beta of 1.08. The stock's 50 day simple moving average is $313.25 and its 200-day simple moving average is $250.14.

Fabrinet (NYSE:FN - Get Free Report) last released its quarterly earnings data on Monday, August 18th. The technology company reported $2.65 earnings per share for the quarter, topping analysts' consensus estimates 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 analyst estimates of $880.19 million. During the same quarter in the prior year, the business earned $2.41 earnings per share. The business's quarterly 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, analysts expect that Fabrinet will post 9.4 EPS for the current fiscal year.

Insider Activity

In other news, EVP Edward T. Archer sold 3,333 shares of the firm's stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $354.48, for a total value of $1,181,481.84. Following the transaction, the executive vice president directly owned 6,644 shares of the company's stock, valued at approximately $2,355,165.12. This trade represents a 33.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Seamus Grady sold 9,513 shares of the firm's stock in a transaction dated 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 directly owned 46,024 shares in the company, valued at approximately $15,165,828.48. This represents a 17.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 27,049 shares of company stock worth $9,360,401 over the last 90 days. 0.38% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Fabrinet

A number of institutional investors have recently bought and sold shares of the company. Osaic Holdings Inc. raised its stake in Fabrinet by 378.4% during the second quarter. Osaic Holdings Inc. now owns 22,286 shares of the technology company's stock worth $6,567,000 after purchasing an additional 17,628 shares during the period. B. Riley Wealth Advisors Inc. purchased a new position in Fabrinet during the second quarter worth about $317,000. Cim LLC increased its position in shares of Fabrinet by 3.1% during the second quarter. Cim LLC now owns 6,200 shares of the technology company's stock valued at $1,827,000 after acquiring an additional 189 shares during the last quarter. State of Wyoming increased its position in shares of Fabrinet by 28.9% during the second quarter. State of Wyoming now owns 1,665 shares of the technology company's stock valued at $491,000 after acquiring an additional 373 shares during the last quarter. Finally, Castleark Management LLC increased its position in shares of Fabrinet by 55.0% during the second quarter. Castleark Management LLC now owns 31,920 shares of the technology company's stock valued at $9,406,000 after acquiring an additional 11,330 shares during the last quarter. 97.38% of the stock is owned by hedge funds and other institutional investors.

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.

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