Fabrinet (NYSE:FN) Shares Gap Up on Analyst Upgrade

Key Points

• Fabrinet shares gapped up to $303.38 after JPMorgan Chase upgraded the stock from a neutral to an overweight rating, raising its price target from $318.00 to $345.00.
• Several research analysts have increased their price targets for Fabrinet, with Barclays setting a target of $329.00 and Rosenblatt Securities at $360.00, reflecting a broadly positive outlook.
• Fabrinet reported a strong quarterly performance with a 20.8% year-over-year revenue increase, surpassing expectations with $909.69 million in revenue and an EPS of $2.65.

Shares of Fabrinet (NYSE:FN - Get Free Report) gapped up prior to trading on Monday after JPMorgan Chase & Co. upgraded the stock from a neutral rating to an overweight rating. The stock had previously closed at $294.35, but opened at $303.38. JPMorgan Chase & Co. now has a $345.00 price target on the stock, up from their previous price target of $318.00. Fabrinet shares last traded at $311.95, with a volume of 152,824 shares traded.

A number of other equities research analysts also recently weighed in on the stock. Barclays raised their target price 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. B. Riley lifted their price target on shares of Fabrinet from $184.00 to $220.00 and gave the stock a "neutral" rating in a research note on Tuesday, August 19th. Rosenblatt Securities reissued a "buy" rating and set a $360.00 price target on shares of Fabrinet in a research note on Tuesday, August 19th. Wolfe Research assumed coverage on shares of Fabrinet in a research note on Tuesday, July 8th. They set a "peer perform" rating on the stock. Finally, Needham & Company LLC reissued a "buy" rating and set a $350.00 price target on shares of Fabrinet in a research note on Tuesday, August 19th. Four research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, Fabrinet currently has a consensus rating of "Moderate Buy" and an average target price of $312.33.

Insider Activity

In other news, COO Harpal Gill sold 18,675 shares of the firm's stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $240.00, for a total value of $4,482,000.00. Following the transaction, the chief operating officer owned 18,068 shares in the company, valued at approximately $4,336,320. This trade represents a 50.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.38% of the company's stock.

Institutional Trading of Fabrinet

Large investors have recently added to or reduced their stakes in the stock. Maseco LLP bought a new stake in Fabrinet in the second quarter valued at $25,000. Elevation Point Wealth Partners LLC bought a new stake in Fabrinet in the second quarter valued at $35,000. First Horizon Advisors Inc. boosted its holdings in Fabrinet by 124.2% in the second quarter. First Horizon Advisors Inc. now owns 139 shares of the technology company's stock valued at $41,000 after acquiring an additional 77 shares in the last quarter. Cullen Frost Bankers Inc. boosted its holdings in Fabrinet by 118.5% in the second quarter. Cullen Frost Bankers Inc. now owns 142 shares of the technology company's stock valued at $42,000 after acquiring an additional 77 shares in the last quarter. Finally, Banque Cantonale Vaudoise bought a new stake in Fabrinet in the first quarter valued at $29,000. Institutional investors own 97.38% of the company's stock.

Fabrinet Trading Up 5.7%

The stock has a market cap of $11.11 billion, a P/E ratio of 33.80 and a beta of 1.02. The stock's fifty day moving average price is $301.66 and its 200 day moving average price is $242.98.

Fabrinet (NYSE:FN - Get Free Report) last announced its earnings results 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 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 analysts' expectations of $880.19 million. During the same quarter in the previous year, the business posted $2.41 EPS. 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. As a group, sell-side analysts forecast that Fabrinet will post 9.4 earnings per share for the current year.

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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