Fabrinet (NYSE:FN) Stock Price Up 6% on Analyst Upgrade

Key Points

• Fabrinet's stock price rose by 6% after JPMorgan Chase raised its price target from $345.00 to $430.00, maintaining an overweight rating on the stock.
• Approximately 187,270 shares were traded, a significant decline of 73% from the average daily volume, indicating reduced trading activity.
• Fabrinet's recent quarterly results showed a 20.8% increase in revenue year-over-year, with earnings per share reported at $2.65, exceeding expectations.

Shares of Fabrinet (NYSE:FN - Get Free Report) were up 6% on Thursday after JPMorgan Chase & Co. raised their price target on the stock from $345.00 to $430.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Fabrinet traded as high as $432.00 and last traded at $422.21. Approximately 187,270 shares traded hands during trading, a decline of 73% from the average daily volume of 702,250 shares. The stock had previously closed at $398.34.

Several other brokerages also recently commented on FN. Rosenblatt Securities raised their target price on Fabrinet from $360.00 to $425.00 and gave the stock a "buy" rating in a research note on Thursday, October 2nd. B. Riley raised their target price on Fabrinet from $184.00 to $220.00 and gave the stock a "neutral" rating in a research note on Tuesday, August 19th. Weiss Ratings reiterated a "buy (b-)" rating on shares of Fabrinet in a research report on Wednesday, October 8th. Zacks Research downgraded Fabrinet from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 28th. Finally, Wolfe Research initiated coverage on Fabrinet in a research report on Tuesday, July 8th. They set a "peer perform" rating for the company. Five equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $337.33.

Insiders Place Their Bets

In other news, EVP Edward T. Archer sold 3,333 shares of the business's 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 directly owned 6,644 shares of the company's stock, valued at approximately $2,355,165.12. The trade was a 33.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Seamus Grady sold 9,513 shares of the business's stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $329.52, for a total value of $3,134,723.76. Following the transaction, the chief executive officer directly owned 46,024 shares in the company, valued at $15,165,828.48. This trade represents a 17.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 27,049 shares of company stock valued at $9,360,401 in the last ninety days. Company insiders own 0.38% of the company's stock.

Institutional Investors Weigh In On Fabrinet

Hedge funds have recently made changes to their positions in the company. Maseco LLP bought a new stake in Fabrinet in the second quarter worth $25,000. Elevation Point Wealth Partners LLC bought a new stake in Fabrinet in the second quarter worth $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 worth $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 worth $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 worth $29,000. 97.38% of the stock is currently owned by institutional investors.

Fabrinet Stock Up 5.9%

The company has a fifty day simple moving average of $352.01 and a 200 day simple moving average of $282.08. The firm has a market capitalization of $15.07 billion, a P/E ratio of 45.99 and a beta of 1.05.

Fabrinet (NYSE:FN - Get Free Report) last posted its quarterly earnings results on Monday, August 18th. The technology company reported $2.65 earnings per share for the quarter, topping the consensus estimate 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 in the previous year, the business earned $2.41 earnings per share. The company's 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, equities analysts expect that Fabrinet will post 9.4 earnings per share for the current fiscal 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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