Fabrinet (NYSE:FN) Upgraded at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of Fabrinet (NYSE:FN) from a neutral rating to an overweight rating in a report published on Monday morning, Marketbeat reports. JPMorgan Chase & Co. currently has $345.00 price objective on the technology company’s stock, up from their prior price objective of $318.00.

FN has been the subject of a number of other research reports. B. Riley boosted their target price on Fabrinet from $184.00 to $220.00 and gave the company a “neutral” rating in a research note on Tuesday, August 19th. Needham & Company LLC reaffirmed a “buy” rating and issued a $350.00 price target on shares of Fabrinet in a research note on Tuesday, August 19th. Barclays increased their price objective on Fabrinet from $234.00 to $329.00 and gave the company an “equal weight” rating in a research note on Tuesday, August 19th. Wolfe Research started coverage on shares of Fabrinet in a report on Tuesday, July 8th. They issued a “peer perform” rating on the stock. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $360.00 price target on shares of Fabrinet in a report on Tuesday, August 19th. Four investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $312.33.

Fabrinet Stock Performance

Shares of Fabrinet stock opened at $332.12 on Monday. Fabrinet has a 52-week low of $148.55 and a 52-week high of $356.55. The stock has a market capitalization of $11.87 billion, a price-to-earnings ratio of 36.18 and a beta of 1.02. The company has a fifty day moving average of $305.50 and a 200-day moving average of $244.89.

Fabrinet (NYSE:FN) last issued its earnings results on Monday, August 18th. The technology company reported $2.65 EPS 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 company had revenue of $909.69 million for the quarter, compared to analysts’ expectations of $880.19 million. During the same quarter last year, the company earned $2.41 EPS. The firm’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, equities research analysts forecast that Fabrinet will post 9.4 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, COO Harpal Gill sold 18,675 shares of the firm’s stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $240.00, for a total value 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 trade represents a 50.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.38% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Wasatch Advisors LP lifted its stake in shares of Fabrinet by 45.1% in the 2nd quarter. Wasatch Advisors LP now owns 1,779,665 shares of the technology company’s stock valued at $524,432,000 after purchasing an additional 553,196 shares during the period. Norges Bank bought a new position in Fabrinet in the second quarter worth $124,046,000. Invesco Ltd. lifted its position in Fabrinet by 446.6% during the second quarter. Invesco Ltd. now owns 511,553 shares of the technology company’s stock valued at $150,744,000 after buying an additional 417,959 shares during the period. Westfield Capital Management Co. LP increased its stake in shares of Fabrinet by 102.8% in the 2nd quarter. Westfield Capital Management Co. LP now owns 663,310 shares of the technology company’s stock worth $195,464,000 after acquiring an additional 336,173 shares in the last quarter. Finally, Nuveen LLC purchased a new position in Fabrinet during the 1st quarter valued at about $64,274,000. Hedge funds and other institutional investors own 97.38% of the company’s stock.

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.