Fabrinet (NYSE:FN) Trading Down 7.5% After Analyst Downgrade

Fabrinet (NYSE:FN)’s stock price fell 7.5% during mid-day trading on Tuesday after Zacks Research downgraded the stock from a strong-buy rating to a hold rating. The company traded as low as $592.00 and last traded at $588.22. 129,778 shares were traded during trading, a decline of 83% from the average session volume of 775,324 shares. The stock had previously closed at $635.58.

A number of other equities research analysts have also recently issued reports on FN. Weiss Ratings upgraded Fabrinet from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday. Barclays boosted their price objective on Fabrinet from $548.00 to $702.00 and gave the stock an “overweight” rating in a report on Tuesday, May 5th. Fox Advisors cut Fabrinet from a “strong-buy” rating to an “equal weight” rating in a report on Tuesday, May 5th. Needham & Company LLC restated a “buy” rating and set a $800.00 price objective on shares of Fabrinet in a report on Tuesday, May 5th. Finally, JPMorgan Chase & Co. reduced their price objective on Fabrinet from $700.00 to $680.00 and set a “neutral” rating for the company in a report on Tuesday, May 5th. Six equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, Fabrinet has an average rating of “Moderate Buy” and an average price target of $661.75.

Insider Buying and Selling at Fabrinet

In other news, Director Homa Bahrami sold 2,500 shares of Fabrinet stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $711.91, for a total value of $1,779,775.00. Following the completion of the sale, the director directly owned 16,233 shares in the company, valued at approximately $11,556,435.03. The trade was a 13.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.24% of the company’s stock.

Institutional Investors Weigh In On Fabrinet

A number of hedge funds and other institutional investors have recently made changes to their positions in FN. Core Wealth Advisors LLC acquired a new stake in shares of Fabrinet in the fourth quarter valued at approximately $25,000. Westend Capital Management LLC acquired a new position in Fabrinet during the fourth quarter valued at approximately $29,000. Harbour Investments Inc. raised its position in Fabrinet by 75.0% during the fourth quarter. Harbour Investments Inc. now owns 63 shares of the technology company’s stock valued at $29,000 after purchasing an additional 27 shares in the last quarter. Cassaday & Co Wealth Management LLC acquired a new position in Fabrinet during the first quarter valued at approximately $31,000. Finally, Creative Financial Designs Inc. ADV acquired a new position in Fabrinet during the fourth quarter valued at approximately $32,000. 97.38% of the stock is currently owned by institutional investors and hedge funds.

Fabrinet Price Performance

The firm has a market capitalization of $20.95 billion, a price-to-earnings ratio of 50.24 and a beta of 1.17. The firm’s 50-day simple moving average is $661.32 and its 200 day simple moving average is $556.71.

Fabrinet (NYSE:FN) last announced its quarterly earnings data on Monday, May 4th. The technology company reported $3.72 EPS for the quarter, beating the consensus estimate of $3.58 by $0.14. The business had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.19 billion. Fabrinet had a net margin of 9.94% and a return on equity of 19.83%. The company’s revenue was up 39.3% on a year-over-year basis. During the same period in the previous year, the business earned $2.52 earnings per share. Fabrinet has set its Q4 2026 guidance at 3.720-3.870 EPS. As a group, research analysts predict that Fabrinet will post 12.96 earnings per share for the current year.

Fabrinet Company Profile

Fabrinet is a global provider of advanced optical packaging and precision optical, electro?mechanical and electronic manufacturing services (CEM). The company specializes in complex manufacturing processes for original equipment manufacturers (OEMs) in communications, data center, industrial, instrumentation and medical markets. Key capabilities include high?precision fiber alignment, micro?assembly, testing and diagnostics, and integration of electro?optic subassemblies.

Incorporated in 2000, Fabrinet operates under a corporate structure headquartered in Singapore with additional regional offices and design centers in the Americas, Europe and Asia.