Fabrinet (NYSE:FN) Upgraded to “Overweight” 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, MarketBeat Ratings 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.

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

Fabrinet Stock Performance

Shares of NYSE FN opened at $312.24 on Monday. The stock has a market cap of $11.16 billion, a P/E ratio of 34.01 and a beta of 1.02. The firm has a 50 day moving average price of $302.74 and a 200 day moving average price of $243.68. Fabrinet has a 52-week low of $148.55 and a 52-week high of $356.55.

Fabrinet (NYSE:FN) last posted its 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. The company had revenue of $909.69 million for the quarter, compared to analyst estimates of $880.19 million. Fabrinet had a net margin of 9.72% and a return on equity of 17.77%. The business’s revenue for the quarter was up 20.8% compared to the same quarter last year. During the same period last year, the business posted $2.41 earnings per share. Fabrinet has set its Q1 2026 guidance at 2.750-2.900 EPS. Analysts predict that Fabrinet will post 9.4 earnings per share for the current fiscal year.

Insider Activity

In other news, COO Harpal Gill sold 18,675 shares of the business’s stock in a transaction 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 sale, the chief operating officer owned 18,068 shares of the company’s stock, valued at $4,336,320. The trade was a 50.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.38% of the stock is owned by company insiders.

Institutional Investors Weigh In On Fabrinet

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FN. First Trust Advisors LP grew its holdings in shares of Fabrinet by 96.0% in the 4th quarter. First Trust Advisors LP now owns 2,413 shares of the technology company’s stock valued at $531,000 after acquiring an additional 1,182 shares in the last quarter. T. Rowe Price Investment Management Inc. acquired a new position in Fabrinet during the fourth quarter valued at approximately $1,945,000. Voya Investment Management LLC grew its stake in Fabrinet by 27.5% in the fourth quarter. Voya Investment Management LLC now owns 24,437 shares of the technology company’s stock valued at $5,373,000 after purchasing an additional 5,271 shares in the last quarter. Two Sigma Securities LLC bought a new position in Fabrinet in the fourth quarter valued at approximately $227,000. Finally, Susquehanna Fundamental Investments LLC acquired a new position in shares of Fabrinet during the 4th quarter worth approximately $460,000. 97.38% of the stock is currently owned by institutional investors and hedge funds.

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.