Fabrinet (NYSE:FN) Shares Gap Down Following Analyst Downgrade

Shares of Fabrinet (NYSE:FN) gapped down prior to trading on Thursday after JPMorgan Chase & Co. downgraded the stock from an overweight rating to a neutral rating. The stock had previously closed at $685.81, but opened at $664.00. JPMorgan Chase & Co. now has a $700.00 price target on the stock, up from their previous price target of $530.00. Fabrinet shares last traded at $659.6840, with a volume of 226,114 shares traded.

FN has been the subject of a number of other reports. Rosenblatt Securities reiterated a “buy” rating and issued a $550.00 target price on shares of Fabrinet in a research note on Tuesday, February 3rd. Wolfe Research upgraded Fabrinet from a “peer perform” rating to an “outperform” rating and set a $540.00 price target on the stock in a research note on Wednesday, February 4th. Northland Securities set a $600.00 price target on Fabrinet in a research note on Monday, December 22nd. Needham & Company LLC reiterated a “buy” rating and set a $540.00 price target on shares of Fabrinet in a research note on Tuesday, February 3rd. Finally, Susquehanna boosted their price target on Fabrinet from $550.00 to $570.00 and gave the company a “positive” rating in a research note on Thursday, January 22nd. Five investment 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, the company presently has a consensus rating of “Moderate Buy” and an average price target of $562.50.

Institutional Trading of Fabrinet

Large investors have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD boosted its stake in shares of Fabrinet by 163.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,041,227 shares of the technology company’s stock worth $1,839,891,000 after buying an additional 2,504,841 shares during the last quarter. Wasatch Advisors LP boosted its stake in shares of Fabrinet by 45.1% in the second quarter. Wasatch Advisors LP now owns 1,779,665 shares of the technology company’s stock worth $524,432,000 after buying an additional 553,196 shares during the last quarter. Norges Bank purchased a new stake in shares of Fabrinet in the fourth quarter worth about $193,766,000. JPMorgan Chase & Co. boosted its stake in shares of Fabrinet by 64.8% in the fourth quarter. JPMorgan Chase & Co. now owns 1,065,414 shares of the technology company’s stock worth $485,063,000 after buying an additional 419,081 shares during the last quarter. Finally, Alliancebernstein L.P. boosted its stake in shares of Fabrinet by 226.1% in the third quarter. Alliancebernstein L.P. now owns 499,177 shares of the technology company’s stock worth $182,010,000 after buying an additional 346,113 shares during the last quarter. Hedge funds and other institutional investors own 97.38% of the company’s stock.

Fabrinet Stock Down 2.1%

The stock has a market cap of $24.06 billion, a PE ratio of 64.32 and a beta of 1.04. The business has a 50 day moving average price of $550.17 and a 200 day moving average price of $481.46.

Fabrinet (NYSE:FN) last issued its earnings results on Monday, February 2nd. The technology company reported $3.36 EPS for the quarter, topping analysts’ consensus estimates of $3.26 by $0.10. Fabrinet had a return on equity of 18.69% and a net margin of 9.69%.The firm had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.08 billion. During the same quarter in the prior year, the business earned $2.61 earnings per share. The company’s revenue was up 35.9% compared to the same quarter last year. Fabrinet has set its Q3 2026 guidance at 3.450-3.600 EPS. On average, research analysts predict that Fabrinet will post 9.4 earnings per share for the current fiscal 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.