Fabrinet (NYSE:FN) Given New $650.00 Price Target at Needham & Company LLC

Fabrinet (NYSE:FN) had its price target decreased by Needham & Company LLC from $800.00 to $650.00 in a research note published on Wednesday,Benzinga reports. Needham & Company LLC currently has a buy rating on the technology company’s stock.

Other equities research analysts have also issued research reports about the company. Fox Advisors lowered Fabrinet from a “strong-buy” rating to an “equal weight” rating in a research report on Tuesday, May 5th. Rosenblatt Securities increased their price target on shares of Fabrinet from $715.00 to $750.00 and gave the company a “buy” rating in a research note on Tuesday, May 5th. Zacks Research downgraded shares of Fabrinet from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 15th. Wall Street Zen cut shares of Fabrinet from a “buy” rating to a “hold” rating in a report on Monday. Finally, JPMorgan Chase & Co. reduced their price target on shares of Fabrinet from $700.00 to $680.00 and set a “neutral” rating for the company in a research report on Tuesday, May 5th. Six investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $643.00.

Fabrinet Stock Performance

NYSE FN opened at $514.66 on Wednesday. The stock’s fifty day moving average is $589.10 and its two-hundred day moving average is $565.01. The firm has a market capitalization of $18.44 billion, a P/E ratio of 44.21 and a beta of 1.20. Fabrinet has a fifty-two week low of $272.49 and a fifty-two week high of $748.89.

Fabrinet (NYSE:FN) last issued its quarterly earnings data on Monday, May 4th. The technology company reported $3.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.58 by $0.14. Fabrinet had a net margin of 9.94% and a return on equity of 19.83%. The firm had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same period in the previous year, the firm earned $2.52 EPS. Fabrinet’s revenue was up 39.3% on a year-over-year basis. Fabrinet has set its Q4 2026 guidance at 3.720-3.870 EPS. As a group, sell-side analysts forecast that Fabrinet will post 12.97 EPS for the current year.

Insider Activity

In other Fabrinet news, Director Homa Bahrami sold 2,500 shares of the business’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $711.91, for a total transaction of $1,779,775.00. Following the transaction, the director owned 16,233 shares in the company, valued at approximately $11,556,435.03. The trade was a 13.35% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.24% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Fabrinet

A number of hedge funds and other institutional investors have recently modified their holdings of FN. Core Wealth Advisors LLC purchased a new position in shares of Fabrinet during the 4th quarter worth approximately $25,000. Cassaday & Co Wealth Management LLC purchased a new stake in Fabrinet in the 1st quarter valued at approximately $31,000. Westend Capital Management LLC acquired a new stake in Fabrinet during the 4th quarter valued at $29,000. Harbour Investments Inc. grew its holdings in Fabrinet by 75.0% during the 4th quarter. Harbour Investments Inc. now owns 63 shares of the technology company’s stock valued at $29,000 after buying an additional 27 shares during the last quarter. Finally, Creative Financial Designs Inc. ADV purchased a new position in Fabrinet during the fourth quarter worth $32,000. 97.38% of the stock is currently owned by institutional investors and hedge funds.

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.