Fabrinet (NYSE:FN) Price Target Raised to $470.00

Fabrinet (NYSE:FN) had its target price increased by equities research analysts at JPMorgan Chase & Co. from $465.00 to $470.00 in a report released on Tuesday, Benzinga reports. The firm currently has a “neutral” rating on the technology company’s stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 29.07% from the company’s current price.

FN has been the topic of a number of other research reports. Barclays raised their price objective on shares of Fabrinet from $702.00 to $739.00 and gave the company an “overweight” rating in a research note on Tuesday, August 18th. B. Riley Financial cut their target price on Fabrinet from $431.00 to $385.00 and set a “neutral” rating for the company in a research report on Friday. Weiss Ratings downgraded Fabrinet from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, September 9th. Susquehanna cut their price objective on Fabrinet from $850.00 to $600.00 and set a “positive” rating for the company in a report on Wednesday, October 21st. Finally, Wall Street Zen cut Fabrinet from a “buy” rating to a “hold” rating in a research note on Monday, July 20th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $579.25.

Fabrinet Stock Up 15.7%

FN stock traded up $49.45 during midday trading on Tuesday, reaching $364.15. The company had a trading volume of 1,177,340 shares, compared to its average volume of 863,686. The firm has a market capitalization of $13.05 billion, a PE ratio of 27.72 and a beta of 1.35. The stock has a 50 day moving average price of $402.07 and a 200 day moving average price of $521.45. Fabrinet has a fifty-two week low of $305.63 and a fifty-two week high of $748.89.

Fabrinet (NYSE:FN) last issued its quarterly earnings data on Monday, November 2nd. The technology company reported $4.34 earnings per share for the quarter, beating the consensus estimate of $4.20 by $0.14. The firm had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.41 billion. Fabrinet had a net margin of 10.19% and a return on equity of 21.23%. Fabrinet’s quarterly revenue was up 50.7% compared to the same quarter last year. During the same period last year, the firm posted $2.92 EPS. Research analysts predict that Fabrinet will post 17.50 EPS for the current year.

Insider Activity at Fabrinet

In other news, EVP Edward Archer sold 2,500 shares of the company’s stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $385.91, for a total transaction of $964,775.00. Following the completion of the transaction, the executive vice president owned 7,007 shares of the company’s stock, valued at approximately $2,704,071.37. This represents a 26.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.22% of the company’s stock.

Hedge Funds Weigh In On Fabrinet

A number of hedge funds have recently made changes to their positions in FN. Glenmede Trust Co. NA boosted its holdings in Fabrinet by 1.7% during the first quarter. Glenmede Trust Co. NA now owns 1,168 shares of the technology company’s stock valued at $609,000 after purchasing an additional 19 shares in the last quarter. HB Wealth Management LLC grew its stake in shares of Fabrinet by 2.9% in the 2nd quarter. HB Wealth Management LLC now owns 865 shares of the technology company’s stock valued at $486,000 after purchasing an additional 24 shares during the period. Root Financial Partners LLC raised its holdings in shares of Fabrinet by 29.2% in the 1st quarter. Root Financial Partners LLC now owns 146 shares of the technology company’s stock worth $76,000 after buying an additional 33 shares in the last quarter. Waverly Advisors LLC raised its holdings in shares of Fabrinet by 4.5% in the 2nd quarter. Waverly Advisors LLC now owns 841 shares of the technology company’s stock worth $473,000 after buying an additional 36 shares in the last quarter. Finally, Richardson Financial Services Inc. lifted its position in shares of Fabrinet by 26.8% during the 3rd quarter. Richardson Financial Services Inc. now owns 189 shares of the technology company’s stock worth $80,000 after buying an additional 40 shares during the period. Institutional investors and hedge funds own 97.38% of the company’s stock.

Fabrinet News Summary

Here are the key news stories impacting Fabrinet this week:

• Positive Sentiment: Strong Q1 results: Fabrinet reported record fiscal first-quarter revenue that exceeded its own guidance range, with EPS growth to $4.34 from $2.92 a year earlier. Fabrinet Announces First Quarter Fiscal Year 2027 Financial Results
• Positive Sentiment: Above-consensus outlook: Fabrinet guided fiscal second-quarter revenue to $1.6 billion-$1.7 billion and EPS to $4.77-$4.92, both ahead of analyst expectations of approximately $1.5 billion and $4.39, respectively. Fabrinet Q1 Earnings Call Highlights Capacity Expansion and AI Demand
• Positive Sentiment: AI and data-center demand: Management cited surging demand from data-center customers, new optical programs, and capacity investments. Fabrinet is starting construction of Building 11, which is expected to provide approximately $3 billion of additional capacity over time. Fabrinet anticipates Q2 revenue and Building 11 capacity
• Positive Sentiment: Analyst support: Needham reaffirmed its Buy rating with a $500 price target, indicating substantial potential upside based on the cited share price. Needham analyst recommendations
• Neutral Sentiment: Mixed target-price signals: Rosenblatt maintained a Buy rating but reduced its target from $750 to $600, suggesting continued confidence in Fabrinet’s outlook while reflecting a more cautious valuation view.
• Negative Sentiment: Cash and tax considerations: Commentary noted that rapid 51% sales growth is consuming cash, while a new global minimum tax limited GAAP earnings growth relative to revenue growth. Fabrinet’s 51% Growth Comes at a Cash Cost

About Fabrinet

Fabrinet (NYSE: FN) is a provider of outsourced manufacturing services for complex optical, electronic and electromechanical products. The company works with original equipment manufacturers and other technology companies to design, manufacture, assemble, test and distribute products used in optical communications, industrial lasers, automotive applications, medical devices and other advanced technology markets.

Its capabilities include precision optical packaging, optical and electronic assembly, printed circuit board assembly, electromechanical manufacturing, engineering support, supply-chain management and testing.