Needham & Company LLC Has Lowered Expectations for Fabrinet (NYSE:FN) Stock Price

Fabrinet (NYSE:FN) had its target price cut by equities research analysts at Needham & Company LLC from $800.00 to $650.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the technology company’s stock. Needham & Company LLC’s price objective would indicate a potential upside of 23.33% from the company’s previous close.

Several other equities analysts also recently commented on the company. Zacks Research downgraded Fabrinet from a “strong-buy” rating to a “hold” rating in a report on Monday, June 15th. Fox Advisors cut shares of Fabrinet from a “strong-buy” rating to an “equal weight” rating in a research note on Tuesday, May 5th. Wall Street Zen lowered shares of Fabrinet from a “buy” rating to a “hold” rating in a research note on Monday. JPMorgan Chase & Co. dropped their target price on shares of Fabrinet from $700.00 to $680.00 and set a “neutral” rating on the stock in a report on Tuesday, May 5th. Finally, Weiss Ratings lowered shares of Fabrinet from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, June 30th. Six investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, Fabrinet presently has an average rating of “Moderate Buy” and a consensus price target of $643.00.

Fabrinet Price Performance

Shares of NYSE:FN opened at $527.04 on Wednesday. Fabrinet has a fifty-two week low of $272.49 and a fifty-two week high of $748.89. The business has a 50-day moving average of $592.74 and a two-hundred day moving average of $564.59. The stock has a market capitalization of $18.88 billion, a P/E ratio of 45.28 and a beta of 1.20.

Fabrinet (NYSE:FN) last issued its quarterly earnings data on Monday, May 4th. The technology company reported $3.72 EPS for the quarter, beating analysts’ consensus estimates of $3.58 by $0.14. Fabrinet had a return on equity of 19.83% and a net margin of 9.94%.The business had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same quarter in the prior year, the firm posted $2.52 EPS. The firm’s revenue for the quarter 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, research analysts expect that Fabrinet will post 12.97 EPS for the current fiscal year.

Insider Activity at Fabrinet

In other news, Director Homa Bahrami sold 2,500 shares of the stock in a transaction that occurred on Friday, May 22nd. The stock was 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 of the company’s stock, valued at approximately $11,556,435.03. This represents a 13.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.24% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Fabrinet

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Ashton Thomas Private Wealth LLC bought a new stake in Fabrinet in the 1st quarter valued at $203,000. Empowered Funds LLC bought a new position in shares of Fabrinet during the 1st quarter worth about $2,331,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Fabrinet by 4.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 79,444 shares of the technology company’s stock valued at $15,691,000 after buying an additional 3,717 shares during the last quarter. M&T Bank Corp acquired a new position in shares of Fabrinet during the second quarter valued at about $214,000. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of Fabrinet by 574.7% in the second quarter. EverSource Wealth Advisors LLC now owns 533 shares of the technology company’s stock valued at $157,000 after buying an additional 454 shares during the period. Institutional investors own 97.38% of the company’s stock.

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.