Needham & Company LLC Lowers Fabrinet (NYSE:FN) Price Target to $650.00

Fabrinet (NYSE:FN) had its price objective lowered by analysts at Needham & Company LLC from $800.00 to $650.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the technology company’s stock. Needham & Company LLC’s target price suggests a potential upside of 25.80% from the stock’s current price.

Several other equities analysts have also recently issued reports on FN. Zacks Research cut shares of Fabrinet from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 15th. JPMorgan Chase & Co. decreased their price objective on shares of Fabrinet from $700.00 to $680.00 and set a “neutral” rating for the company in a report on Tuesday, May 5th. Fox Advisors downgraded shares of Fabrinet from a “strong-buy” rating to an “equal weight” rating in a research report on Tuesday, May 5th. Northland Securities set a $800.00 price objective on shares of Fabrinet in a research report on Monday, April 20th. Finally, Wall Street Zen cut shares of Fabrinet from a “buy” rating to a “hold” rating in a report on Monday. Six analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $643.00.

Fabrinet Stock Up 0.6%

Shares of NYSE FN opened at $516.70 on Wednesday. Fabrinet has a twelve month low of $272.49 and a twelve month high of $748.89. The company has a 50 day moving average of $584.60 and a 200 day moving average of $565.27. The firm has a market cap of $18.51 billion, a P/E ratio of 44.39 and a beta of 1.20.

Fabrinet (NYSE:FN) last announced its quarterly earnings results on Monday, May 4th. The technology company reported $3.72 earnings per share (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 firm had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.19 billion. During the same period in the prior year, the company posted $2.52 earnings per share. The company’s quarterly 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, equities analysts expect that Fabrinet will post 12.97 earnings per share for the current fiscal year.

Insider Activity

In other Fabrinet news, Director Homa Bahrami sold 2,500 shares of the business’s stock in a transaction dated 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 completion of the sale, the director directly owned 16,233 shares in the company, valued at $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 available through this hyperlink. 0.24% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Fabrinet

A number of institutional investors and hedge funds have recently made changes to their positions in FN. Core Wealth Advisors LLC purchased a new stake in Fabrinet during the fourth quarter valued at approximately $25,000. Cassaday & Co Wealth Management LLC purchased a new position in shares of Fabrinet during the 1st quarter worth $31,000. Westend Capital Management LLC bought a new stake in shares of Fabrinet during the 4th quarter valued at $29,000. Harbour Investments Inc. grew its position in shares of 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 acquiring an additional 27 shares during the period. Finally, Creative Financial Designs Inc. ADV bought a new stake in shares of Fabrinet during the 4th quarter valued at $32,000. Hedge funds and other institutional investors own 97.38% of the company’s stock.

About Fabrinet

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.