Algert Global LLC Purchases 7,853 Shares of Fabrinet $FN

Key Points

• Algert Global LLC increased its stake in Fabrinet by 14.2%, acquiring an additional 7,853 shares, bringing its total ownership to 63,149 shares worth approximately $12.47 million as of the latest SEC filing.
• Fabrinet's stock has experienced significant support from institutional investors, with 97.38% of its shares owned by hedge funds and other institutions.
• Equity analysts provide mixed ratings on Fabrinet, with a consensus rating of "Hold" and an average price target of $261.33, while some have issued a "buy" rating with targets as high as $318.00.

Algert Global LLC grew its holdings in shares of Fabrinet (NYSE:FN - Free Report) by 14.2% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 63,149 shares of the technology company's stock after buying an additional 7,853 shares during the period. Algert Global LLC owned 0.18% of Fabrinet worth $12,473,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Private Trust Co. NA boosted its position in shares of Fabrinet by 44.3% during the first quarter. Private Trust Co. NA now owns 166 shares of the technology company's stock valued at $33,000 after purchasing an additional 51 shares in the last quarter. State of Alaska Department of Revenue boosted its position in shares of Fabrinet by 1.7% during the first quarter. State of Alaska Department of Revenue now owns 4,205 shares of the technology company's stock valued at $830,000 after purchasing an additional 70 shares in the last quarter. Henry James International Management Inc. boosted its position in shares of Fabrinet by 5.6% during the first quarter. Henry James International Management Inc. now owns 1,317 shares of the technology company's stock valued at $260,000 after purchasing an additional 70 shares in the last quarter. Illumine Investment Management LLC boosted its position in shares of Fabrinet by 2.2% during the first quarter. Illumine Investment Management LLC now owns 3,461 shares of the technology company's stock valued at $684,000 after purchasing an additional 75 shares in the last quarter. Finally, Signaturefd LLC boosted its position in shares of Fabrinet by 14.3% during the first quarter. Signaturefd LLC now owns 609 shares of the technology company's stock valued at $120,000 after purchasing an additional 76 shares in the last quarter. 97.38% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

FN has been the topic of several analyst reports. Barclays boosted their target price on Fabrinet from $234.00 to $329.00 and gave the stock an "equal weight" rating in a report on Tuesday. Rosenblatt Securities reissued a "buy" rating and issued a $360.00 target price on shares of Fabrinet in a report on Tuesday. Needham & Company LLC reissued a "buy" rating and issued a $350.00 target price on shares of Fabrinet in a report on Tuesday. Wolfe Research initiated coverage on Fabrinet in a report on Tuesday, July 8th. They issued a "peer perform" rating on the stock. Finally, B. Riley boosted their target price on Fabrinet from $184.00 to $220.00 and gave the stock a "neutral" rating in a report on Tuesday. Three analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $307.83.

Fabrinet Stock Performance

Shares of NYSE:FN traded up $15.0860 during midday trading on Friday, reaching $292.1260. 515,410 shares of the company's stock traded hands, compared to its average volume of 721,572. The company has a market cap of $10.44 billion, a price-to-earnings ratio of 31.82 and a beta of 1.02. Fabrinet has a one year low of $148.55 and a one year high of $356.55. The stock has a 50 day moving average of $300.68 and a 200 day moving average of $242.03.

Fabrinet (NYSE:FN - Get Free Report) last announced its quarterly earnings results on Monday, August 18th. The technology company reported $2.65 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.63 by $0.02. The firm had revenue of $909.69 million for the quarter, compared to the consensus estimate of $880.19 million. Fabrinet had a return on equity of 17.77% and a net margin of 9.72%.The company's quarterly revenue was up 20.8% on a year-over-year basis. During the same period in the prior year, the company posted $2.41 earnings per share. Fabrinet has set its Q1 2026 guidance at 2.750-2.900 EPS. Sell-side analysts predict that Fabrinet will post 9.4 EPS for the current fiscal year.

Insider Activity

In other news, COO Harpal Gill sold 18,675 shares of the company's stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $240.00, for a total transaction of $4,482,000.00. Following the transaction, the chief operating officer directly owned 18,068 shares of the company's stock, valued at $4,336,320. This represents a 50.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.38% of the stock is currently owned by insiders.

Fabrinet Company Profile

Fabrinet provides optical packaging and precision optical, electro-mechanical, and electronic manufacturing services in North America, the Asia-Pacific, and Europe. The company offers a range of advanced optical and electro-mechanical capabilities in the manufacturing process, including process design and engineering, supply chain management, manufacturing, printed circuit board assembly, advanced packaging, integration, final assembly, and testing.