Allspring Global Investments Holdings LLC Has $20.43 Million Stake in Fabrinet $FN

Key Points

• Allspring Global Investments Holdings LLC increased its stake in Fabrinet by 34.9%, holding a total of 70,675 shares valued at $20.43 million.
• Recent insider transactions include EVP Edward T. Archer and COO Harpal Gill selling significant portions of their stocks, indicating a 50.39% decrease in Gill's ownership after selling 14,203 shares.
• Fabrinet's stock opened at $412.97 with a market capitalization of $14.76 billion, while the company reported earnings per share of $2.65 exceeding analyst expectations.

Allspring Global Investments Holdings LLC grew its holdings in shares of Fabrinet (NYSE:FN - Free Report) by 34.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 70,675 shares of the technology company's stock after acquiring an additional 18,274 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.20% of Fabrinet worth $20,433,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. IFP Advisors Inc increased its stake in shares of Fabrinet by 10.9% in the second quarter. IFP Advisors Inc now owns 347 shares of the technology company's stock valued at $103,000 after buying an additional 34 shares during the period. Private Trust Co. NA boosted its holdings in Fabrinet by 44.3% in the first quarter. Private Trust Co. NA now owns 166 shares of the technology company's stock valued at $33,000 after acquiring an additional 51 shares during the last quarter. CreativeOne Wealth LLC boosted its holdings in Fabrinet by 4.9% in the first quarter. CreativeOne Wealth LLC now owns 1,148 shares of the technology company's stock valued at $227,000 after acquiring an additional 54 shares during the last quarter. UMB Bank n.a. boosted its holdings in Fabrinet by 14.6% in the second quarter. UMB Bank n.a. now owns 456 shares of the technology company's stock valued at $134,000 after acquiring an additional 58 shares during the last quarter. Finally, Fifth Third Bancorp boosted its holdings in Fabrinet by 17.7% in the second quarter. Fifth Third Bancorp now owns 413 shares of the technology company's stock valued at $122,000 after acquiring an additional 62 shares during the last quarter. Institutional investors and hedge funds own 97.38% of the company's stock.

Insider Buying and Selling

In related news, EVP Edward T. Archer sold 3,333 shares of the stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $354.48, for a total value of $1,181,481.84. Following the transaction, the executive vice president directly owned 6,644 shares in the company, valued at $2,355,165.12. This trade represents a 33.41% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Harpal Gill sold 14,203 shares of the stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $355.15, for a total value of $5,044,195.45. Following the completion of the transaction, the chief operating officer owned 13,983 shares in the company, valued at approximately $4,966,062.45. This represents a 50.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 27,049 shares of company stock worth $9,360,401 in the last ninety days. Corporate insiders own 0.38% of the company's stock.

Fabrinet Stock Performance

Fabrinet stock opened at $412.97 on Friday. The stock has a market capitalization of $14.76 billion, a price-to-earnings ratio of 44.99 and a beta of 1.05. Fabrinet has a 52-week low of $148.55 and a 52-week high of $432.00. The stock's 50 day moving average price is $353.58 and its two-hundred day moving average price is $283.57.

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

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. B. Riley upped their target price on Fabrinet from $184.00 to $220.00 and gave the company a "neutral" rating in a report on Tuesday, August 19th. Weiss Ratings reiterated a "buy (b-)" rating on shares of Fabrinet in a report on Wednesday, October 8th. JPMorgan Chase & Co. upped their target price on Fabrinet from $345.00 to $430.00 and gave the company an "overweight" rating in a report on Thursday. Rosenblatt Securities upped their target price on Fabrinet from $360.00 to $425.00 and gave the company a "buy" rating in a report on Thursday, October 2nd. Finally, Barclays increased their price target on Fabrinet from $234.00 to $329.00 and gave the stock an "equal weight" rating in a report on Tuesday, August 19th. Five equities research 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.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $337.33.

About Fabrinet

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.

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