Assetmark Inc. Grows Position in Fabrinet $FN

Assetmark Inc. increased its holdings in Fabrinet (NYSE:FN - Free Report) by 499.3% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 4,189 shares of the technology company's stock after buying an additional 3,490 shares during the quarter. Assetmark Inc.'s holdings in Fabrinet were worth $2,185,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Price T Rowe Associates Inc. MD boosted its holdings in shares of Fabrinet by 163.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 4,041,227 shares of the technology company's stock valued at $1,839,891,000 after acquiring an additional 2,504,841 shares during the last quarter. Wasatch Advisors LP boosted its holdings in Fabrinet by 45.1% in the second quarter. Wasatch Advisors LP now owns 1,779,665 shares of the technology company's stock worth $524,432,000 after purchasing an additional 553,196 shares during the last quarter. Norges Bank purchased a new stake in Fabrinet in the fourth quarter worth approximately $193,766,000. JPMorgan Chase & Co. grew its position in Fabrinet by 64.8% in the 4th quarter. JPMorgan Chase & Co. now owns 1,065,414 shares of the technology company's stock worth $485,063,000 after purchasing an additional 419,081 shares during the period. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in shares of Fabrinet by 183.5% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 333,555 shares of the technology company's stock valued at $121,621,000 after buying an additional 215,903 shares during the period. Hedge funds and other institutional investors own 97.38% of the company's stock.

Fabrinet Price Performance

Shares of NYSE:FN opened at $516.70 on Friday. The company has a market capitalization of $18.51 billion, a P/E ratio of 44.39 and a beta of 1.20. Fabrinet has a 1-year low of $272.49 and a 1-year high of $748.89. The firm's 50 day simple moving average is $584.60 and its two-hundred day simple moving average is $565.27.

Fabrinet (NYSE:FN - Get Free Report) last announced its quarterly earnings data on Monday, May 4th. The technology company reported $3.72 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.58 by $0.14. Fabrinet had a net margin of 9.94% and a return on equity of 19.83%. The firm had revenue of $1.21 billion during the quarter, compared to analysts' expectations of $1.19 billion. During the same period in the prior year, the company posted $2.52 earnings per share. The company's revenue for the quarter was up 39.3% compared to the same quarter last year. Fabrinet has set its Q4 2026 guidance at 3.720-3.870 EPS. On average, sell-side analysts anticipate that Fabrinet will post 12.97 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Homa Bahrami sold 2,500 shares of the business's 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 transaction, the director directly owned 16,233 shares of the company's stock, valued at approximately $11,556,435.03. The trade was a 13.35% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.24% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Needham & Company LLC reduced their price objective on Fabrinet from $800.00 to $650.00 and set a "buy" rating for the company in a research report on Wednesday. Zacks Research lowered shares of Fabrinet from a "strong-buy" rating to a "hold" rating in a research report on Monday, June 15th. Northland Securities set a $800.00 price objective on shares of Fabrinet in a research note on Monday, April 20th. Rosenblatt Securities raised their price objective on shares of Fabrinet from $715.00 to $750.00 and gave the stock a "buy" rating in a report on Tuesday, May 5th. 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 assigned a Hold rating to the company. According to data from MarketBeat, Fabrinet has a consensus rating of "Moderate Buy" and an average target price of $643.00.

Fabrinet 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.

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