Balboa Wealth Partners Purchases New Position in Fabrinet $FN

Key Points

• Balboa Wealth Partners has acquired a new stake in Fabrinet, purchasing 843 shares valued at approximately $248,000 in the second quarter.
• Insider trading activity includes CEO Seamus Grady and COO Harpal Gill selling shares, reducing their positions by 17.13% and 50.39%, respectively.
• Analysts have a consensus rating of "Moderate Buy" for Fabrinet, with price targets ranging from $220.00 to $425.00.

Balboa Wealth Partners purchased a new stake in Fabrinet (NYSE:FN - Free Report) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor purchased 843 shares of the technology company's stock, valued at approximately $248,000.

Several other large investors have also recently added to or reduced their stakes in the stock. Baillie Gifford & Co. grew its stake in shares of Fabrinet by 16.5% during the first quarter. Baillie Gifford & Co. now owns 644,557 shares of the technology company's stock valued at $127,306,000 after acquiring an additional 91,519 shares in the last quarter. TD Asset Management Inc lifted its holdings in Fabrinet by 25.4% in the second quarter. TD Asset Management Inc now owns 599,337 shares of the technology company's stock worth $176,613,000 after acquiring an additional 121,233 shares during the last quarter. Epoch Investment Partners Inc. lifted its holdings in Fabrinet by 12.8% in the first quarter. Epoch Investment Partners Inc. now owns 389,247 shares of the technology company's stock worth $76,880,000 after acquiring an additional 44,182 shares during the last quarter. Analog Century Management LP lifted its holdings in Fabrinet by 3.8% in the first quarter. Analog Century Management LP now owns 328,725 shares of the technology company's stock worth $64,926,000 after acquiring an additional 12,063 shares during the last quarter. Finally, Nuveen LLC bought a new position in Fabrinet in the first quarter worth about $64,274,000. 97.38% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Fabrinet news, CEO Seamus Grady sold 9,513 shares of the business's stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $329.52, for a total transaction of $3,134,723.76. Following the completion of the transaction, the chief executive officer owned 46,024 shares of the company's stock, valued at $15,165,828.48. The trade was a 17.13% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Harpal Gill sold 14,203 shares of the business's stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $355.15, for a total transaction of $5,044,195.45. Following the transaction, the chief operating officer directly owned 13,983 shares of the company's stock, valued at approximately $4,966,062.45. This represents a 50.39% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 27,049 shares of company stock valued at $9,360,401 in the last quarter. Insiders own 0.38% of the company's stock.

Fabrinet Stock Up 2.0%

Shares of NYSE:FN opened at $415.87 on Wednesday. The firm has a fifty day moving average of $357.73 and a two-hundred day moving average of $288.95. The firm has a market capitalization of $14.86 billion, a P/E ratio of 45.30 and a beta of 1.05. Fabrinet has a 12-month low of $148.55 and a 12-month high of $432.00.

Fabrinet (NYSE:FN - Get Free Report) last issued its 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 company had revenue of $909.69 million during the quarter, compared to analyst estimates of $880.19 million. Fabrinet had a net margin of 9.72% and a return on equity of 17.77%. The company's revenue for the quarter was up 20.8% on a year-over-year basis. During the same quarter last year, the business posted $2.41 EPS. Fabrinet has set its Q1 2026 guidance at 2.750-2.900 EPS. Equities research analysts expect that Fabrinet will post 9.4 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. B. Riley lifted their price target on Fabrinet from $184.00 to $220.00 and gave the company a "neutral" rating in a report on Tuesday, August 19th. Weiss Ratings restated a "buy (b-)" rating on shares of Fabrinet in a research report on Wednesday, October 8th. Needham & Company LLC restated a "buy" rating and issued a $350.00 price target on shares of Fabrinet in a research report on Tuesday, August 19th. Barclays lifted their price objective on shares of Fabrinet from $234.00 to $329.00 and gave the stock an "equal weight" rating in a research report on Tuesday, August 19th. Finally, Rosenblatt Securities lifted their target price on shares of Fabrinet from $360.00 to $425.00 and gave the company a "buy" rating in a research note on Thursday, October 2nd. Five research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus 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.

Want to see what other hedge funds are holding FN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Fabrinet (NYSE:FN - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.