Congress Asset Management Co. Decreases Stock Holdings in Fabrinet $FN

Key Points

• Congress Asset Management Co. significantly reduced its stake in Fabrinet by 80.2%, holding only 1,120 shares after selling 4,533 shares in the second quarter.
• Several institutional investors including Baillie Gifford & Co. and TD Asset Management Inc. increased their positions in Fabrinet during the same period, indicating strong interest from other market players.
• Analysts have mixed views on Fabrinet, with a consensus rating of "Moderate Buy" and a price target of approximately $312.33, reflecting varied expectations for the stock's future performance.

Congress Asset Management Co. lowered its position in shares of Fabrinet (NYSE:FN - Free Report) by 80.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,120 shares of the technology company's stock after selling 4,533 shares during the period. Congress Asset Management Co.'s holdings in Fabrinet were worth $330,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Baillie Gifford & Co. increased its holdings in shares of Fabrinet by 16.5% during the 1st quarter. Baillie Gifford & Co. now owns 644,557 shares of the technology company's stock worth $127,306,000 after buying an additional 91,519 shares during the last quarter. TD Asset Management Inc increased its holdings in Fabrinet by 17.8% in the 1st quarter. TD Asset Management Inc now owns 478,104 shares of the technology company's stock valued at $94,430,000 after purchasing an additional 72,385 shares during the last quarter. Epoch Investment Partners Inc. increased its holdings in Fabrinet by 12.8% in the 1st quarter. Epoch Investment Partners Inc. now owns 389,247 shares of the technology company's stock valued at $76,880,000 after purchasing an additional 44,182 shares during the last quarter. Analog Century Management LP increased its holdings in Fabrinet by 3.8% in the 1st quarter. Analog Century Management LP now owns 328,725 shares of the technology company's stock valued at $64,926,000 after purchasing an additional 12,063 shares during the last quarter. Finally, Nuveen LLC acquired a new stake in Fabrinet in the 1st quarter valued at approximately $64,274,000. Institutional investors and hedge funds own 97.38% of the company's stock.

Analyst Ratings Changes

Several research firms recently weighed in on FN. Needham & Company LLC reiterated a "buy" rating and issued a $350.00 target price on shares of Fabrinet in a report on Tuesday, August 19th. B. Riley lifted their target price on shares of Fabrinet from $184.00 to $220.00 and gave the company a "neutral" rating in a report on Tuesday, August 19th. Zacks Research downgraded shares of Fabrinet from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 28th. Wolfe Research started coverage on shares of Fabrinet in a report on Tuesday, July 8th. They issued a "peer perform" rating for the company. Finally, Barclays boosted their price target on shares of Fabrinet from $234.00 to $329.00 and gave the stock an "equal weight" rating in a research note on Tuesday, August 19th. Four analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $312.33.

Insider Activity

In related news, EVP Edward T. Archer sold 3,333 shares of the firm's stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $354.48, for a total transaction of $1,181,481.84. Following the sale, the executive vice president owned 6,644 shares in the company, valued at approximately $2,355,165.12. This trade represents a 33.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Seamus Grady sold 9,513 shares of Fabrinet 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 in the company, valued at approximately $15,165,828.48. This trade represents a 17.13% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 27,049 shares of company stock worth $9,360,401 over the last ninety days. 0.38% of the stock is currently owned by insiders.

Fabrinet Stock Down 0.1%

NYSE FN opened at $360.66 on Friday. Fabrinet has a 52-week low of $148.55 and a 52-week high of $397.26. The stock has a market capitalization of $12.89 billion, a P/E ratio of 39.29 and a beta of 1.08. The firm has a 50-day moving average price of $337.08 and a 200 day moving average price of $268.49.

Fabrinet (NYSE:FN - Get Free Report) last released its quarterly earnings results on Monday, August 18th. The technology company reported $2.65 EPS for the quarter, beating the consensus estimate of $2.63 by $0.02. The business had revenue of $909.69 million for 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 quarterly revenue was up 20.8% on a year-over-year basis. During the same period in the prior year, the business earned $2.41 earnings per share. Fabrinet has set its Q1 2026 guidance at 2.750-2.900 EPS. On average, equities research analysts expect that Fabrinet will post 9.4 earnings per share for the current fiscal year.

Fabrinet 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.

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