American Century Companies Inc. Acquires 2,253 Shares of Fabrinet $FN

Key Points

• American Century Companies Inc. increased its stake in Fabrinet by 10.9% during Q1, now holding approximately 22,980 shares valued at $4.54 million.
• Multiple hedge funds, including Nuveen LLC and GAMMA Investing LLC, have significantly increased their positions in Fabrinet, now collectively owning 97.38% of the company's stock.
• Fabrinet reported a 20.8% revenue growth year-over-year in its latest earnings release, beating estimates with a revenue of $909.69 million and an EPS of $2.65.

American Century Companies Inc. lifted its position in shares of Fabrinet (NYSE:FN - Free Report) by 10.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 22,980 shares of the technology company's stock after acquiring an additional 2,253 shares during the period. American Century Companies Inc. owned about 0.06% of Fabrinet worth $4,539,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Russell Investments Group Ltd. raised its position in shares of Fabrinet by 35.6% during the 1st quarter. Russell Investments Group Ltd. now owns 24,000 shares of the technology company's stock valued at $4,740,000 after acquiring an additional 6,303 shares in the last quarter. Motley Fool Asset Management LLC acquired a new stake in Fabrinet in the first quarter worth $4,511,000. Motley Fool Wealth Management LLC acquired a new stake in Fabrinet in the first quarter worth $9,501,000. Nuveen LLC acquired a new position in shares of Fabrinet during the first quarter valued at $64,274,000. Finally, Virtu Financial LLC acquired a new position in shares of Fabrinet during the first quarter valued at $349,000. 97.38% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

FN has been the subject of several research reports. Barclays raised their target price on Fabrinet from $234.00 to $329.00 and gave the company an "equal weight" rating in a research note on Tuesday, August 19th. Zacks Research cut Fabrinet from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 28th. JPMorgan Chase & Co. raised Fabrinet from a "neutral" rating to an "overweight" rating and raised their target price for the company from $318.00 to $345.00 in a research note on Monday, August 25th. Rosenblatt Securities reaffirmed a "buy" rating and set a $360.00 target price on shares of Fabrinet in a research note on Tuesday, August 19th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $350.00 target price on shares of Fabrinet in a research note on Tuesday, August 19th. Four equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, Fabrinet currently has a consensus rating of "Moderate Buy" and an average price target of $312.33.

Fabrinet Price Performance

Shares of FN stock traded up $24.30 during trading on Thursday, reaching $361.83. The company had a trading volume of 772,492 shares, compared to its average volume of 909,953. The firm's 50 day simple moving average is $313.25 and its two-hundred day simple moving average is $250.14. The company has a market capitalization of $12.93 billion, a PE ratio of 39.42 and a beta of 1.08. Fabrinet has a one year low of $148.55 and a one year high of $362.48.

Fabrinet (NYSE:FN - Get Free Report) last posted its quarterly earnings data on Monday, August 18th. The technology company reported $2.65 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 company had revenue of $909.69 million for the quarter, compared to analyst estimates of $880.19 million. During the same quarter in the previous year, the firm earned $2.41 earnings per share. The business's revenue was up 20.8% on a year-over-year basis. Fabrinet has set its Q1 2026 guidance at 2.750-2.900 EPS. Analysts forecast that Fabrinet will post 9.4 earnings per share for the current year.

Insider Activity at Fabrinet

In related news, CEO Seamus Grady sold 9,513 shares of the company's stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $329.52, for a total value of $3,134,723.76. Following the completion of the sale, the chief executive officer owned 46,024 shares in the company, valued at approximately $15,165,828.48. This represents a 17.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, COO Harpal Gill sold 14,203 shares of the company's stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $355.15, for a total value of $5,044,195.45. Following the completion of the sale, the chief operating officer owned 13,983 shares of the company's stock, valued at $4,966,062.45. This represents a 50.39% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 27,049 shares of company stock worth $9,360,401. 0.38% of the stock is owned by insiders.

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.