Fabrinet $FN Shares Acquired by Wedge Capital Management L L P NC

Key Points

• Wedge Capital Management increased its stake in Fabrinet by 3.9% during the second quarter, now owning 264,680 shares valued at around $78 million, making it the firm's largest holding.
• Analysts have a consensus rating of "Moderate Buy" for Fabrinet, with a target price averaging $312.33, after several firms raised their price targets based on recent performance.
• Fabrinet reported a 20.8% year-over-year revenue increase for its last quarter, with earnings per share of $2.65, surpassing expectations and setting guidance for future quarters between 2.750-2.900 EPS.

Wedge Capital Management L L P NC increased its position in Fabrinet (NYSE:FN - Free Report) by 3.9% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 264,680 shares of the technology company's stock after purchasing an additional 10,003 shares during the period. Fabrinet accounts for about 1.4% of Wedge Capital Management L L P NC's investment portfolio, making the stock its biggest holding. Wedge Capital Management L L P NC owned about 0.74% of Fabrinet worth $77,996,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of FN. Royal Bank of Canada grew its stake in Fabrinet by 28.2% in the fourth quarter. Royal Bank of Canada now owns 158,450 shares of the technology company's stock worth $34,840,000 after purchasing an additional 34,828 shares in the last quarter. State of Wyoming grew its stake in Fabrinet by 68.7% in the fourth quarter. State of Wyoming now owns 1,117 shares of the technology company's stock worth $246,000 after purchasing an additional 455 shares in the last quarter. Two Sigma Advisers LP lifted its holdings in Fabrinet by 8.6% in the fourth quarter. Two Sigma Advisers LP now owns 3,800 shares of the technology company's stock worth $836,000 after acquiring an additional 300 shares during the last quarter. Vident Advisory LLC lifted its holdings in Fabrinet by 154.4% in the fourth quarter. Vident Advisory LLC now owns 3,238 shares of the technology company's stock worth $712,000 after acquiring an additional 1,965 shares during the last quarter. Finally, Woodline Partners LP lifted its holdings in Fabrinet by 298.8% in the fourth quarter. Woodline Partners LP now owns 43,329 shares of the technology company's stock worth $9,527,000 after acquiring an additional 32,465 shares during the last quarter. 97.38% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Rosenblatt Securities reissued a "buy" rating and issued a $360.00 target price on shares of Fabrinet in a report on Tuesday, August 19th. Wolfe Research assumed coverage on shares of Fabrinet in a report on Tuesday, July 8th. They issued a "peer perform" rating on the stock. JPMorgan Chase & Co. raised shares of Fabrinet from a "neutral" rating to an "overweight" rating and raised their target price for the stock from $318.00 to $345.00 in a report on Monday, August 25th. B. Riley raised their target price on shares of Fabrinet from $184.00 to $220.00 and gave the stock a "neutral" rating in a report on Tuesday, August 19th. Finally, Barclays raised their target price on shares of Fabrinet from $234.00 to $329.00 and gave the stock an "equal weight" rating in a report on Tuesday, August 19th. Four investment 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 stock presently has a consensus rating of "Moderate Buy" and an average price target of $312.33.

Insider Activity

In other news, EVP Edward T. Archer sold 3,333 shares of the business's stock in a transaction 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 transaction, the executive vice president directly owned 6,644 shares in the company, valued at $2,355,165.12. The trade was a 33.41% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 transaction, 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 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

NYSE FN opened at $383.59 on Friday. The stock has a market capitalization of $13.71 billion, a P/E ratio of 41.79 and a beta of 1.08. Fabrinet has a 1 year low of $148.55 and a 1 year high of $384.48. The business's fifty day moving average is $330.20 and its two-hundred day moving average is $261.84.

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, beating the consensus estimate 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 analysts' expectations of $880.19 million. During the same quarter in the prior year, the company earned $2.41 earnings per share. The firm'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. On average, research analysts forecast that Fabrinet will post 9.4 earnings per share for the current 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.

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.