Fabrinet $FN Shares Sold by Aberdeen Group plc

Key Points

• Aberdeen Group plc reduced its stake in Fabrinet by 1.5%, owning 128,684 shares valued at approximately $37.9 million following the sale.
• Analysts are optimistic about Fabrinet, with many raising their price targets; recent reports indicate targets as high as $350.00 with a consensus rating of "Moderate Buy".
• Fabrinet recently exceeded quarterly earnings expectations, reporting \strong>$2.65 EPS against an estimate of $2.63, and saw a 20.8% year-over-year revenue growth with $909.69 million in revenue.

Aberdeen Group plc lowered its stake in shares of Fabrinet (NYSE:FN - Free Report) by 1.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 128,684 shares of the technology company's stock after selling 2,024 shares during the period. Aberdeen Group plc owned 0.36% of Fabrinet worth $37,921,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Baillie Gifford & Co. increased its stake 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 valued at $127,306,000 after acquiring an additional 91,519 shares during the last quarter. TD Asset Management Inc lifted its holdings in shares of Fabrinet by 17.8% during the 1st quarter. TD Asset Management Inc now owns 478,104 shares of the technology company's stock worth $94,430,000 after acquiring an additional 72,385 shares during the period. Epoch Investment Partners Inc. lifted its holdings in shares of Fabrinet by 12.8% during the 1st 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 period. Analog Century Management LP lifted its holdings in shares of Fabrinet by 3.8% during the 1st 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 period. Finally, Nuveen LLC purchased a new position in shares of Fabrinet during the 1st quarter worth about $64,274,000. 97.38% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

FN has been the topic of several recent analyst reports. B. Riley increased their price objective on shares of Fabrinet from $184.00 to $220.00 and gave the stock a "neutral" rating in a report on Tuesday, August 19th. Barclays increased their price objective 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. Needham & Company LLC reiterated a "buy" rating and set a $350.00 price objective on shares of Fabrinet in a report on Tuesday, August 19th. Wolfe Research initiated coverage on shares of Fabrinet in a report on Tuesday, July 8th. They set a "peer perform" rating on the stock. Finally, JPMorgan Chase & Co. upgraded shares of Fabrinet from a "neutral" rating to an "overweight" rating and increased their price objective for the stock from $318.00 to $345.00 in a report on Monday, August 25th. Five investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $323.17.

Fabrinet Price Performance

NYSE FN opened at $362.92 on Monday. The firm has a market capitalization of $12.97 billion, a P/E ratio of 39.53 and a beta of 1.05. Fabrinet has a 1-year low of $148.55 and a 1-year high of $397.26. The business's 50-day simple moving average is $348.70 and its 200-day simple moving average is $279.31.

Fabrinet (NYSE:FN - Get Free Report) last announced its 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 the consensus estimate of $880.19 million. Fabrinet had a return on equity of 17.77% and a net margin of 9.72%.The company's revenue was up 20.8% on a year-over-year basis. During the same period last year, the business posted $2.41 EPS. 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 EPS for the current fiscal year.

Insider Activity at Fabrinet

In related news, COO Harpal Gill sold 14,203 shares of the firm's stock in a transaction dated 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 sale, the chief operating officer directly owned 13,983 shares in the company, valued at approximately $4,966,062.45. This trade represents a 50.39% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Edward T. Archer sold 3,333 shares of the firm's stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $354.48, for a total value 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. The trade was a 33.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 27,049 shares of company stock worth $9,360,401. 0.38% of the stock is currently owned by company 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.

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