Fabrinet $FN Shares Sold by MetLife Investment Management LLC

Key Points

• MetLife Investment Management LLC has reduced its stake in Fabrinet by 3.0%, bringing its total ownership to 40,537 shares, valued at approximately $8 million.
• Fabrinet reported earnings of $2.65 per share for the last quarter, exceeding analyst expectations and marking a 20.8% increase in revenue compared to the previous year.
• Major analysts have upgraded their price targets for Fabrinet, with Needham & Company setting a target of $350.00 and JPMorgan Chase increasing it to $345.00.

MetLife Investment Management LLC cut its stake in shares of Fabrinet (NYSE:FN - Free Report) by 3.0% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 40,537 shares of the technology company's stock after selling 1,238 shares during the quarter. MetLife Investment Management LLC owned about 0.11% of Fabrinet worth $8,006,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Cetera Investment Advisers grew its stake in shares of Fabrinet by 11.6% during the 1st quarter. Cetera Investment Advisers now owns 13,212 shares of the technology company's stock worth $2,610,000 after purchasing an additional 1,368 shares during the period. Atria Wealth Solutions Inc. grew its stake in shares of Fabrinet by 40.8% during the 1st quarter. Atria Wealth Solutions Inc. now owns 5,457 shares of the technology company's stock worth $1,078,000 after purchasing an additional 1,582 shares during the period. Private Trust Co. NA grew its stake in shares of Fabrinet by 44.3% during the 1st quarter. Private Trust Co. NA now owns 166 shares of the technology company's stock worth $33,000 after purchasing an additional 51 shares during the period. Deutsche Bank AG grew its stake in shares of Fabrinet by 13.9% during the 1st quarter. Deutsche Bank AG now owns 51,549 shares of the technology company's stock worth $10,181,000 after purchasing an additional 6,272 shares during the period. Finally, KBC Group NV grew its stake in shares of Fabrinet by 12.1% during the 1st quarter. KBC Group NV now owns 1,594 shares of the technology company's stock worth $315,000 after purchasing an additional 172 shares during the period. 97.38% of the stock is owned by institutional investors and hedge funds.

Fabrinet Price Performance

Fabrinet stock opened at $332.12 on Thursday. Fabrinet has a 12-month low of $148.55 and a 12-month high of $356.55. The stock has a market capitalization of $11.87 billion, a P/E ratio of 36.18 and a beta of 1.02. The firm's 50-day moving average is $305.50 and its two-hundred day moving average is $244.89.

Fabrinet (NYSE:FN - Get Free Report) last released its quarterly earnings results on Monday, August 18th. The technology company reported $2.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.63 by $0.02. Fabrinet had a net margin of 9.72% and a return on equity of 17.77%. The company had revenue of $909.69 million for the quarter, compared to analysts' expectations of $880.19 million. During the same period last year, the company earned $2.41 EPS. The firm's revenue for the quarter was up 20.8% compared to the same quarter last year. Fabrinet has set its Q1 2026 guidance at 2.750-2.900 EPS. As a group, analysts forecast that Fabrinet will post 9.4 EPS for the current year.

Insider Activity

In other Fabrinet news, COO Harpal Gill sold 18,675 shares of the firm's stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $240.00, for a total transaction of $4,482,000.00. Following the sale, the chief operating officer directly owned 18,068 shares of the company's stock, valued at $4,336,320. This trade represents a 50.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.38% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Needham & Company LLC reiterated a "buy" rating and issued a $350.00 price objective on shares of Fabrinet in a research report on Tuesday, August 19th. B. Riley boosted their price objective on shares of Fabrinet from $184.00 to $220.00 and gave the stock a "neutral" rating in a research report on Tuesday, August 19th. Wolfe Research assumed coverage on shares of Fabrinet in a research report on Tuesday, July 8th. They issued a "peer perform" rating on the stock. Barclays boosted 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, JPMorgan Chase & Co. upgraded shares of Fabrinet from a "neutral" rating to an "overweight" rating and boosted their price objective for the stock from $318.00 to $345.00 in a research report on Monday. Four analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Fabrinet currently has an average rating of "Moderate Buy" and an average price target of $312.33.

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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