Panagora Asset Management Inc. Has $20.36 Million Holdings in Fabrinet $FN

Key Points

• Panagora Asset Management Inc. has reduced its stake in Fabrinet by 32.9%, owning 103,062 shares after selling 50,622 shares in the first quarter.
• The company reported a 20.8% year-over-year revenue increase with quarterly revenue of $909.69 million and earnings per share of $2.65, beating estimates by $0.02.
• Fabrinet's stock currently has a consensus rating of "Moderate Buy" with an average target price of $312.33, reflecting positive sentiment among analysts.

Panagora Asset Management Inc. decreased its holdings in Fabrinet (NYSE:FN - Free Report) by 32.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 103,062 shares of the technology company's stock after selling 50,622 shares during the quarter. Panagora Asset Management Inc. owned about 0.29% of Fabrinet worth $20,356,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. First Trust Advisors LP grew its stake in Fabrinet by 96.0% in the 4th quarter. First Trust Advisors LP now owns 2,413 shares of the technology company's stock valued at $531,000 after acquiring an additional 1,182 shares during the last quarter. Susquehanna Fundamental Investments LLC acquired a new stake in Fabrinet in the fourth quarter valued at approximately $460,000. Quarry LP increased its stake in shares of Fabrinet by 315.8% in the fourth quarter. Quarry LP now owns 237 shares of the technology company's stock worth $52,000 after buying an additional 180 shares during the last quarter. Northern Trust Corp increased its stake in shares of Fabrinet by 14.6% in the fourth quarter. Northern Trust Corp now owns 499,356 shares of the technology company's stock worth $109,798,000 after buying an additional 63,686 shares during the last quarter. Finally, Lido Advisors LLC increased its stake in Fabrinet by 25.2% during the fourth quarter. Lido Advisors LLC now owns 1,161 shares of the technology company's stock valued at $255,000 after purchasing an additional 234 shares during the last quarter. 97.38% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

FN has been the subject of several analyst reports. Wolfe Research started coverage on shares of Fabrinet in a report on Tuesday, July 8th. They set a "peer perform" rating for the company. Barclays upped their target price on Fabrinet from $234.00 to $329.00 and gave the company an "equal weight" rating in a report on Tuesday, August 19th. Rosenblatt Securities reiterated a "buy" rating and set a $360.00 price target on shares of Fabrinet in a report on Tuesday, August 19th. B. Riley raised their price objective on shares of Fabrinet from $184.00 to $220.00 and gave the stock a "neutral" rating in a research note on Tuesday, August 19th. Finally, JPMorgan Chase & Co. raised 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 research report on Monday, August 25th. Four analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Fabrinet currently has an average rating of "Moderate Buy" and an average target price of $312.33.

Fabrinet Stock Performance

NYSE FN traded up $1.82 during trading on Wednesday, hitting $337.52. The stock had a trading volume of 498,055 shares, compared to its average volume of 735,241. Fabrinet has a 12 month low of $148.55 and a 12 month high of $360.00. The company has a market capitalization of $12.06 billion, a PE ratio of 36.77 and a beta of 1.08. The company's 50-day moving average price is $312.00 and its two-hundred day moving average price is $249.19.

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

Insider Buying and Selling at Fabrinet

In other Fabrinet news, CEO Seamus Grady sold 9,513 shares of the 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 transaction, the chief executive officer directly owned 46,024 shares in the company, valued at approximately $15,165,828.48. This trade represents a 17.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.38% of the stock is currently owned by corporate 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.