Raymond James Financial Inc. Sells 17,561 Shares of Fabrinet $FN

Key Points

• Raymond James Financial Inc. reduced its stake in Fabrinet by 15.5%, now owning approximately 0.27% of the company, valued at about $18.8 million.
• Fabrinet reported a quarterly revenue of $909.69 million, exceeding analyst estimates of $880.19 million, with a 20.8% increase compared to the same quarter last year.
• Analysts have set a consensus target price of $312.33 for Fabrinet, with ratings ranging from "Buy" to "Hold" from various research firms.

Raymond James Financial Inc. cut its holdings in shares of Fabrinet (NYSE:FN - Free Report) by 15.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 95,432 shares of the technology company's stock after selling 17,561 shares during the period. Raymond James Financial Inc. owned approximately 0.27% of Fabrinet worth $18,849,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the business. Cetera Investment Advisers lifted its stake in Fabrinet by 11.6% during the 1st quarter. Cetera Investment Advisers now owns 13,212 shares of the technology company's stock valued at $2,610,000 after acquiring an additional 1,368 shares during the period. Atria Wealth Solutions Inc. raised its holdings in shares of Fabrinet by 40.8% during the first quarter. Atria Wealth Solutions Inc. now owns 5,457 shares of the technology company's stock valued at $1,078,000 after purchasing an additional 1,582 shares during the last quarter. Private Trust Co. NA lifted its position in Fabrinet by 44.3% during the first quarter. Private Trust Co. NA now owns 166 shares of the technology company's stock valued at $33,000 after purchasing an additional 51 shares during the period. Deutsche Bank AG boosted its holdings in Fabrinet by 13.9% in the first 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 last quarter. Finally, KBC Group NV boosted its holdings in Fabrinet by 12.1% in the first 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 last quarter. Hedge funds and other institutional investors own 97.38% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. B. Riley boosted their target price on shares of Fabrinet from $184.00 to $220.00 and gave the company a "neutral" rating in a research note on Tuesday, August 19th. Barclays upped their price objective on Fabrinet from $234.00 to $329.00 and gave the company an "equal weight" rating in a research report on Tuesday, August 19th. Rosenblatt Securities reissued a "buy" rating and issued a $360.00 target price on shares of Fabrinet in a research report on Tuesday, August 19th. JPMorgan Chase & Co. upgraded Fabrinet from a "neutral" rating to an "overweight" rating and boosted their price target for the company from $318.00 to $345.00 in a research note on Monday, August 25th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $350.00 price target on shares of Fabrinet in a research report on Tuesday, August 19th. Four research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $312.33.

Fabrinet Stock Performance

Shares of NYSE FN traded down $24.12 during trading on Monday, hitting $330.93. The company had a trading volume of 1,004,118 shares, compared to its average volume of 913,902. Fabrinet has a 12 month low of $148.55 and a 12 month high of $360.00. The firm has a market capitalization of $11.82 billion, a P/E ratio of 36.05 and a beta of 1.08. The stock has a 50 day simple moving average of $308.61 and a 200 day simple moving average of $247.21.

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, beating analysts' consensus estimates of $2.63 by $0.02. The company had revenue of $909.69 million during 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 firm's revenue was up 20.8% on a year-over-year basis. During the same period in the previous year, the company posted $2.41 EPS. Fabrinet has set its Q1 2026 guidance at 2.750-2.900 EPS. As a group, analysts predict that Fabrinet will post 9.4 EPS for the current year.

Insider Activity

In other news, COO Harpal Gill sold 18,675 shares of the stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $240.00, for a total value of $4,482,000.00. Following the completion of the sale, the chief operating officer directly owned 18,068 shares of the company's stock, valued at $4,336,320. This represents a 50.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.38% of the stock is currently owned by company insiders.

Fabrinet Company 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.