Fabrinet $FN Shares Sold by State of New Jersey Common Pension Fund D

Key Points

• The State of New Jersey Common Pension Fund D reduced its stake in Fabrinet shares by 8.5% in the first quarter, now holding 12,488 shares valued at approximately $2.47 million.
• Fabrinet recently reported $2.65 EPS for the quarter, exceeding analyst expectations, with a revenue of $909.69 million, a 20.8% increase year-over-year.
• Institutional investors and hedge funds own around 97.38% of Fabrinet's stock, indicating strong institutional backing amidst market activities.

State of New Jersey Common Pension Fund D decreased its position in Fabrinet (NYSE:FN - Free Report) by 8.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,488 shares of the technology company's stock after selling 1,153 shares during the quarter. State of New Jersey Common Pension Fund D's holdings in Fabrinet were worth $2,467,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in FN. Private Trust Co. NA lifted its holdings in shares of Fabrinet by 44.3% in 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 last quarter. State of Alaska Department of Revenue lifted its holdings in shares of Fabrinet by 1.7% in the 1st quarter. State of Alaska Department of Revenue now owns 4,205 shares of the technology company's stock worth $830,000 after purchasing an additional 70 shares during the last quarter. Henry James International Management Inc. lifted its holdings in shares of Fabrinet by 5.6% in the 1st quarter. Henry James International Management Inc. now owns 1,317 shares of the technology company's stock worth $260,000 after purchasing an additional 70 shares during the last quarter. Illumine Investment Management LLC lifted its holdings in shares of Fabrinet by 2.2% in the 1st quarter. Illumine Investment Management LLC now owns 3,461 shares of the technology company's stock worth $684,000 after purchasing an additional 75 shares during the last quarter. Finally, Signaturefd LLC lifted its holdings in shares of Fabrinet by 14.3% in the 1st quarter. Signaturefd LLC now owns 609 shares of the technology company's stock worth $120,000 after purchasing an additional 76 shares during the last quarter. Institutional investors and hedge funds own 97.38% of the company's stock.

Insider Activity at Fabrinet

In other news, COO Harpal Gill sold 18,675 shares of the business's stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $240.00, for a total value of $4,482,000.00. Following the sale, the chief operating officer owned 18,068 shares of the company's stock, valued at approximately $4,336,320. The trade was a 50.83% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.38% of the company's stock.

Fabrinet Trading Down 1.3%

Fabrinet stock opened at $276.6630 on Friday. The stock has a market cap of $9.89 billion, a price-to-earnings ratio of 30.14 and a beta of 1.02. The company's 50-day moving average price is $300.68 and its two-hundred day moving average price is $242.03. Fabrinet has a 52 week low of $148.55 and a 52 week high of $356.55.

Fabrinet (NYSE:FN - Get Free Report) last posted its quarterly earnings data on Monday, August 18th. The technology company reported $2.65 EPS for the quarter, topping analysts' consensus estimates 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 the consensus estimate of $880.19 million. During the same quarter in the previous year, the business earned $2.41 EPS. The company's quarterly revenue was up 20.8% compared to the same quarter last year. Fabrinet has set its Q1 2026 guidance at 2.750-2.900 EPS. Research analysts expect that Fabrinet will post 9.4 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Rosenblatt Securities reissued a "buy" rating and issued a $360.00 price target on shares of Fabrinet in a report on Tuesday. Needham & Company LLC reissued a "buy" rating and issued a $350.00 price target on shares of Fabrinet in a report on Tuesday. B. Riley increased their price target on Fabrinet from $184.00 to $220.00 and gave the stock a "neutral" rating in a research note on Tuesday. Wolfe Research started coverage on Fabrinet in a report on Tuesday, July 8th. They set a "peer perform" rating on the stock. Finally, Barclays lifted their price objective on shares of Fabrinet from $234.00 to $329.00 and gave the company an "equal weight" rating in a research note on Tuesday. Three equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $307.83.

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.

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