HighTower Advisors LLC Has $470,000 Stake in Fabrinet $FN

Key Points

• HighTower Advisors LLC reduced its stake in Fabrinet (NYSE:FN) by 68.0%, holding only 2,381 shares valued at approximately $470,000 after selling off 5,050 shares.
• Various institutional investors increased their holdings in Fabrinet, including First Trust Advisors LP, which boosted its stake by 96.0%, bringing its total shares to 2,413, valued at about $531,000.
• Fabrinet reported a 20.8% year-over-year revenue increase, generating $909.69 million in revenue and $2.65 EPS for the quarter, exceeding consensus estimates.

HighTower Advisors LLC cut its holdings in shares of Fabrinet (NYSE:FN - Free Report) by 68.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,381 shares of the technology company's stock after selling 5,050 shares during the quarter. HighTower Advisors LLC's holdings in Fabrinet were worth $470,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Cetera Investment Advisers grew its position in shares of Fabrinet by 11.6% in the first quarter. Cetera Investment Advisers now owns 13,212 shares of the technology company's stock valued at $2,610,000 after purchasing an additional 1,368 shares during the period. Atria Wealth Solutions Inc. increased its holdings in Fabrinet by 40.8% in the first quarter. Atria Wealth Solutions Inc. now owns 5,457 shares of the technology company's stock valued at $1,078,000 after buying an additional 1,582 shares during the last quarter. Private Trust Co. NA boosted its holdings in Fabrinet by 44.3% in 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 in the last quarter. Deutsche Bank AG boosted its holdings in shares of Fabrinet by 13.9% in the 1st quarter. Deutsche Bank AG now owns 51,549 shares of the technology company's stock valued at $10,181,000 after buying an additional 6,272 shares in the last quarter. Finally, KBC Group NV boosted its stake in Fabrinet by 12.1% in the first quarter. KBC Group NV now owns 1,594 shares of the technology company's stock valued at $315,000 after acquiring an additional 172 shares in the last quarter. Institutional investors and hedge funds own 97.38% of the company's stock.

Fabrinet Stock Performance

Shares of NYSE FN traded down $1.18 during midday trading on Wednesday, hitting $334.52. The company's stock had a trading volume of 242,738 shares, compared to its average volume of 733,609. The firm has a market cap of $11.95 billion, a P/E ratio of 36.42 and a beta of 1.08. The firm's fifty day moving average price is $310.99 and its 200-day moving average price is $248.57. Fabrinet has a 1-year low of $148.55 and a 1-year high of $360.00.

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 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 quarter in the previous year, the company posted $2.41 EPS. The business's 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. As a group, research analysts predict that Fabrinet will post 9.4 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Fabrinet news, CEO Seamus Grady sold 9,513 shares of the firm's stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $329.52, for a total value of $3,134,723.76. Following the sale, the chief executive officer directly owned 46,024 shares in the company, valued at $15,165,828.48. This trade represents a 17.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.38% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on FN. Wolfe Research began coverage on shares of Fabrinet in a research note on Tuesday, July 8th. They set a "peer perform" rating on the stock. Needham & Company LLC restated a "buy" rating and set a $350.00 target price on shares of Fabrinet in a research report on Tuesday, August 19th. Zacks Research downgraded shares of Fabrinet from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 28th. JPMorgan Chase & Co. upgraded Fabrinet from a "neutral" rating to an "overweight" rating and raised their price objective for the stock from $318.00 to $345.00 in a report on Monday, August 25th. Finally, Rosenblatt Securities reaffirmed a "buy" rating and set a $360.00 price target on shares of Fabrinet in a research report on Tuesday, August 19th. Four equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $312.33.

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.