Lord Abbett & CO. LLC Sells 49,434 Shares of Fabrinet $FN

Key Points

• Lord Abbett & CO. LLC sold 38.5% of its holdings in Fabrinet, reducing its shares to approximately 78,965, equating to a value of about $15.6 million.
• Other institutions, such as Baillie Gifford & Co. and TD Asset Management Inc., increased their stakes in Fabrinet, indicating strong institutional interest in the company.
• Fabrinet's stock has shown a price increase of 2.5% recently, with a current market price around $330.06, and analysts have mixed ratings with a general consensus of a "Hold."

Lord Abbett & CO. LLC lessened its stake in shares of Fabrinet (NYSE:FN - Free Report) by 38.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 78,965 shares of the technology company's stock after selling 49,434 shares during the period. Lord Abbett & CO. LLC owned about 0.22% of Fabrinet worth $15,596,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of FN. Banque Cantonale Vaudoise acquired a new stake in Fabrinet during the 1st quarter worth about $29,000. Wayfinding Financial LLC acquired a new stake in Fabrinet during the 1st quarter worth about $30,000. Berbice Capital Management LLC acquired a new stake in Fabrinet during the 1st quarter worth about $30,000. Private Trust Co. NA raised its holdings in 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 buying an additional 51 shares during the period. Finally, SBI Securities Co. Ltd. raised its holdings in Fabrinet by 93.5% during the 1st quarter. SBI Securities Co. Ltd. now owns 180 shares of the technology company's stock worth $36,000 after buying an additional 87 shares during the period. Institutional investors and hedge funds own 97.38% of the company's stock.

Analyst Upgrades and Downgrades

FN has been the topic of several recent analyst reports. Barclays boosted their price objective on Fabrinet from $234.00 to $329.00 and gave the stock an "equal weight" rating in a report on Tuesday. Needham & Company LLC reiterated a "buy" rating and issued a $350.00 target price on shares of Fabrinet in a report on Tuesday. B. Riley upped their target price on Fabrinet from $184.00 to $220.00 and gave the company a "neutral" rating in a report on Tuesday. Rosenblatt Securities reiterated a "buy" rating and issued a $360.00 target price on shares of Fabrinet in a report on Tuesday. Finally, JPMorgan Chase & Co. upped their target price on Fabrinet from $235.00 to $318.00 and gave the company a "neutral" rating in a report on Thursday, July 17th. Three 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.com, the stock currently has an average rating of "Hold" and a consensus target price of $307.83.

Insider Activity at Fabrinet

In related news, COO Harpal Gill sold 18,675 shares of the business's stock in a transaction that occurred 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 completion of 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 sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.38% of the company's stock.

Fabrinet Stock Performance

Shares of NYSE FN traded down $41.6530 during trading hours on Tuesday, hitting $285.4670. The stock had a trading volume of 2,104,531 shares, compared to its average volume of 722,221. The company has a market capitalization of $10.23 billion, a P/E ratio of 31.79 and a beta of 1.02. The firm's 50-day moving average price is $298.58 and its two-hundred day moving average price is $241.11. Fabrinet has a 52 week low of $148.55 and a 52 week high of $356.55.

Fabrinet (NYSE:FN - Get Free Report) last announced its quarterly earnings results on Monday, August 18th. The technology company reported $2.65 EPS for the quarter, beating the consensus estimate of $2.63 by $0.02. The business had revenue of $909.69 million during the quarter, compared to analysts' expectations of $880.19 million. Fabrinet had a return on equity of 17.99% and a net margin of 10.00%.The firm's quarterly revenue was up 20.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.41 EPS. Fabrinet has set its Q1 2026 guidance at 2.750-2.900 EPS. As a group, analysts expect that Fabrinet will post 9.4 EPS for the current fiscal year.

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.