Great Lakes Advisors LLC Cuts Position in Fabrinet $FN

Key Points

• Great Lakes Advisors LLC reduced its stake in Fabrinet by 31.5%, owning 4,489 shares after selling 2,069 shares in the first quarter, with their holdings valued at approximately $887,000.
• Fabrinet reported $2.65 earnings per share for the last quarter, surpassing estimates, and showed a 20.8% increase in revenue year-over-year.
• Several hedge funds have altered their positions in Fabrinet, with 97.38% of the stock now owned by institutional investors, indicating strong market interest.

Great Lakes Advisors LLC cut its stake in Fabrinet (NYSE:FN - Free Report) by 31.5% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,489 shares of the technology company's stock after selling 2,069 shares during the period. Great Lakes Advisors LLC's holdings in Fabrinet were worth $887,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Private Trust Co. NA grew its position in Fabrinet by 44.3% in the first quarter. Private Trust Co. NA now owns 166 shares of the technology company's stock worth $33,000 after acquiring an additional 51 shares in the last quarter. CreativeOne Wealth LLC grew its position in Fabrinet by 4.9% in the first quarter. CreativeOne Wealth LLC now owns 1,148 shares of the technology company's stock worth $227,000 after acquiring an additional 54 shares in the last quarter. State of Alaska Department of Revenue raised its position in 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 period. Henry James International Management Inc. raised its position in 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 period. Finally, Illumine Investment Management LLC raised its position in 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 period. 97.38% of the stock is currently owned by hedge funds and other institutional investors.

Fabrinet Trading Down 2.6%

FN stock opened at $362.97 on Friday. The firm's 50-day moving average price is $320.95 and its two-hundred day moving average price is $254.95. Fabrinet has a 12-month low of $148.55 and a 12-month high of $380.01. The stock has a market capitalization of $12.97 billion, a price-to-earnings ratio of 39.54 and a beta of 1.08.

Fabrinet (NYSE:FN - Get Free Report) last released 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. Fabrinet had a net margin of 9.72% and a return on equity of 17.77%. The firm 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 earned $2.41 earnings per share. The company's revenue for the quarter was up 20.8% compared to the same quarter last year. Fabrinet has set its Q1 2026 guidance at 2.750-2.900 EPS. Equities analysts predict that Fabrinet will post 9.4 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on FN shares. B. Riley lifted their target price on shares of Fabrinet from $184.00 to $220.00 and gave the stock a "neutral" rating in a research report on Tuesday, August 19th. Zacks Research cut shares of Fabrinet from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 28th. JPMorgan Chase & Co. upgraded shares of Fabrinet from a "neutral" rating to an "overweight" rating and lifted their target price for the stock from $318.00 to $345.00 in a research report on Monday, August 25th. Needham & Company LLC reiterated a "buy" rating and issued a $350.00 target price on shares of Fabrinet in a research report on Tuesday, August 19th. Finally, Barclays lifted their target price on shares of Fabrinet from $234.00 to $329.00 and gave the stock an "equal weight" rating in a research report on Tuesday, August 19th. Four 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, Fabrinet has a consensus rating of "Moderate Buy" and an average price target of $312.33.

Insider Buying and Selling at Fabrinet

In other Fabrinet news, CEO Seamus Grady sold 9,513 shares of the business's stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $329.52, for a total transaction of $3,134,723.76. Following the transaction, the chief executive officer directly owned 46,024 shares of the company's stock, valued at approximately $15,165,828.48. The trade was a 17.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Edward T. Archer sold 3,333 shares of the business's stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $354.48, for a total transaction of $1,181,481.84. Following the transaction, the executive vice president directly owned 6,644 shares in the company, valued at approximately $2,355,165.12. The trade was a 33.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 27,049 shares of company stock valued at $9,360,401. 0.38% of the stock is currently owned by company 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.

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