Great Lakes Advisors LLC Makes New Investment in Fabrinet $FN

Key Points

• Great Lakes Advisors initiated a Fabrinet position in the second quarter, buying 5,380 shares valued at approximately $3.0 million. Institutional investors collectively own 97.38% of the company.
• Analyst sentiment remains positive overall, with six Buy ratings and four Holds, producing a “Moderate Buy” consensus and an average price target of $649.50.
• Fabrinet exceeded quarterly expectations, reporting $4.10 in EPS versus the $3.81 consensus and $1.32 billion in revenue, up 44.6% year over year. Shares opened at $444.54, well below their 12-month high of $748.89.

Great Lakes Advisors LLC bought a new position in Fabrinet (NYSE:FN - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 5,380 shares of the technology company's stock, valued at approximately $3,024,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Core Wealth Advisors LLC purchased a new position in Fabrinet during the fourth quarter worth about $25,000. Harbour Investments Inc. increased its position in Fabrinet by 75.0% during the 4th quarter. Harbour Investments Inc. now owns 63 shares of the technology company's stock worth $29,000 after purchasing an additional 27 shares during the period. Cassaday & Co Wealth Management LLC acquired a new position in Fabrinet during the 1st quarter worth approximately $31,000. Creative Financial Designs Inc. ADV purchased a new position in shares of Fabrinet during the 4th quarter worth approximately $32,000. Finally, Quarry LP lifted its holdings in shares of Fabrinet by 300.0% in the 4th quarter. Quarry LP now owns 72 shares of the technology company's stock valued at $33,000 after buying an additional 54 shares during the period. Hedge funds and other institutional investors own 97.38% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Rosenblatt Securities reiterated a "buy" rating and issued a $750.00 price objective on shares of Fabrinet in a research report on Tuesday. Weiss Ratings cut shares of Fabrinet from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Wednesday, August 12th. JPMorgan Chase & Co. increased their price target on shares of Fabrinet from $680.00 to $695.00 and gave the company a "neutral" rating in a report on Tuesday. Needham & Company LLC reiterated a "buy" rating and issued a $650.00 price objective on shares of Fabrinet in a research note on Tuesday. Finally, Wall Street Zen downgraded shares of Fabrinet from a "buy" rating to a "hold" rating in a report on Monday, July 20th. Six investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, Fabrinet has an average rating of "Moderate Buy" and a consensus price target of $649.50.

Fabrinet Price Performance

FN stock opened at $444.54 on Friday. The company's 50 day simple moving average is $519.11 and its 200-day simple moving average is $568.63. The firm has a market capitalization of $15.93 billion, a PE ratio of 34.06 and a beta of 1.23. Fabrinet has a 12 month low of $272.49 and a 12 month high of $748.89.

Fabrinet (NYSE:FN - Get Free Report) last issued its quarterly earnings data on Monday, August 17th. The technology company reported $4.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.81 by $0.29. Fabrinet had a return on equity of 21.23% and a net margin of 10.19%.The firm had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.28 billion. During the same period in the previous year, the firm posted $2.65 EPS. The company's quarterly revenue was up 44.6% compared to the same quarter last year. Fabrinet has set its Q1 2027 guidance at 4.100-4.250 EPS. As a group, sell-side analysts anticipate that Fabrinet will post 16.46 earnings per share for the current year.

Fabrinet Company Profile

Fabrinet is a global provider of advanced optical packaging and precision optical, electro‐mechanical and electronic manufacturing services (CEM). The company specializes in complex manufacturing processes for original equipment manufacturers (OEMs) in communications, data center, industrial, instrumentation and medical markets. Key capabilities include high‐precision fiber alignment, micro‐assembly, testing and diagnostics, and integration of electro‐optic subassemblies.

Incorporated in 2000, Fabrinet operates under a corporate structure headquartered in Singapore with additional regional offices and design centers in the Americas, Europe and Asia.

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