Harbor Capital Advisors Inc. Acquires 2,623 Shares of Fabrinet $FN

Key Points

• Harbor Capital Advisors Inc. increased its stake in Fabrinet by 19.4% during Q2, bringing its holdings to 16,149 shares valued at approximately $4.76 million.
• The technology company reported a 20.8% year-over-year increase in quarterly revenue at $909.69 million, surpassing analyst estimates and achieving an EPS of $2.65.
• Fabrinet has received mixed ratings from analysts, with a consensus average rating of "Moderate Buy" and a price target around $312.33.

Harbor Capital Advisors Inc. grew its position in shares of Fabrinet (NYSE:FN - Free Report) by 19.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 16,149 shares of the technology company's stock after purchasing an additional 2,623 shares during the quarter. Harbor Capital Advisors Inc.'s holdings in Fabrinet were worth $4,759,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Banque Cantonale Vaudoise purchased a new position in shares of Fabrinet during the 1st quarter valued at $29,000. Berbice Capital Management LLC purchased a new position in Fabrinet in the first quarter worth about $30,000. Wayfinding Financial LLC bought a new stake in Fabrinet during the first quarter valued at about $30,000. Private Trust Co. NA grew its position in shares of Fabrinet by 44.3% during 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. Finally, SBI Securities Co. Ltd. boosted its position in shares of Fabrinet by 93.5% during the first quarter. SBI Securities Co. Ltd. now owns 180 shares of the technology company's stock valued at $36,000 after buying an additional 87 shares during the period. 97.38% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Fabrinet news, CEO Seamus Grady sold 9,513 shares of the company's stock in a transaction dated 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 in the company, valued at approximately $15,165,828.48. This represents a 17.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Harpal Gill sold 14,203 shares of the stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $355.15, for a total transaction of $5,044,195.45. Following the transaction, the chief operating officer directly owned 13,983 shares in the company, valued at approximately $4,966,062.45. This represents a 50.39% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 27,049 shares of company stock valued at $9,360,401 over the last quarter. 0.38% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have commented on FN shares. B. Riley upped their price target on shares of Fabrinet from $184.00 to $220.00 and gave the company a "neutral" rating in a report on Tuesday, August 19th. Wolfe Research started coverage on shares of Fabrinet in a research report on Tuesday, July 8th. They issued a "peer perform" rating for the company. JPMorgan Chase & Co. upgraded shares of Fabrinet from a "neutral" rating to an "overweight" rating and lifted their price objective for the company from $318.00 to $345.00 in a research note on Monday, August 25th. Barclays upped 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. Finally, Needham & Company LLC reissued a "buy" rating and set a $350.00 price objective on shares of Fabrinet in a research note on Tuesday, August 19th. Four research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $312.33.

Fabrinet Stock Performance

Shares of NYSE:FN traded up $5.58 during midday trading on Friday, reaching $383.59. 988,146 shares of the company's stock traded hands, compared to its average volume of 779,392. Fabrinet has a one year low of $148.55 and a one year high of $384.48. The company has a market cap of $13.71 billion, a price-to-earnings ratio of 41.79 and a beta of 1.08. The stock has a 50 day moving average of $330.20 and a 200 day moving average of $262.29.

Fabrinet (NYSE:FN - Get Free Report) last announced its quarterly earnings results 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 return on equity of 17.77% and a net margin of 9.72%.The firm had revenue of $909.69 million during the quarter, compared to analyst estimates of $880.19 million. During the same quarter in the previous year, the business earned $2.41 earnings per share. Fabrinet's quarterly revenue was up 20.8% on a year-over-year basis. Fabrinet has set its Q1 2026 guidance at 2.750-2.900 EPS. Sell-side analysts predict 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.