Herald Investment Management Ltd Trims Position in Fabrinet $FN

Key Points

• Herald Investment Management Ltd reduced its position in Fabrinet by 8.8% during the second quarter, owning 154,600 shares worth approximately $45.5 million.
• Insider sales included COO Harpal Gill selling 14,203 shares for about $5 million, and CEO Seamus Grady selling 9,513 shares for roughly $3.1 million, indicating notable decreases in their stake.
• Fabrinet's recent earnings exceeded expectations, reporting $2.65 earnings per share and a revenue of $909.69 million, showing a year-over-year revenue increase of 20.8%.

Herald Investment Management Ltd lowered its stake in Fabrinet (NYSE:FN - Free Report) by 8.8% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 154,600 shares of the technology company's stock after selling 14,900 shares during the period. Fabrinet accounts for approximately 6.8% of Herald Investment Management Ltd's holdings, making the stock its 2nd biggest holding. Herald Investment Management Ltd owned 0.43% of Fabrinet worth $45,517,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Wealth Enhancement Advisory Services LLC grew its stake in Fabrinet by 10.0% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 4,402 shares of the technology company's stock worth $968,000 after purchasing an additional 399 shares in the last quarter. Parallel Advisors LLC lifted its holdings in Fabrinet by 63.5% during the 1st quarter. Parallel Advisors LLC now owns 425 shares of the technology company's stock worth $84,000 after buying an additional 165 shares during the last quarter. Merit Financial Group LLC bought a new position in Fabrinet during the first quarter worth $254,000. UMB Bank n.a. lifted its position in shares of Fabrinet by 103.1% in the 1st quarter. UMB Bank n.a. now owns 398 shares of the technology company's stock worth $79,000 after buying an additional 202 shares during the last quarter. Finally, Bridge City Capital LLC boosted its stake in Fabrinet by 0.5% in the first quarter. Bridge City Capital LLC now owns 24,071 shares of the technology company's stock valued at $4,754,000 after acquiring an additional 114 shares during the period. Institutional investors and hedge funds own 97.38% of the company's stock.

Insiders Place Their Bets

In related news, COO Harpal Gill sold 14,203 shares of the firm's stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $355.15, for a total transaction of $5,044,195.45. Following the sale, the chief operating officer directly owned 13,983 shares in the company, valued at $4,966,062.45. This trade represents a 50.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Seamus Grady sold 9,513 shares of the business's stock in a transaction dated 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 completion of the sale, the chief executive officer owned 46,024 shares in the company, valued at approximately $15,165,828.48. This trade represents a 17.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 27,049 shares of company stock worth $9,360,401. Insiders own 0.38% of the company's stock.

Analyst Ratings Changes

FN has been the subject of a number of analyst reports. Rosenblatt Securities boosted their target price on shares of Fabrinet from $360.00 to $425.00 and gave the company a "buy" rating in a research note on Thursday. Zacks Research lowered Fabrinet from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 28th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Fabrinet in a report on Saturday, September 27th. Wolfe Research started coverage on shares of Fabrinet in a report on Tuesday, July 8th. They issued a "peer perform" rating for the company. Finally, B. Riley raised their target price on Fabrinet from $184.00 to $220.00 and gave the stock a "neutral" rating in a research report on Tuesday, August 19th. Five investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat, Fabrinet presently has a consensus rating of "Moderate Buy" and a consensus price target of $323.17.

Fabrinet Stock Down 1.0%

NYSE FN opened at $365.76 on Monday. The stock has a market cap of $13.07 billion, a P/E ratio of 39.84 and a beta of 1.05. Fabrinet has a twelve month low of $148.55 and a twelve month high of $397.26. The company's 50-day simple moving average is $343.23 and its 200 day simple moving average is $273.86.

Fabrinet (NYSE:FN - Get Free Report) last posted its quarterly earnings data on Monday, August 18th. The technology company reported $2.65 earnings per share 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 during the quarter, compared to analyst estimates of $880.19 million. During the same quarter last year, the business posted $2.41 earnings per share. The company's revenue was up 20.8% on a year-over-year basis. Fabrinet has set its Q1 2026 guidance at 2.750-2.900 EPS. Research analysts anticipate that Fabrinet will post 9.4 earnings per share for the current year.

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.

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