Ieq Capital LLC Boosts Stock Position in Fabrinet $FN

Key Points

• Ieq Capital LLC significantly increased its stake in Fabrinet by 272.9%, acquiring 3,122 additional shares to bring its total holdings to 4,266 shares worth $843,000.
• CEO Seamus Grady sold 9,513 shares at an average price of $329.52, which represented a 17.13% decrease in his ownership, leaving him with 46,024 shares valued at approximately $15.17 million.
• Fabrinet reported earnings of $2.65 per share for the latest quarter, surpassing estimates and achieving a year-over-year revenue growth of 20.8%, totaling $909.69 million.

Ieq Capital LLC boosted its position in Fabrinet (NYSE:FN - Free Report) by 272.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,266 shares of the technology company's stock after buying an additional 3,122 shares during the period. Ieq Capital LLC's holdings in Fabrinet were worth $843,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Private Trust Co. NA raised its position in Fabrinet by 44.3% in the 1st quarter. Private Trust Co. NA now owns 166 shares of the technology company's stock valued at $33,000 after buying an additional 51 shares during the last quarter. State of Alaska Department of Revenue increased its holdings in Fabrinet by 1.7% during the 1st quarter. State of Alaska Department of Revenue now owns 4,205 shares of the technology company's stock worth $830,000 after acquiring an additional 70 shares during the period. Henry James International Management Inc. increased its holdings in Fabrinet by 5.6% during the 1st quarter. Henry James International Management Inc. now owns 1,317 shares of the technology company's stock worth $260,000 after acquiring an additional 70 shares during the period. Illumine Investment Management LLC grew its holdings in shares of Fabrinet by 2.2% during the first 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 in the last quarter. Finally, Signaturefd LLC grew its holdings in shares of Fabrinet by 14.3% during the first quarter. Signaturefd LLC now owns 609 shares of the technology company's stock worth $120,000 after purchasing an additional 76 shares in the last quarter. 97.38% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on FN shares. JPMorgan Chase & Co. raised Fabrinet from a "neutral" rating to an "overweight" rating and boosted their price objective for the stock from $318.00 to $345.00 in a report on Monday, August 25th. Wolfe Research initiated coverage on Fabrinet in a research report on Tuesday, July 8th. They issued a "peer perform" rating for the company. B. Riley boosted 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. Rosenblatt Securities reiterated a "buy" rating and issued a $360.00 price objective on shares of Fabrinet in a research report on Tuesday, August 19th. Finally, Barclays boosted their price objective on Fabrinet from $234.00 to $329.00 and gave the company 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. Based on data from MarketBeat, Fabrinet presently has a consensus rating of "Moderate Buy" and a consensus target price of $312.33.

Fabrinet Stock Up 2.1%

Shares of NYSE:FN traded up $7.44 on Friday, hitting $369.60. 914,614 shares of the company traded hands, compared to its average volume of 914,497. Fabrinet has a 52 week low of $148.55 and a 52 week high of $377.56. The stock has a 50 day simple moving average of $314.73 and a 200-day simple moving average of $251.12. The company has a market cap of $13.21 billion, a PE ratio of 40.26 and a beta of 1.08.

Fabrinet (NYSE:FN - Get Free Report) last issued its quarterly earnings results on Monday, August 18th. The technology company reported $2.65 earnings per share for the quarter, beating the consensus estimate 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 the consensus estimate of $880.19 million. During the same period last year, the company earned $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. As a group, sell-side analysts anticipate that Fabrinet will post 9.4 earnings per share for the current year.

Insider Transactions at Fabrinet

In other news, EVP Edward T. Archer sold 3,333 shares of the firm's stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $354.48, for a total value of $1,181,481.84. Following the transaction, the executive vice president owned 6,644 shares of the company's stock, valued at $2,355,165.12. This trade represents a 33.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Seamus Grady sold 9,513 shares of the firm's stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $329.52, for a total value of $3,134,723.76. Following the completion of the transaction, the chief executive officer directly owned 46,024 shares in the company, valued at $15,165,828.48. This trade represents a 17.13% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 27,049 shares of company stock valued at $9,360,401 over the last quarter. 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.