Mirae Asset Global Investments Co. Ltd. Buys 4,314 Shares of Fabrinet $FN

Key Points

• Mirae Asset Global Investments raised its stake in Fabrinet by 117.7%, buying 4,314 shares to hold 7,979 shares worth $3.633 million at the end of the quarter.
• Fabrinet is highly institutionally owned (97.38%), with major investors—Vanguard, Wasatch, Invesco, JPMorgan and AllianceBernstein—making sizable increases to their positions.
• Fabrinet beat Q4 expectations with $3.36 EPS (vs. $3.26) and $1.13B revenue (up 35.9% YoY); analysts are mixed but the consensus is a “Moderate Buy” with an average price target of $587.50, and the stock trades near $694 (PE 66.46).

Mirae Asset Global Investments Co. Ltd. lifted its stake in Fabrinet (NYSE:FN - Free Report) by 117.7% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,979 shares of the technology company's stock after purchasing an additional 4,314 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Fabrinet were worth $3,633,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. boosted its position in shares of Fabrinet by 1.4% in the 3rd quarter. Vanguard Group Inc. now owns 4,135,345 shares of the technology company's stock worth $1,507,829,000 after purchasing an additional 59,002 shares during the last quarter. Wasatch Advisors LP boosted its position in shares of Fabrinet by 45.1% in the 2nd quarter. Wasatch Advisors LP now owns 1,779,665 shares of the technology company's stock worth $524,432,000 after purchasing an additional 553,196 shares during the last quarter. Invesco Ltd. boosted its position in shares of Fabrinet by 33.3% in the 3rd quarter. Invesco Ltd. now owns 681,850 shares of the technology company's stock worth $248,616,000 after purchasing an additional 170,297 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of Fabrinet by 1.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 646,333 shares of the technology company's stock worth $235,666,000 after purchasing an additional 10,621 shares during the last quarter. Finally, Alliancebernstein L.P. boosted its position in shares of Fabrinet by 226.1% in the 3rd quarter. Alliancebernstein L.P. now owns 499,177 shares of the technology company's stock worth $182,010,000 after purchasing an additional 346,113 shares during the last quarter. 97.38% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently commented on FN shares. Needham & Company LLC reaffirmed a "buy" rating and set a $540.00 price objective on shares of Fabrinet in a research note on Tuesday, February 3rd. JPMorgan Chase & Co. downgraded Fabrinet from an "overweight" rating to a "neutral" rating and raised their price objective for the stock from $530.00 to $700.00 in a research note on Thursday, April 16th. Zacks Research downgraded Fabrinet from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 6th. B. Riley Financial raised their price objective on Fabrinet from $366.00 to $452.00 and gave the stock a "neutral" rating in a research note on Tuesday, February 3rd. Finally, Weiss Ratings downgraded Fabrinet from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Wednesday, April 8th. Five analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $587.50.

Fabrinet Trading Down 0.9%

Shares of Fabrinet stock opened at $693.89 on Wednesday. The company has a market capitalization of $24.86 billion, a PE ratio of 66.46 and a beta of 1.04. Fabrinet has a 12 month low of $174.06 and a 12 month high of $732.12. The stock's fifty day simple moving average is $562.37 and its 200 day simple moving average is $489.99.

Fabrinet (NYSE:FN - Get Free Report) last issued its quarterly earnings data on Monday, February 2nd. The technology company reported $3.36 EPS for the quarter, topping the consensus estimate of $3.26 by $0.10. Fabrinet had a return on equity of 18.69% and a net margin of 9.69%.The business had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.08 billion. During the same quarter last year, the business posted $2.61 EPS. The firm's revenue was up 35.9% compared to the same quarter last year. Fabrinet has set its Q3 2026 guidance at 3.450-3.600 EPS. Analysts predict that Fabrinet will post 12.73 EPS for the current fiscal year.

About Fabrinet

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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