Northern Trust Corp Sells 13,126 Shares of Fabrinet $FN

Key Points

• Northern Trust Corp has reduced its stake in Fabrinet by 2.6%, selling 13,126 shares and now holding approximately 1.36% of the company, valued at $96 million.
• Fabrinet recently reported a quarterly earnings per share of $2.65, surpassing analyst expectations and showing a 20.8% year-over-year revenue increase.
• Analysts generally have a mixed outlook on Fabrinet, with a consensus rating of "Hold" and price targets ranging from $220 to $360.

Northern Trust Corp decreased its position in Fabrinet (NYSE:FN - Free Report) by 2.6% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 486,230 shares of the technology company's stock after selling 13,126 shares during the period. Northern Trust Corp owned about 1.36% of Fabrinet worth $96,035,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Banque Cantonale Vaudoise bought a new stake in shares of Fabrinet during the first quarter valued at approximately $29,000. Berbice Capital Management LLC acquired a new stake in Fabrinet during the first quarter worth $30,000. Wayfinding Financial LLC bought a new stake in Fabrinet in the 1st quarter valued at $30,000. Private Trust Co. NA increased its holdings 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 period. Finally, SBI Securities Co. Ltd. raised its stake in shares of Fabrinet by 93.5% in the 1st 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 in the last quarter. Institutional investors own 97.38% of the company's stock.

Insider Buying and Selling at Fabrinet

In related news, COO Harpal Gill sold 18,675 shares of Fabrinet stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $240.00, for a total value of $4,482,000.00. Following the completion of the transaction, the chief operating officer directly owned 18,068 shares of the company's stock, valued at $4,336,320. The trade was a 50.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.38% of the company's stock.

Fabrinet Trading Up 6.1%

NYSE:FN opened at $294.05 on Friday. The stock has a market capitalization of $10.51 billion, a P/E ratio of 32.03 and a beta of 1.02. Fabrinet has a 1 year low of $148.55 and a 1 year high of $356.55. The firm has a 50 day moving average of $301.66 and a 200-day moving average of $242.83.

Fabrinet (NYSE:FN - Get Free Report) last released its quarterly earnings results on Monday, August 18th. The technology company reported $2.65 earnings per share 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 analysts' expectations of $880.19 million. During the same period last year, the firm posted $2.41 EPS. The business'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, analysts forecast that Fabrinet will post 9.4 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Needham & Company LLC reiterated a "buy" rating and set a $350.00 target price on shares of Fabrinet in a research report on Tuesday, August 19th. B. Riley lifted their price objective on Fabrinet from $184.00 to $220.00 and gave the company a "neutral" rating in a 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 note on Tuesday, August 19th. Wolfe Research assumed coverage on Fabrinet in a report on Tuesday, July 8th. They issued a "peer perform" rating for the company. Finally, Barclays boosted their price target on Fabrinet from $234.00 to $329.00 and gave the company an "equal weight" rating in a research note on Tuesday. Three investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $307.83.

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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