Penobscot Investment Management Company Inc. Increases Holdings in Fabrinet $FN

Key Points

• Penobscot Investment Management Company Inc. has increased its holdings in Fabrinet by 159.0% during the 2nd quarter, now owning 3,030 shares valued at approximately $893,000.
• Insider selling occurred recently, with notable sales including 3,333 shares by EVP Edward T. Archer and 14,203 shares by COO Harpal Gill, representing significant decreases of 33.41% and 50.39% in their respective positions.
• Fabrinet's recent earnings report exceeded analyst expectations, with $2.65 earnings per share against a consensus estimate of $2.63, and a 20.8% increase in revenue compared to the prior year.

Penobscot Investment Management Company Inc. increased its stake in Fabrinet (NYSE:FN - Free Report) by 159.0% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,030 shares of the technology company's stock after purchasing an additional 1,860 shares during the quarter. Penobscot Investment Management Company Inc.'s holdings in Fabrinet were worth $893,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in FN. Wealth Enhancement Advisory Services LLC grew its position in shares of Fabrinet by 10.0% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 4,402 shares of the technology company's stock valued at $968,000 after purchasing an additional 399 shares in the last quarter. Parallel Advisors LLC grew its position in shares of Fabrinet by 63.5% in the first quarter. Parallel Advisors LLC now owns 425 shares of the technology company's stock valued at $84,000 after purchasing an additional 165 shares in the last quarter. Rhumbline Advisers grew its position in shares of Fabrinet by 1.3% in the first quarter. Rhumbline Advisers now owns 113,377 shares of the technology company's stock valued at $22,393,000 after purchasing an additional 1,443 shares in the last quarter. NBC Securities Inc. grew its position in shares of Fabrinet by 163,200.0% in the first quarter. NBC Securities Inc. now owns 1,633 shares of the technology company's stock valued at $322,000 after purchasing an additional 1,632 shares in the last quarter. Finally, Merit Financial Group LLC purchased a new position in shares of Fabrinet in the first quarter valued at $254,000. 97.38% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Edward T. Archer sold 3,333 shares of the business'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 completion of the sale, the executive vice president owned 6,644 shares of the company's stock, valued at approximately $2,355,165.12. The trade was a 33.41% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Harpal Gill sold 14,203 shares of the business's stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $355.15, for a total value of $5,044,195.45. Following the completion of the sale, the chief operating officer directly owned 13,983 shares of the company's stock, valued at approximately $4,966,062.45. This trade represents a 50.39% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 27,049 shares of company stock valued at $9,360,401. Insiders own 0.38% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on FN shares. JPMorgan Chase & Co. upgraded Fabrinet from a "neutral" rating to an "overweight" rating and lifted their price target for the company from $318.00 to $345.00 in a research report on Monday, August 25th. 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. Wolfe Research began coverage on Fabrinet in a research report on Tuesday, July 8th. They set a "peer perform" rating for the company. Rosenblatt Securities boosted their target price on Fabrinet from $360.00 to $425.00 and gave the stock a "buy" rating in a research report on Thursday. Finally, Barclays boosted their target price on Fabrinet from $234.00 to $329.00 and gave the stock an "equal weight" rating in a research report on Tuesday, August 19th. Five equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $323.17.

Fabrinet Stock Down 1.0%

Shares of FN stock opened at $365.76 on Friday. The business has a 50-day moving average price of $343.23 and a two-hundred day moving average price of $273.50. Fabrinet has a 12-month low of $148.55 and a 12-month high of $397.26. The firm has a market cap of $13.07 billion, a P/E ratio of 39.84 and a beta of 1.05.

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 (EPS) for the quarter, topping 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 analyst estimates of $880.19 million. During the same quarter in the previous year, the company posted $2.41 earnings per share. The company's revenue was up 20.8% compared to the same quarter last year. Fabrinet has set its Q1 2026 guidance at 2.750-2.900 EPS. As a group, research analysts expect that Fabrinet will post 9.4 EPS for the current fiscal 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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