Praxis Investment Management Inc. Invests $271,000 in Fabrinet $FN

Key Points

• Praxis Investment Management Inc. has invested $271,000 in Fabrinet by acquiring 920 shares, marking a significant addition to the company's shareholder activities in the second quarter.
• Fabrinet reported earnings of $2.65 per share for the last quarter, slightly exceeding analysts' expectations, with a 20.8% increase in revenue year-over-year.
• Analysts have generally rated Fabrinet positively, with several firms raising their price targets, reflecting a consensus rating of "Moderate Buy" and a price target of approximately $337.33.

Praxis Investment Management Inc. bought a new position in shares of Fabrinet (NYSE:FN - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 920 shares of the technology company's stock, valued at approximately $271,000.

Several other hedge funds have also made changes to their positions in the business. Curated Wealth Partners LLC acquired a new stake in shares of Fabrinet during the second quarter worth about $225,000. TD Asset Management Inc raised its holdings in Fabrinet by 25.4% during the second quarter. TD Asset Management Inc now owns 599,337 shares of the technology company's stock worth $176,613,000 after purchasing an additional 121,233 shares in the last quarter. Verdence Capital Advisors LLC purchased a new position in Fabrinet during the second quarter worth about $308,000. Envestnet Portfolio Solutions Inc. purchased a new position in Fabrinet during the second quarter worth about $221,000. Finally, Sequoia Financial Advisors LLC raised its holdings in Fabrinet by 34.4% during the second quarter. Sequoia Financial Advisors LLC now owns 2,033 shares of the technology company's stock worth $599,000 after purchasing an additional 520 shares in the last quarter. Institutional investors and hedge funds own 97.38% of the company's stock.

Fabrinet Trading Down 0.6%

Shares of Fabrinet stock opened at $410.16 on Friday. Fabrinet has a 12-month low of $148.55 and a 12-month high of $432.00. The stock has a market cap of $14.65 billion, a PE ratio of 44.68 and a beta of 1.05. The company has a 50-day moving average of $354.88 and a two-hundred day moving average of $285.61.

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

Insider Activity

In other news, EVP Edward T. Archer sold 3,333 shares of the firm's stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $354.48, for a total transaction of $1,181,481.84. Following the completion of the transaction, the executive vice president directly owned 6,644 shares of the company's stock, valued at $2,355,165.12. This trade represents a 33.41% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Seamus Grady sold 9,513 shares of the firm's stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $329.52, for a total transaction of $3,134,723.76. Following the transaction, the chief executive officer directly owned 46,024 shares of the company's stock, 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. Insiders have sold 27,049 shares of company stock worth $9,360,401 over the last ninety days. 0.38% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on FN. B. Riley increased their price target on shares of Fabrinet from $184.00 to $220.00 and gave the stock a "neutral" rating in a report on Tuesday, August 19th. JPMorgan Chase & Co. increased their price target on shares of Fabrinet from $345.00 to $430.00 and gave the stock an "overweight" rating in a report on Thursday. Weiss Ratings reissued a "buy (b-)" rating on shares of Fabrinet in a report on Wednesday, October 8th. Wolfe Research began coverage on shares of Fabrinet in a report on Tuesday, July 8th. They set a "peer perform" rating for the company. Finally, Needham & Company LLC reissued a "buy" rating and set a $350.00 price target on shares of Fabrinet in a report on Tuesday, August 19th. Five analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat.com, Fabrinet presently has an average rating of "Moderate Buy" and a consensus price target of $337.33.

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.

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