Fabrinet $FN Holdings Decreased by Price T Rowe Associates Inc. MD

Key Points

• Price T Rowe Associates Inc. MD reduced its stake in Fabrinet by 3.7%, ending the first quarter with 411,189 shares valued at approximately $81.2 million.
• Several institutional investors showed significant activity, with Nuveen LLC acquiring a new position worth $64.3 million and GAMMA Investing LLC increasing its stake by over 18,800% during the same period.
• Analysts have varying outlooks for Fabrinet, with price targets ranging from $220.00 to $350.00, contributing to an overall average target price of $312.33 and a rating of "Moderate Buy."

Price T Rowe Associates Inc. MD reduced its position in shares of Fabrinet (NYSE:FN - Free Report) by 3.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 411,189 shares of the technology company's stock after selling 15,597 shares during the period. Price T Rowe Associates Inc. MD owned 1.15% of Fabrinet worth $81,215,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Capital Fund Management S.A. lifted its position in Fabrinet by 32.7% during the first quarter. Capital Fund Management S.A. now owns 89,426 shares of the technology company's stock worth $17,663,000 after buying an additional 22,047 shares during the period. Brooklyn Investment Group grew its stake in shares of Fabrinet by 1,818.8% in the first quarter. Brooklyn Investment Group now owns 614 shares of the technology company's stock valued at $121,000 after buying an additional 582 shares in the last quarter. Algert Global LLC grew its stake in shares of Fabrinet by 14.2% in the first quarter. Algert Global LLC now owns 63,149 shares of the technology company's stock valued at $12,473,000 after buying an additional 7,853 shares in the last quarter. Cresset Asset Management LLC grew its stake in shares of Fabrinet by 6.0% in the first quarter. Cresset Asset Management LLC now owns 37,459 shares of the technology company's stock valued at $7,399,000 after buying an additional 2,132 shares in the last quarter. Finally, Nations Financial Group Inc. IA ADV grew its stake in Fabrinet by 15.9% during the 1st quarter. Nations Financial Group Inc. IA ADV now owns 3,408 shares of the technology company's stock valued at $673,000 after purchasing an additional 467 shares in the last quarter. 97.38% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, COO Harpal Gill sold 18,675 shares of Fabrinet stock in a transaction on 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 transaction, the chief operating officer directly owned 18,068 shares in the company, valued at $4,336,320. The trade was a 50.83% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.38% of the stock is owned by insiders.

Fabrinet Price Performance

Shares of NYSE FN traded down $24.12 during mid-day trading on Friday, hitting $330.93. The company had a trading volume of 1,004,118 shares, compared to its average volume of 736,666. The stock has a market cap of $11.82 billion, a price-to-earnings ratio of 36.05 and a beta of 1.02. Fabrinet has a 12 month low of $148.55 and a 12 month high of $360.00. The firm's 50 day simple moving average is $307.31 and its two-hundred day simple moving average is $245.89.

Fabrinet (NYSE:FN - Get Free Report) last announced its 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. The firm had revenue of $909.69 million for the quarter, compared to the consensus estimate of $880.19 million. Fabrinet had a return on equity of 17.77% and a net margin of 9.72%.The firm's revenue for the quarter was up 20.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.41 EPS. Fabrinet has set its Q1 2026 guidance at 2.750-2.900 EPS. Equities analysts forecast that Fabrinet will post 9.4 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on FN. Rosenblatt Securities restated a "buy" rating and set a $360.00 price objective on shares of Fabrinet in a research note on Tuesday, August 19th. JPMorgan Chase & Co. raised Fabrinet from a "neutral" rating to an "overweight" rating and increased their target price for the stock from $318.00 to $345.00 in a report on Monday. Barclays increased their target price on Fabrinet from $234.00 to $329.00 and gave the stock an "equal weight" rating in a report on Tuesday, August 19th. B. Riley increased their target price on Fabrinet from $184.00 to $220.00 and gave the stock a "neutral" rating in a report on Tuesday, August 19th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $350.00 target price on shares of Fabrinet in a report on Tuesday, August 19th. Four equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat, Fabrinet presently has an average rating of "Moderate Buy" and an average target price of $312.33.

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.