Royal Bank of Canada Sells 54,932 Shares of Fabrinet $FN

Royal Bank of Canada decreased its position in shares of Fabrinet (NYSE:FN - Free Report) by 34.7% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 103,518 shares of the technology company's stock after selling 54,932 shares during the quarter. Royal Bank of Canada owned about 0.29% of Fabrinet worth $20,445,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in FN. Private Trust Co. NA boosted its holdings in Fabrinet by 44.3% during the 1st quarter. Private Trust Co. NA now owns 166 shares of the technology company's stock worth $33,000 after acquiring an additional 51 shares during the last quarter. CreativeOne Wealth LLC boosted its holdings in Fabrinet by 4.9% during the 1st quarter. CreativeOne Wealth LLC now owns 1,148 shares of the technology company's stock worth $227,000 after acquiring an additional 54 shares during the last quarter. State of Alaska Department of Revenue boosted its holdings in Fabrinet by 1.7% during the 1st quarter. State of Alaska Department of Revenue now owns 4,205 shares of the technology company's stock worth $830,000 after acquiring an additional 70 shares during the last quarter. Henry James International Management Inc. boosted its holdings in Fabrinet by 5.6% during the 1st quarter. Henry James International Management Inc. now owns 1,317 shares of the technology company's stock worth $260,000 after acquiring an additional 70 shares during the last quarter. Finally, Illumine Investment Management LLC boosted its holdings in Fabrinet by 2.2% during the 1st quarter. Illumine Investment Management LLC now owns 3,461 shares of the technology company's stock worth $684,000 after acquiring an additional 75 shares during the last quarter. Institutional investors own 97.38% of the company's stock.

Fabrinet Trading Down 0.6%

Shares of NYSE:FN traded down $2.31 on Friday, reaching $359.85. 371,440 shares of the company traded hands, compared to its average volume of 731,565. The business's 50-day simple moving average is $320.95 and its 200 day simple moving average is $254.95. The stock has a market capitalization of $12.86 billion, a P/E ratio of 39.22 and a beta of 1.08. Fabrinet has a 52 week low of $148.55 and a 52 week high of $380.01.

Fabrinet (NYSE:FN - Get Free Report) last posted 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. The firm had revenue of $909.69 million during the quarter, compared to analyst estimates of $880.19 million. Fabrinet had a return on equity of 17.77% and a net margin of 9.72%.Fabrinet's quarterly revenue was up 20.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.41 EPS. Fabrinet has set its Q1 2026 guidance at 2.750-2.900 EPS. Sell-side analysts expect that Fabrinet will post 9.4 EPS for the current fiscal year.

Insider Transactions at Fabrinet

In other news, EVP Edward T. Archer sold 3,333 shares of Fabrinet 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 transaction, the executive vice president owned 6,644 shares of the company's stock, valued at $2,355,165.12. The trade was a 33.41% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Seamus Grady sold 9,513 shares of Fabrinet stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $329.52, for a total value of $3,134,723.76. Following the completion of the transaction, the chief executive officer directly owned 46,024 shares of the company's stock, valued at approximately $15,165,828.48. This represents a 17.13% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 27,049 shares of company stock valued at $9,360,401 in the last quarter. 0.38% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on FN. Zacks Research downgraded shares of Fabrinet from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 28th. JPMorgan Chase & Co. raised shares of Fabrinet from a "neutral" rating to an "overweight" rating and boosted their price target for the stock from $318.00 to $345.00 in a report on Monday, August 25th. Rosenblatt Securities restated a "buy" rating and issued a $360.00 price objective on shares of Fabrinet in a research note on Tuesday, August 19th. B. Riley upped their price target on Fabrinet from $184.00 to $220.00 and gave the company a "neutral" rating in a research report on Tuesday, August 19th. Finally, Wolfe Research initiated coverage on Fabrinet in a research report on Tuesday, July 8th. They set a "peer perform" rating on the stock. Four equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $312.33.

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.