Russell Investments Group Ltd. Increases Stock Position in Fabrinet $FN

Key Points

• Russell Investments Group Ltd. increased its stake in Fabrinet by 35.6% during the first quarter, owning 24,000 shares valued at approximately $4.74 million after acquiring an additional 6,303 shares.
• Fabrinet's recent quarterly earnings exceeded expectations, reporting an EPS of $2.65 against a forecast of $2.63 and a revenue of $909.69 million compared to anticipated $880.19 million.
• Several analysts have upgraded their price targets for Fabrinet's shares, with Barclays raising it from $234.00 to $329.00, reflecting increased confidence in the company's stock performance.

Russell Investments Group Ltd. lifted its stake in shares of Fabrinet (NYSE:FN - Free Report) by 35.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,000 shares of the technology company's stock after acquiring an additional 6,303 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.07% of Fabrinet worth $4,740,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in FN. Banque Cantonale Vaudoise bought a new position in shares of Fabrinet during the first quarter worth about $29,000. Wayfinding Financial LLC bought a new stake in shares of Fabrinet during the 1st quarter valued at about $30,000. Berbice Capital Management LLC bought a new stake in shares of Fabrinet during the 1st quarter valued at about $30,000. Private Trust Co. NA boosted its position in shares of Fabrinet by 44.3% during the 1st quarter. Private Trust Co. NA now owns 166 shares of the technology company's stock valued at $33,000 after purchasing an additional 51 shares in the last quarter. Finally, SBI Securities Co. Ltd. boosted its position in shares of Fabrinet by 93.5% during the 1st quarter. SBI Securities Co. Ltd. now owns 180 shares of the technology company's stock valued at $36,000 after purchasing an additional 87 shares in the last quarter. 97.38% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Fabrinet

In other news, COO Harpal Gill sold 18,675 shares of the firm's stock in a transaction that occurred 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 owned 18,068 shares in the company, valued at $4,336,320. This trade represents a 50.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.38% of the stock is owned by corporate insiders.

Fabrinet Stock Performance

Fabrinet stock traded up $17.89 during mid-day trading on Monday, reaching $312.24. The stock had a trading volume of 888,551 shares, compared to its average volume of 727,552. Fabrinet has a fifty-two week low of $148.55 and a fifty-two week high of $356.55. The stock's 50-day simple moving average is $301.66 and its 200-day simple moving average is $242.98. The firm has a market capitalization of $11.16 billion, a PE ratio of 34.01 and a beta of 1.02.

Fabrinet (NYSE:FN - Get Free Report) last announced its quarterly earnings data on Monday, August 18th. The technology company reported $2.65 EPS 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 quarter last year, the firm posted $2.41 earnings per share. The company's revenue for the quarter 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, research analysts forecast that Fabrinet will post 9.4 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on FN shares. Barclays upped their target price on Fabrinet from $234.00 to $329.00 and gave the company an "equal weight" rating in a research report on Tuesday, August 19th. Wolfe Research started coverage on shares of Fabrinet in a research note on Tuesday, July 8th. They set a "peer perform" rating on the stock. Rosenblatt Securities reissued a "buy" rating and set a $360.00 target price on shares of Fabrinet in a research note on Tuesday, August 19th. Needham & Company LLC reissued a "buy" rating and set a $350.00 target price on shares of Fabrinet in a research note on Tuesday, August 19th. Finally, JPMorgan Chase & Co. raised shares of 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 research note on Monday. Four investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, Fabrinet currently has a consensus rating of "Moderate Buy" and an average target price of $312.33.

Fabrinet 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.