Sei Investments Co. Increases Holdings in Fabrinet $FN

Key Points

• Sei Investments Co. increased its Fabrinet stake by 22% in the first quarter, adding 16,218 shares to reach 89,843 shares valued at about $46.9 million.
• Fabrinet reported better-than-expected quarterly results, with EPS of $3.72 versus $3.58 expected and revenue of $1.21 billion, up 39.3% year over year.
• Analyst sentiment remains generally positive despite some downgrades: Fabrinet has a Moderate Buy consensus rating with a $643 average price target, while the stock was trading at $475.48 and down 8.2% in the session.

Sei Investments Co. raised its holdings in shares of Fabrinet (NYSE:FN - Free Report) by 22.0% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 89,843 shares of the technology company's stock after acquiring an additional 16,218 shares during the quarter. Sei Investments Co. owned approximately 0.25% of Fabrinet worth $46,854,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in FN. Swedbank AB purchased a new stake in shares of Fabrinet during the 4th quarter worth approximately $5,372,000. M&T Bank Corp grew its position in shares of Fabrinet by 196.5% in the 4th quarter. M&T Bank Corp now owns 2,345 shares of the technology company's stock valued at $1,068,000 after buying an additional 1,554 shares during the last quarter. JSF Financial LLC acquired a new stake in Fabrinet during the 4th quarter worth $957,000. Principal Financial Group Inc. raised its stake in Fabrinet by 4.0% during the 4th quarter. Principal Financial Group Inc. now owns 187,883 shares of the technology company's stock worth $85,539,000 after acquiring an additional 7,233 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in Fabrinet by 117.7% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,979 shares of the technology company's stock valued at $3,633,000 after acquiring an additional 4,314 shares during the last quarter. Hedge funds and other institutional investors own 97.38% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on FN shares. Fox Advisors lowered Fabrinet from a "strong-buy" rating to an "equal weight" rating in a report on Tuesday, May 5th. Weiss Ratings cut Fabrinet from a "buy (b)" rating to a "buy (b-)" rating in a research report on Tuesday, June 30th. Zacks Research downgraded Fabrinet from a "strong-buy" rating to a "hold" rating in a research note on Monday, June 15th. Barclays lifted their price target on Fabrinet from $548.00 to $702.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 5th. Finally, Northland Securities set a $800.00 price objective on Fabrinet in a research note on Monday, April 20th. Six equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $643.00.

Fabrinet Stock Down 8.2%

Shares of FN stock opened at $475.48 on Friday. The stock has a market capitalization of $17.04 billion, a PE ratio of 40.85 and a beta of 1.20. Fabrinet has a 52-week low of $272.49 and a 52-week high of $748.89. The stock's 50-day moving average price is $579.66 and its 200 day moving average price is $564.64.

Fabrinet (NYSE:FN - Get Free Report) last posted its quarterly earnings data on Monday, May 4th. The technology company reported $3.72 earnings per share for the quarter, topping analysts' consensus estimates of $3.58 by $0.14. The company had revenue of $1.21 billion during the quarter, compared to analysts' expectations of $1.19 billion. Fabrinet had a return on equity of 19.83% and a net margin of 9.94%.The firm's revenue for the quarter was up 39.3% on a year-over-year basis. During the same period last year, the firm earned $2.52 EPS. Fabrinet has set its Q4 2026 guidance at 3.720-3.870 EPS. Analysts expect that Fabrinet will post 12.97 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Homa Bahrami sold 2,500 shares of Fabrinet stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $711.91, for a total value of $1,779,775.00. Following the transaction, the director directly owned 16,233 shares in the company, valued at $11,556,435.03. This trade represents a 13.35% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.24% of the stock is currently owned by company insiders.

Fabrinet Profile

Fabrinet is a global provider of advanced optical packaging and precision optical, electro‐mechanical and electronic manufacturing services (CEM). The company specializes in complex manufacturing processes for original equipment manufacturers (OEMs) in communications, data center, industrial, instrumentation and medical markets. Key capabilities include high‐precision fiber alignment, micro‐assembly, testing and diagnostics, and integration of electro‐optic subassemblies.

Incorporated in 2000, Fabrinet operates under a corporate structure headquartered in Singapore with additional regional offices and design centers in the Americas, Europe and Asia.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.