Sumitomo Mitsui Trust Group Inc. Purchases 2,248 Shares of Fabrinet $FN

Sumitomo Mitsui Trust Group Inc. lifted its position in shares of Fabrinet (NYSE:FN - Free Report) by 341.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,906 shares of the technology company's stock after buying an additional 2,248 shares during the quarter. Sumitomo Mitsui Trust Group Inc.'s holdings in Fabrinet were worth $1,516,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in FN. Core Wealth Advisors LLC purchased a new stake in Fabrinet in the fourth quarter worth about $25,000. Westend Capital Management LLC purchased a new position in Fabrinet during the 4th quarter valued at about $29,000. Harbour Investments Inc. increased its position in Fabrinet by 75.0% during the 4th quarter. Harbour Investments Inc. now owns 63 shares of the technology company's stock valued at $29,000 after purchasing an additional 27 shares during the period. Creative Financial Designs Inc. ADV bought a new stake in shares of Fabrinet in the 4th quarter valued at about $32,000. Finally, Quarry LP raised its holdings in shares of Fabrinet by 300.0% in the 4th quarter. Quarry LP now owns 72 shares of the technology company's stock valued at $33,000 after purchasing an additional 54 shares in the last quarter. Hedge funds and other institutional investors own 97.38% of the company's stock.

Insider Activity

In other news, Director Homa Bahrami sold 2,500 shares of the company's stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $711.91, for a total transaction of $1,779,775.00. Following the transaction, the director directly owned 16,233 shares of the company's stock, valued at approximately $11,556,435.03. This represents a 13.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.24% of the company's stock.

Fabrinet Stock Up 1.0%

Shares of Fabrinet stock opened at $487.42 on Thursday. The firm's 50 day moving average price is $604.21 and its 200-day moving average price is $563.94. Fabrinet has a 52-week low of $272.49 and a 52-week high of $748.89. The company has a market cap of $17.46 billion, a P/E ratio of 41.87 and a beta of 1.20.

Fabrinet (NYSE:FN - Get Free Report) last posted its quarterly earnings data on Monday, May 4th. The technology company reported $3.72 EPS for the quarter, topping the consensus estimate of $3.58 by $0.14. Fabrinet had a net margin of 9.94% and a return on equity of 19.83%. The firm had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same quarter in the previous year, the business posted $2.52 EPS. Fabrinet's revenue was up 39.3% on a year-over-year basis. Fabrinet has set its Q4 2026 guidance at 3.720-3.870 EPS. As a group, equities research analysts forecast that Fabrinet will post 12.96 EPS for the current fiscal year.

Analyst Ratings Changes

FN has been the topic of several research reports. Zacks Research lowered shares of Fabrinet from a "strong-buy" rating to a "hold" rating in a report on Monday, June 15th. Northland Securities set a $800.00 target price on Fabrinet in a report on Monday, April 20th. Rosenblatt Securities increased their target price on Fabrinet from $715.00 to $750.00 and gave the company a "buy" rating in a research report on Tuesday, May 5th. Needham & Company LLC reiterated a "buy" rating and issued a $800.00 price target on shares of Fabrinet in a report on Tuesday, May 5th. Finally, JPMorgan Chase & Co. reduced their price target on Fabrinet from $700.00 to $680.00 and set a "neutral" rating for the company in a research report on Tuesday, May 5th. Six research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $661.75.

Fabrinet Company 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.

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