Teacher Retirement System of Texas Sells 4,195 Shares of Fabrinet $FN

Key Points

• Teacher Retirement System of Texas sold 4,195 shares, reducing its Fabrinet stake by 38.8% to 6,628 shares valued at $3.018 million at quarter-end.
• Fabrinet beat estimates with quarterly EPS of $3.36 (vs. $3.26 expected) and revenue of $1.13B (up 35.9% YoY), and issued Q3 2026 guidance of $3.45–$3.60 EPS.
• The stock has a market cap of $24.51B and a P/E of 65.5, trading near its 52-week high (opened at $684.06; high $734.79), while analysts hold a consensus "Moderate Buy" with an average target of $587.50.

Teacher Retirement System of Texas reduced its holdings in shares of Fabrinet (NYSE:FN - Free Report) by 38.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,628 shares of the technology company's stock after selling 4,195 shares during the quarter. Teacher Retirement System of Texas' holdings in Fabrinet were worth $3,018,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Westend Capital Management LLC bought a new stake in Fabrinet during the 4th quarter valued at $29,000. Root Financial Partners LLC purchased a new stake in shares of Fabrinet during the third quarter worth $34,000. USA Financial Formulas bought a new position in shares of Fabrinet in the fourth quarter worth $49,000. CI Investments Inc. boosted its holdings in shares of Fabrinet by 40.6% in the third quarter. CI Investments Inc. now owns 149 shares of the technology company's stock worth $54,000 after acquiring an additional 43 shares during the period. Finally, Larson Financial Group LLC grew its position in shares of Fabrinet by 25.8% in the third quarter. Larson Financial Group LLC now owns 161 shares of the technology company's stock valued at $59,000 after purchasing an additional 33 shares in the last quarter. 97.38% of the stock is currently owned by hedge funds and other institutional investors.

Fabrinet Stock Performance

Shares of FN opened at $684.06 on Tuesday. The firm has a market cap of $24.51 billion, a price-to-earnings ratio of 65.52 and a beta of 1.04. Fabrinet has a fifty-two week low of $193.54 and a fifty-two week high of $734.79. The firm has a 50 day moving average price of $579.66 and a 200-day moving average price of $498.99.

Fabrinet (NYSE:FN - Get Free Report) last released its earnings results on Monday, February 2nd. The technology company reported $3.36 EPS for the quarter, beating the consensus estimate of $3.26 by $0.10. The company had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.08 billion. Fabrinet had a net margin of 9.69% and a return on equity of 18.69%. The firm's quarterly revenue was up 35.9% compared to the same quarter last year. During the same quarter last year, the firm earned $2.61 EPS. Fabrinet has set its Q3 2026 guidance at 3.450-3.600 EPS. As a group, equities research analysts predict that Fabrinet will post 12.8 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on FN. Susquehanna increased their price objective on Fabrinet from $550.00 to $570.00 and gave the stock a "positive" rating in a report on Thursday, January 22nd. Needham & Company LLC reaffirmed a "buy" rating and set a $540.00 target price on shares of Fabrinet in a report on Tuesday, February 3rd. B. Riley Financial upped their price target on Fabrinet from $366.00 to $452.00 and gave the company a "neutral" rating in a research report on Tuesday, February 3rd. Zacks Research downgraded shares of Fabrinet from a "strong-buy" rating to a "hold" rating in a report on Monday, April 6th. Finally, Weiss Ratings lowered shares of Fabrinet from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Wednesday, April 8th. Five investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $587.50.

About Fabrinet

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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