United Services Automobile Association Acquires New Holdings in Fabrinet $FN

Key Points

• United Services Automobile Association acquired 2,411 shares of Fabrinet, totaling approximately $473,000, during Q1 according to a recent SEC filing.
$5 million, marking a 50.39% decrease in his holdings.
• Analysts have boosted their outlook on Fabrinet, with JPMorgan raising the price target from $318 to $345 and four analysts rating the stock as a Buy.

United Services Automobile Association bought a new stake in shares of Fabrinet (NYSE:FN - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 2,411 shares of the technology company's stock, valued at approximately $473,000.

Other hedge funds have also added to or reduced their stakes in the company. Banque Cantonale Vaudoise purchased a new stake in Fabrinet during the 1st quarter valued at $29,000. Berbice Capital Management LLC purchased a new stake in shares of Fabrinet in the 1st quarter worth $30,000. Wayfinding Financial LLC purchased a new stake in shares of Fabrinet in the 1st quarter worth $30,000. Private Trust Co. NA increased its stake in shares of Fabrinet by 44.3% in the 1st quarter. Private Trust Co. NA now owns 166 shares of the technology company's stock worth $33,000 after purchasing an additional 51 shares in the last quarter. Finally, SBI Securities Co. Ltd. increased its stake in shares of Fabrinet by 93.5% in the 1st quarter. SBI Securities Co. Ltd. now owns 180 shares of the technology company's stock worth $36,000 after purchasing an additional 87 shares in the last quarter. 97.38% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently commented on FN. Needham & Company LLC restated a "buy" rating and issued a $350.00 price objective on shares of Fabrinet in a research note on Tuesday, August 19th. JPMorgan Chase & Co. upgraded Fabrinet from a "neutral" rating to an "overweight" rating and upped their price objective for the stock from $318.00 to $345.00 in a research note on Monday, August 25th. Rosenblatt Securities reiterated a "buy" rating and issued a $360.00 price target on shares of Fabrinet in a research note on Tuesday, August 19th. Zacks Research lowered Fabrinet from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 28th. Finally, B. Riley increased their price target on Fabrinet from $184.00 to $220.00 and gave the stock a "neutral" rating in a research note on Tuesday, August 19th. Four equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $312.33.

Fabrinet Trading Down 0.8%

Shares of NYSE:FN traded down $3.05 during trading on Tuesday, reaching $355.95. The company's stock had a trading volume of 231,238 shares, compared to its average volume of 730,626. The stock has a market capitalization of $12.72 billion, a PE ratio of 38.76 and a beta of 1.08. Fabrinet has a 12 month low of $148.55 and a 12 month high of $380.01. The firm's 50 day simple moving average is $323.74 and its two-hundred day simple moving average is $257.84.

Fabrinet (NYSE:FN - Get Free Report) last announced its quarterly earnings data 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 business had revenue of $909.69 million during the quarter, compared to the consensus estimate of $880.19 million. Fabrinet had a net margin of 9.72% and a return on equity of 17.77%. The firm's quarterly revenue was up 20.8% compared to the same quarter last year. During the same quarter last year, the firm earned $2.41 earnings per share. Fabrinet has set its Q1 2026 guidance at 2.750-2.900 EPS. Research analysts anticipate 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 the firm's stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $354.48, for a total transaction of $1,181,481.84. Following the transaction, the executive vice president directly owned 6,644 shares of the company's stock, valued at approximately $2,355,165.12. This trade represents a 33.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Harpal Gill sold 14,203 shares of the firm's stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $355.15, for a total transaction of $5,044,195.45. Following the transaction, the chief operating officer directly owned 13,983 shares in the company, valued at approximately $4,966,062.45. This trade represents a 50.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 27,049 shares of company stock valued at $9,360,401. 0.38% of the stock is currently owned by company insiders.

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.