United Services Automobile Association Acquires Shares of 2,411 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 acquired a new stake in Fabrinet (NYSE:FN - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 2,411 shares of the technology company's stock, valued at approximately $473,000.

Other large investors also recently modified their holdings of the company. Banque Cantonale Vaudoise purchased a new stake in shares of Fabrinet in the 1st quarter valued at approximately $29,000. Wayfinding Financial LLC purchased a new stake in shares of Fabrinet in the 1st quarter valued at approximately $30,000. Berbice Capital Management LLC purchased a new stake in shares of Fabrinet in the 1st quarter valued at approximately $30,000. Private Trust Co. NA increased its position 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 valued at $33,000 after purchasing an additional 51 shares during the last quarter. Finally, SBI Securities Co. Ltd. increased its position 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 valued at $36,000 after purchasing an additional 87 shares during the last quarter. 97.38% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, COO Harpal Gill sold 14,203 shares of the stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $355.15, for a total transaction of $5,044,195.45. Following the completion of the sale, the chief operating officer owned 13,983 shares in the company, valued at $4,966,062.45. This represents a 50.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Seamus Grady sold 9,513 shares of the firm's stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $329.52, for a total transaction of $3,134,723.76. Following the completion of the sale, the chief executive officer owned 46,024 shares of the company's stock, valued at $15,165,828.48. This trade represents a 17.13% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 27,049 shares of company stock worth $9,360,401 in the last 90 days. Company insiders own 0.38% of the company's stock.

Analysts Set New Price Targets

FN has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. raised shares of Fabrinet from a "neutral" rating to an "overweight" rating and increased their target price for the company from $318.00 to $345.00 in a research report on Monday, August 25th. B. Riley increased their target price on shares of Fabrinet from $184.00 to $220.00 and gave the company a "neutral" rating in a research report on Tuesday, August 19th. Needham & Company LLC reaffirmed a "buy" rating and issued a $350.00 target price on shares of Fabrinet in a research report on Tuesday, August 19th. Zacks Research downgraded shares of Fabrinet from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 28th. Finally, Wolfe Research initiated coverage on shares of Fabrinet in a research report on Tuesday, July 8th. They issued a "peer perform" rating on the stock. Four investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $312.33.

Fabrinet Price Performance

Shares of NYSE:FN opened at $371.95 on Thursday. The stock has a market cap of $13.29 billion, a P/E ratio of 40.52 and a beta of 1.08. The firm has a fifty day moving average price of $319.52 and a 200 day moving average price of $253.93. Fabrinet has a 1-year low of $148.55 and a 1-year high of $380.01.

Fabrinet (NYSE:FN - Get Free Report) last issued its quarterly earnings results on Monday, August 18th. The technology company reported $2.65 earnings per share for the quarter, topping analysts' consensus estimates of $2.63 by $0.02. The firm had revenue of $909.69 million during the quarter, compared to analysts' expectations of $880.19 million. Fabrinet had a net margin of 9.72% and a return on equity of 17.77%. Fabrinet's quarterly revenue was up 20.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.41 EPS. Fabrinet has set its Q1 2026 guidance at 2.750-2.900 EPS. Sell-side analysts expect that Fabrinet will post 9.4 EPS for the current fiscal year.

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.

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