Verdence Capital Advisors LLC Makes New $308,000 Investment in Fabrinet $FN

Key Points

• Verdence Capital Advisors LLC has made a new investment of approximately $308,000 in Fabrinet, acquiring 1,046 shares during the second quarter.
• Analysts have varied opinions on Fabrinet's stock, with JPMorgan raising its target price to $430 and Zacks downgrading it to a "hold" rating, reflecting diverse market sentiments.
• Insider trading activities were significant, with CEO Seamus Grady selling over $3 million worth of stock, indicating a 17.13% reduction in his ownership.

Verdence Capital Advisors LLC purchased a new position in Fabrinet (NYSE:FN - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,046 shares of the technology company's stock, valued at approximately $308,000.

A number of other large investors have also bought and sold shares of the business. Baillie Gifford & Co. increased its stake in Fabrinet by 16.5% during the 1st quarter. Baillie Gifford & Co. now owns 644,557 shares of the technology company's stock worth $127,306,000 after purchasing an additional 91,519 shares in the last quarter. TD Asset Management Inc increased its position in shares of Fabrinet by 17.8% during the first quarter. TD Asset Management Inc now owns 478,104 shares of the technology company's stock worth $94,430,000 after acquiring an additional 72,385 shares in the last quarter. Epoch Investment Partners Inc. increased its position in shares of Fabrinet by 12.8% during the first quarter. Epoch Investment Partners Inc. now owns 389,247 shares of the technology company's stock worth $76,880,000 after acquiring an additional 44,182 shares in the last quarter. Analog Century Management LP increased its position in shares of Fabrinet by 3.8% during the first quarter. Analog Century Management LP now owns 328,725 shares of the technology company's stock worth $64,926,000 after acquiring an additional 12,063 shares in the last quarter. Finally, Nuveen LLC bought a new stake in shares of Fabrinet during the first quarter worth $64,274,000. 97.38% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on FN shares. JPMorgan Chase & Co. increased their target price on Fabrinet from $345.00 to $430.00 and gave the stock an "overweight" rating in a report on Thursday. Zacks Research downgraded Fabrinet from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 28th. Rosenblatt Securities increased their price objective on Fabrinet from $360.00 to $425.00 and gave the stock a "buy" rating in a report on Thursday, October 2nd. Wolfe Research began coverage on shares of Fabrinet in a research note on Tuesday, July 8th. They set a "peer perform" rating for the company. Finally, Barclays raised their price target on shares of Fabrinet from $234.00 to $329.00 and gave the stock an "equal weight" rating in a research note on Tuesday, August 19th. Five analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $337.33.

Insider Buying and Selling

In other news, CEO Seamus Grady sold 9,513 shares of the business's stock in a transaction that occurred 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 in the company, valued at $15,165,828.48. The trade was a 17.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Harpal Gill sold 14,203 shares of the business's stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $355.15, for a total value of $5,044,195.45. Following the completion of the sale, the chief operating officer owned 13,983 shares of the company's stock, valued at $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. In the last 90 days, insiders sold 27,049 shares of company stock valued at $9,360,401. Company insiders own 0.38% of the company's stock.

Fabrinet Stock Up 3.7%

FN stock opened at $412.97 on Friday. Fabrinet has a twelve month low of $148.55 and a twelve month high of $432.00. The business has a 50 day moving average price of $353.58 and a two-hundred day moving average price of $283.57. The company has a market cap of $14.76 billion, a price-to-earnings ratio of 44.99 and a beta of 1.05.

Fabrinet (NYSE:FN - Get Free Report) last announced its quarterly earnings data on Monday, August 18th. The technology company reported $2.65 EPS for the quarter, beating analysts' consensus estimates of $2.63 by $0.02. Fabrinet had a net margin of 9.72% and a return on equity of 17.77%. The company had revenue of $909.69 million during the quarter, compared to the consensus estimate of $880.19 million. During the same quarter last year, the firm posted $2.41 EPS. The company's quarterly revenue was up 20.8% on a year-over-year basis. Fabrinet has set its Q1 2026 guidance at 2.750-2.900 EPS. On average, equities research analysts anticipate 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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