VIRGINIA RETIREMENT SYSTEMS ET Al Purchases New Position in Fabrinet $FN

Key Points

• The Virginia Retirement Systems purchased a new stake in Fabrinet, acquiring 6,299 shares valued at approximately $1,856,000 during the second quarter.
• Fabrinet's stock has received mixed ratings from analysts, with five maintaining a Buy rating and four a Hold rating, while consensus target price stands at $337.33.
• Insider selling activity was notable, with COO Harpal Gill and EVP Edward T. Archer selling significant amounts of shares, reducing their stakes in the company.

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Fabrinet (NYSE:FN - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 6,299 shares of the technology company's stock, valued at approximately $1,856,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. IFP Advisors Inc increased its position in shares of Fabrinet by 10.9% during the second quarter. IFP Advisors Inc now owns 347 shares of the technology company's stock valued at $103,000 after buying an additional 34 shares during the period. Private Trust Co. NA increased its position in shares of Fabrinet by 44.3% during the first quarter. Private Trust Co. NA now owns 166 shares of the technology company's stock valued at $33,000 after buying an additional 51 shares during the period. CreativeOne Wealth LLC grew its holdings in Fabrinet by 4.9% in the first quarter. CreativeOne Wealth LLC now owns 1,148 shares of the technology company's stock worth $227,000 after purchasing an additional 54 shares during the period. UMB Bank n.a. grew its holdings in Fabrinet by 14.6% in the second quarter. UMB Bank n.a. now owns 456 shares of the technology company's stock worth $134,000 after purchasing an additional 58 shares during the period. Finally, Fifth Third Bancorp grew its holdings in Fabrinet by 17.7% in the second quarter. Fifth Third Bancorp now owns 413 shares of the technology company's stock worth $122,000 after purchasing an additional 62 shares during the period. Hedge funds and other institutional investors own 97.38% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Zacks Research cut shares of Fabrinet from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 28th. Needham & Company LLC restated a "buy" rating and issued a $350.00 price objective on shares of Fabrinet in a report on Tuesday, August 19th. Barclays upped their price objective on shares of Fabrinet from $234.00 to $329.00 and gave the stock an "equal weight" rating in a report on Tuesday, August 19th. B. Riley upped their price objective on shares of Fabrinet from $184.00 to $220.00 and gave the stock a "neutral" rating in a report on Tuesday, August 19th. Finally, Rosenblatt Securities upped their price objective on shares of Fabrinet from $360.00 to $425.00 and gave the stock a "buy" rating in a report on Thursday, October 2nd. Five equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, Fabrinet presently has a consensus rating of "Moderate Buy" and a consensus target price of $337.33.

Insider Activity at Fabrinet

In related news, COO Harpal Gill sold 14,203 shares of the stock in a transaction that occurred 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 transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Edward T. Archer sold 3,333 shares of the 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 owned 6,644 shares in the company, valued at approximately $2,355,165.12. This trade represents a 33.41% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 27,049 shares of company stock worth $9,360,401 over the last quarter. Company insiders own 0.38% of the company's stock.

Fabrinet Stock Performance

Shares of NYSE FN opened at $415.87 on Wednesday. The firm's 50 day moving average price is $357.73 and its 200-day moving average price is $288.95. The company has a market cap of $14.86 billion, a PE ratio of 45.30 and a beta of 1.05. Fabrinet has a 52-week low of $148.55 and a 52-week high of $432.00.

Fabrinet (NYSE:FN - Get Free Report) last issued its earnings results 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 firm had revenue of $909.69 million for 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 business's revenue was up 20.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.41 earnings per share. Fabrinet has set its Q1 2026 guidance at 2.750-2.900 EPS. On average, analysts forecast that Fabrinet will post 9.4 earnings per share for the current fiscal year.

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.

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