Voya Investment Management LLC Buys 4,670 Shares of Fabrinet $FN

Key Points

• Voya Investment Management LLC increased its stake in Fabrinet by 19.1%, purchasing an additional 4,670 shares, bringing its total ownership to 29,107 shares valued at approximately $5.7 million.
• Fabrinet recently reported earnings of $2.65 EPS, exceeding estimates, with quarterly revenue of $909.69 million, showing a year-over-year increase of 20.8%.
• Multiple analysts have issued ratings on Fabrinet, with B. Riley raising the price target to $220 and JPMorgan increasing it to $345, while the average price target across analysts stands at $312.33.

Voya Investment Management LLC lifted its position in Fabrinet (NYSE:FN - Free Report) by 19.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 29,107 shares of the technology company's stock after purchasing an additional 4,670 shares during the quarter. Voya Investment Management LLC owned about 0.08% of Fabrinet worth $5,749,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. First Hawaiian Bank purchased a new stake in Fabrinet in the 1st quarter valued at $1,133,000. Strs Ohio acquired a new stake in shares of Fabrinet in the first quarter valued at approximately $1,699,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Fabrinet by 4.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 79,444 shares of the technology company's stock worth $15,691,000 after purchasing an additional 3,717 shares during the last quarter. Empowered Funds LLC purchased a new stake in shares of Fabrinet during the first quarter worth approximately $2,331,000. Finally, United Services Automobile Association acquired a new position in Fabrinet during the first quarter worth $473,000. 97.38% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

FN has been the topic of a number of analyst reports. B. Riley increased their price objective on Fabrinet from $184.00 to $220.00 and gave the company a "neutral" rating in a research note on Tuesday, August 19th. JPMorgan Chase & Co. raised Fabrinet from a "neutral" rating to an "overweight" rating and upped their price target for the company from $318.00 to $345.00 in a research report on Monday, August 25th. Wolfe Research initiated coverage on Fabrinet in a research report on Tuesday, July 8th. They set a "peer perform" rating for the company. Rosenblatt Securities reaffirmed a "buy" rating and set a $360.00 target price on shares of Fabrinet in a research report on Tuesday, August 19th. Finally, Zacks Research lowered Fabrinet from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 28th. Four analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $312.33.

Fabrinet Price Performance

Shares of Fabrinet stock opened at $378.78 on Friday. The firm has a market capitalization of $13.53 billion, a price-to-earnings ratio of 41.26 and a beta of 1.08. Fabrinet has a one year low of $148.55 and a one year high of $381.66. The business has a 50-day simple moving average of $328.36 and a 200 day simple moving average of $260.51.

Fabrinet (NYSE:FN - Get Free Report) last released its quarterly earnings results on Monday, August 18th. The technology company reported $2.65 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 return on equity of 17.77% and a net margin of 9.72%.The company's quarterly revenue was up 20.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.41 EPS. Fabrinet has set its Q1 2026 guidance at 2.750-2.900 EPS. On average, sell-side analysts expect that Fabrinet will post 9.4 EPS for the current year.

Insider Activity at Fabrinet

In other news, CEO Seamus Grady sold 9,513 shares of the company's stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $329.52, for a total value of $3,134,723.76. Following the transaction, the chief executive officer owned 46,024 shares of the company's stock, valued at approximately $15,165,828.48. This represents a 17.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Harpal Gill sold 14,203 shares of the company's stock in a transaction 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 completion of the transaction, the chief operating officer directly owned 13,983 shares in the company, valued at approximately $4,966,062.45. The trade was a 50.39% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 27,049 shares of company stock worth $9,360,401. Insiders own 0.38% of the company's stock.

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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