William Blair Investment Management LLC Makes New Investment in Fabrinet $FN

Key Points

• William Blair Investment Management LLC purchased a new stake in Fabrinet, acquiring 89,055 shares valued at approximately $26.24 million. They owned about 0.25% of the company post-purchase.
• Analysts have increased their price targets for Fabrinet significantly, with JPMorgan Chase & Co. raising their target from $345 to $430, and the stock currently holds an average price target of $337.33.
• Fabrinet reported a 20.8% year-over-year increase in revenue during its last quarter, with earnings of $2.65 per share, surpassing analysts' expectations.

William Blair Investment Management LLC bought a new stake in shares of Fabrinet (NYSE:FN - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 89,055 shares of the technology company's stock, valued at approximately $26,243,000. William Blair Investment Management LLC owned about 0.25% of Fabrinet at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Baillie Gifford & Co. boosted its stake in shares of Fabrinet by 16.5% in the 1st quarter. Baillie Gifford & Co. now owns 644,557 shares of the technology company's stock worth $127,306,000 after buying an additional 91,519 shares during the last quarter. TD Asset Management Inc boosted its stake in shares of Fabrinet by 25.4% in the 2nd quarter. TD Asset Management Inc now owns 599,337 shares of the technology company's stock worth $176,613,000 after buying an additional 121,233 shares during the last quarter. Epoch Investment Partners Inc. boosted its stake in shares of Fabrinet by 12.8% in the 1st quarter. Epoch Investment Partners Inc. now owns 389,247 shares of the technology company's stock worth $76,880,000 after buying an additional 44,182 shares during the last quarter. Analog Century Management LP boosted its stake in shares of Fabrinet by 3.8% in the 1st quarter. Analog Century Management LP now owns 328,725 shares of the technology company's stock worth $64,926,000 after buying an additional 12,063 shares during the last quarter. Finally, Nuveen LLC purchased a new position in shares of Fabrinet in the 1st quarter worth $64,274,000. 97.38% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Needham & Company LLC restated a "buy" rating and issued a $350.00 price target on shares of Fabrinet in a research note on Tuesday, August 19th. 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. JPMorgan Chase & Co. increased their price target on shares of Fabrinet from $345.00 to $430.00 and gave the stock an "overweight" rating in a research report on Thursday. B. Riley increased their price target on shares of Fabrinet from $184.00 to $220.00 and gave the stock a "neutral" rating in a research report on Tuesday, August 19th. Finally, Barclays increased their price target on shares of Fabrinet from $234.00 to $329.00 and gave the stock an "equal weight" rating in a research report on Tuesday, August 19th. Five investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Fabrinet currently has an average rating of "Moderate Buy" and an average target price of $337.33.

Insider Transactions at Fabrinet

In other news, CEO Seamus Grady sold 9,513 shares of the 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 completion of the sale, the chief executive officer directly owned 46,024 shares of the company's stock, valued at $15,165,828.48. This represents a 17.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Harpal Gill sold 14,203 shares of the 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 sale, the chief operating officer directly owned 13,983 shares of the company's stock, 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. Insiders sold a total of 27,049 shares of company stock valued at $9,360,401 over the last three months. Corporate insiders own 0.38% of the company's stock.

Fabrinet Price Performance

Shares of NYSE FN opened at $410.16 on Monday. The firm has a fifty day moving average price of $354.88 and a 200-day moving average price of $286.40. The stock has a market cap of $14.65 billion, a PE ratio of 44.68 and a beta of 1.05. Fabrinet has a 1 year low of $148.55 and a 1 year high of $432.00.

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 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%. The company's revenue for the quarter was up 20.8% compared to the same quarter last year. During the same period in the prior year, the company posted $2.41 earnings per share. Fabrinet has set its Q1 2026 guidance at 2.750-2.900 EPS. On average, research analysts expect that Fabrinet will post 9.4 EPS for the current year.

Fabrinet Company 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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