Zweig DiMenna Associates LLC Buys Shares of 12,900 Fabrinet $FN

Key Points

• Zweig DiMenna Associates LLC opened a new position in Fabrinet during the first quarter, buying 12,900 shares valued at about $6.7 million.
• Fabrinet reported stronger-than-expected quarterly results, with EPS of $3.72 and revenue of $1.21 billion, while revenue rose 39.3% year over year.
• Analysts remain broadly positive on the stock, with a Moderate Buy consensus and an average target price of $661.75, even though one insider recently sold shares and the stock traded well below its 52-week high.

Zweig DiMenna Associates LLC bought a new stake in Fabrinet (NYSE:FN - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 12,900 shares of the technology company's stock, valued at approximately $6,728,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Core Wealth Advisors LLC acquired a new position in Fabrinet during the fourth quarter valued at approximately $25,000. Westend Capital Management LLC bought a new stake in Fabrinet during the fourth quarter worth $29,000. Harbour Investments Inc. boosted its holdings in shares of Fabrinet by 75.0% in the 4th quarter. Harbour Investments Inc. now owns 63 shares of the technology company's stock valued at $29,000 after purchasing an additional 27 shares in the last quarter. Creative Financial Designs Inc. ADV acquired a new stake in shares of Fabrinet in the 4th quarter valued at $32,000. Finally, Quarry LP increased its stake in shares of Fabrinet by 300.0% in the 4th quarter. Quarry LP now owns 72 shares of the technology company's stock valued at $33,000 after purchasing an additional 54 shares during the last quarter. Institutional investors own 97.38% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Rosenblatt Securities boosted their price target on Fabrinet from $715.00 to $750.00 and gave the stock a "buy" rating in a report on Tuesday, May 5th. Weiss Ratings lowered Fabrinet from a "buy (b)" rating to a "buy (b-)" rating in a research note on Tuesday, June 30th. Northland Securities set a $800.00 target price on Fabrinet in a research report on Monday, April 20th. Zacks Research downgraded Fabrinet from a "strong-buy" rating to a "hold" rating in a research note on Monday, June 15th. Finally, Barclays boosted their target price on Fabrinet from $548.00 to $702.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 5th. Six investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $661.75.

Fabrinet Stock Performance

Shares of NYSE:FN opened at $482.07 on Wednesday. The company has a fifty day moving average of $607.99 and a 200-day moving average of $563.93. The company has a market capitalization of $17.27 billion, a PE ratio of 41.41 and a beta of 1.20. Fabrinet has a 52-week low of $272.49 and a 52-week high of $748.89.

Fabrinet (NYSE:FN - Get Free Report) last announced its quarterly earnings results on Monday, May 4th. The technology company reported $3.72 EPS for the quarter, beating analysts' consensus estimates of $3.58 by $0.14. The company had revenue of $1.21 billion during the quarter, compared to analysts' expectations of $1.19 billion. Fabrinet had a return on equity of 19.83% and a net margin of 9.94%.Fabrinet's revenue was up 39.3% compared to the same quarter last year. During the same period in the prior year, the company earned $2.52 EPS. Fabrinet has set its Q4 2026 guidance at 3.720-3.870 EPS. On average, equities analysts forecast that Fabrinet will post 12.96 EPS for the current fiscal year.

Insider Buying and Selling

In other Fabrinet news, Director Homa Bahrami sold 2,500 shares of the stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $711.91, for a total value of $1,779,775.00. Following the completion of the transaction, the director directly owned 16,233 shares in the company, valued at approximately $11,556,435.03. This trade represents a 13.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.24% of the company's stock.

Fabrinet Company Profile

Fabrinet is a global provider of advanced optical packaging and precision optical, electro‐mechanical and electronic manufacturing services (CEM). The company specializes in complex manufacturing processes for original equipment manufacturers (OEMs) in communications, data center, industrial, instrumentation and medical markets. Key capabilities include high‐precision fiber alignment, micro‐assembly, testing and diagnostics, and integration of electro‐optic subassemblies.

Incorporated in 2000, Fabrinet operates under a corporate structure headquartered in Singapore with additional regional offices and design centers in the Americas, Europe and Asia.

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