Short Interest in Fabrinet (NYSE:FN) Decreases By 20.8%

Key Points

• Short interest in Fabrinet decreased by 20.8% in August, totaling 1,260,000 shares, which is approximately 3.6% of the company's shares.
• JPMorgan upgraded Fabrinet's rating from "neutral" to "overweight" with a price target increase from $318 to $345, while Zacks lowered its rating from "strong-buy" to "hold."
• Insider transactions included CEO Seamus Grady selling 9,513 shares for a total of over $3.1 million, representing a 17.13% decrease in his holdings.

Fabrinet (NYSE:FN - Get Free Report) saw a significant drop in short interest in August. As of August 15th, there was short interest totaling 1,260,000 shares, adropof20.8% from the July 31st total of 1,590,000 shares. Approximately3.6% of the shares of the company are short sold. Based on an average trading volume of 613,800 shares, the days-to-cover ratio is currently 2.1 days. Based on an average trading volume of 613,800 shares, the days-to-cover ratio is currently 2.1 days. Approximately3.6% of the shares of the company are short sold.

Analysts Set New Price Targets

FN has been the topic of a number of recent research reports. JPMorgan Chase & Co. upgraded Fabrinet from a "neutral" rating to an "overweight" rating and boosted their price objective for the stock from $318.00 to $345.00 in a research note on Monday, August 25th. Zacks Research lowered shares of Fabrinet from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 28th. Rosenblatt Securities reissued a "buy" rating and set a $360.00 price target 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. Finally, B. Riley boosted 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. Four research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, Fabrinet currently has an average rating of "Moderate Buy" and a consensus price target of $312.33.

Insider Activity

In related news, CEO Seamus Grady sold 9,513 shares of the stock in a transaction dated 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 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Edward T. Archer sold 3,333 shares of the firm's stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $354.48, for a total value of $1,181,481.84. Following the transaction, the executive vice president owned 6,644 shares in the company, valued at $2,355,165.12. This represents a 33.41% decrease in their position. The disclosure for this sale can be found here. Insiders sold 27,049 shares of company stock worth $9,360,401 over the last three months. 0.38% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Coldstream Capital Management Inc. raised its stake in shares of Fabrinet by 3.2% during the 2nd quarter. Coldstream Capital Management Inc. now owns 998 shares of the technology company's stock valued at $294,000 after purchasing an additional 31 shares during the period. Evergreen Capital Management LLC increased its position in Fabrinet by 1.0% during the 2nd quarter. Evergreen Capital Management LLC now owns 3,032 shares of the technology company's stock valued at $893,000 after buying an additional 31 shares in the last quarter. IFP Advisors Inc increased its holdings in shares of Fabrinet by 10.9% in the 2nd quarter. IFP Advisors Inc now owns 347 shares of the technology company's stock worth $103,000 after purchasing an additional 34 shares in the last quarter. SBI Securities Co. Ltd. boosted its stake in shares of Fabrinet by 21.7% in the 2nd quarter. SBI Securities Co. Ltd. now owns 219 shares of the technology company's stock worth $65,000 after buying an additional 39 shares during the last quarter. Finally, Bessemer Group Inc. lifted its position in Fabrinet by 33.6% during the second quarter. Bessemer Group Inc. now owns 171 shares of the technology company's stock valued at $50,000 after purchasing an additional 43 shares in the last quarter. Hedge funds and other institutional investors own 97.38% of the company's stock.

Fabrinet Stock Down 0.3%

FN stock traded down $1.25 during midday trading on Tuesday, reaching $369.43. The stock had a trading volume of 318,685 shares, compared to its average volume of 733,204. The firm has a market cap of $13.20 billion, a price-to-earnings ratio of 40.24 and a beta of 1.08. Fabrinet has a twelve month low of $148.55 and a twelve month high of $378.17. The business has a fifty day simple moving average of $316.24 and a two-hundred day simple moving average of $252.30.

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 for the quarter, topping analysts' consensus estimates of $2.63 by $0.02. Fabrinet had a return on equity of 17.77% and a net margin of 9.72%.The firm had revenue of $909.69 million during the quarter, compared to the consensus estimate of $880.19 million. During the same quarter in the prior year, the firm posted $2.41 EPS. The business's 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 analysts predict 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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