Fred Alger Management LLC Boosts Holdings in Fabrinet $FN

Fred Alger Management LLC grew its stake in shares of Fabrinet (NYSE:FN) by 139.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 42,625 shares of the technology company’s stock after purchasing an additional 24,838 shares during the period. Fred Alger Management LLC owned approximately 0.12% of Fabrinet worth $15,542,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Cullen Frost Bankers Inc. grew its holdings in shares of Fabrinet by 20.4% during the 3rd quarter. Cullen Frost Bankers Inc. now owns 171 shares of the technology company’s stock worth $62,000 after acquiring an additional 29 shares during the period. Coldstream Capital Management Inc. lifted its stake in shares of Fabrinet by 3.2% in 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 boosted its position in shares of Fabrinet by 1.0% during the second quarter. Evergreen Capital Management LLC now owns 3,032 shares of the technology company’s stock valued at $893,000 after purchasing an additional 31 shares in the last quarter. Stephens Inc. AR boosted its position in shares of Fabrinet by 4.4% during the third quarter. Stephens Inc. AR now owns 782 shares of the technology company’s stock valued at $285,000 after purchasing an additional 33 shares in the last quarter. Finally, Profund Advisors LLC grew its stake in Fabrinet by 2.2% in the third quarter. Profund Advisors LLC now owns 1,505 shares of the technology company’s stock worth $549,000 after purchasing an additional 33 shares during the period. Hedge funds and other institutional investors own 97.38% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on FN shares. Wolfe Research raised Fabrinet from a “peer perform” rating to an “outperform” rating and set a $540.00 price objective for the company in a research report on Wednesday, February 4th. B. Riley Financial upped their target price on shares of Fabrinet from $366.00 to $452.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 3rd. Northland Securities set a $600.00 price target on shares of Fabrinet in a research note on Monday, December 22nd. Needham & Company LLC reissued a “buy” rating and set a $540.00 price target on shares of Fabrinet in a research report on Tuesday, February 3rd. Finally, Barclays upped their price objective on shares of Fabrinet from $537.00 to $548.00 and gave the stock an “overweight” rating in a report on Tuesday, February 3rd. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $541.25.

Fabrinet Price Performance

FN opened at $514.10 on Tuesday. The firm has a market cap of $18.42 billion, a PE ratio of 49.24 and a beta of 1.01. The stock has a 50-day moving average price of $502.67 and a 200-day moving average price of $448.00. Fabrinet has a 1 year low of $148.55 and a 1 year high of $632.99.

Fabrinet (NYSE:FN) last announced its quarterly earnings data on Monday, February 2nd. The technology company reported $3.36 EPS for the quarter, beating the consensus estimate of $3.26 by $0.10. The company had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.08 billion. Fabrinet had a net margin of 9.69% and a return on equity of 18.69%. Fabrinet’s revenue for the quarter was up 35.9% on a year-over-year basis. During the same period in the prior year, the firm posted $2.61 EPS. Fabrinet has set its Q3 2026 guidance at 3.450-3.600 EPS. As a group, sell-side analysts anticipate that Fabrinet will post 9.4 EPS for the current year.

Fabrinet 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.