Granahan Investment Management LLC Sells 1,446 Shares of Fabrinet $FN

Granahan Investment Management LLC reduced its position in Fabrinet (NYSE:FN) by 12.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,431 shares of the technology company’s stock after selling 1,446 shares during the quarter. Granahan Investment Management LLC’s holdings in Fabrinet were worth $5,440,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. Core Wealth Advisors LLC bought a new stake in Fabrinet in the 4th quarter worth approximately $25,000. Westend Capital Management LLC bought a new position in Fabrinet during the fourth quarter valued at approximately $29,000. Harbour Investments Inc. grew its position in Fabrinet by 75.0% during the fourth quarter. Harbour Investments Inc. now owns 63 shares of the technology company’s stock valued at $29,000 after acquiring an additional 27 shares during the last quarter. Cassaday & Co Wealth Management LLC purchased a new position in shares of Fabrinet during the first quarter worth approximately $31,000. Finally, Creative Financial Designs Inc. ADV bought a new stake in shares of Fabrinet in the 4th quarter worth approximately $32,000. 97.38% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Fabrinet news, Director Homa Bahrami sold 2,500 shares of the stock in a transaction that occurred on 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 sale, the director owned 16,233 shares in the company, valued at approximately $11,556,435.03. This trade represents a 13.35% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.24% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on FN shares. Zacks Research cut shares of Fabrinet from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 15th. Northland Securities set a $800.00 target price on shares of Fabrinet in a research report on Monday, April 20th. Fox Advisors downgraded shares of Fabrinet from a “strong-buy” rating to an “equal weight” rating in a research note on Tuesday, May 5th. Needham & Company LLC cut their price target on shares of Fabrinet from $800.00 to $650.00 and set a “buy” rating for the company in a research report on Wednesday. Finally, Barclays raised their price objective on Fabrinet from $548.00 to $702.00 and gave the company an “overweight” rating in a research note on Tuesday, May 5th. Six research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, Fabrinet has a consensus rating of “Moderate Buy” and a consensus price target of $643.00.

Fabrinet Stock Down 8.2%

Shares of Fabrinet stock opened at $475.48 on Friday. The firm has a market cap of $17.04 billion, a PE ratio of 40.85 and a beta of 1.20. Fabrinet has a 12-month low of $272.49 and a 12-month high of $748.89. The company’s fifty day simple moving average is $579.66 and its two-hundred day simple moving average is $564.64.

Fabrinet (NYSE:FN) last issued its quarterly earnings data on Monday, May 4th. The technology company reported $3.72 EPS for the quarter, beating the consensus estimate of $3.58 by $0.14. The firm had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.19 billion. Fabrinet had a net margin of 9.94% and a return on equity of 19.83%. The company’s quarterly revenue was up 39.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.52 earnings per share. Fabrinet has set its Q4 2026 guidance at 3.720-3.870 EPS. As a group, sell-side analysts expect that Fabrinet will post 12.97 earnings per share for the current fiscal year.

About Fabrinet

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.