Wasatch Advisors LP Sells 119,777 Shares of Fabrinet $FN

Wasatch Advisors LP reduced its holdings in Fabrinet (NYSE:FN) by 14.6% during the first quarter, HoldingsChannel reports. The institutional investor owned 703,140 shares of the technology company’s stock after selling 119,777 shares during the period. Fabrinet comprises approximately 2.4% of Wasatch Advisors LP’s portfolio, making the stock its 6th largest holding. Wasatch Advisors LP’s holdings in Fabrinet were worth $366,702,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of FN. Price T Rowe Associates Inc. MD grew its position in shares of Fabrinet by 163.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 4,041,227 shares of the technology company’s stock valued at $1,839,891,000 after buying an additional 2,504,841 shares during the last quarter. Norges Bank bought a new position in Fabrinet in the fourth quarter worth about $193,766,000. JPMorgan Chase & Co. boosted its stake in Fabrinet by 64.8% in the fourth quarter. JPMorgan Chase & Co. now owns 1,065,414 shares of the technology company’s stock valued at $485,063,000 after acquiring an additional 419,081 shares during the period. Alliancebernstein L.P. grew its holdings in shares of Fabrinet by 226.1% during the third quarter. Alliancebernstein L.P. now owns 499,177 shares of the technology company’s stock valued at $182,010,000 after purchasing an additional 346,113 shares during the last quarter. Finally, Holocene Advisors LP bought a new position in shares of Fabrinet during the third quarter valued at approximately $124,847,000. 97.38% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Fabrinet news, Director Homa Bahrami sold 2,500 shares of Fabrinet stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $711.91, for a total transaction of $1,779,775.00. Following the sale, the director owned 16,233 shares of the company’s stock, valued at $11,556,435.03. The trade was a 13.35% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.24% of the stock is owned by insiders.

Fabrinet Trading Down 7.1%

Shares of NYSE:FN opened at $527.65 on Friday. The firm’s 50 day moving average is $651.37 and its two-hundred day moving average is $561.65. Fabrinet has a 52 week low of $272.49 and a 52 week high of $748.89. The firm has a market capitalization of $18.91 billion, a P/E ratio of 45.33 and a beta of 1.17.

Fabrinet (NYSE:FN) last released its quarterly earnings results on Monday, May 4th. The technology company reported $3.72 earnings per share for the quarter, beating analysts’ consensus estimates of $3.58 by $0.14. The company had revenue of $1.21 billion for 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%.The business’s revenue for the quarter was up 39.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.52 earnings per share. Fabrinet has set its Q4 2026 guidance at 3.720-3.870 EPS. Analysts predict that Fabrinet will post 12.96 EPS for the current year.

Wall Street Analysts Forecast Growth

FN has been the topic of several recent research reports. Northland Securities set a $800.00 price target on Fabrinet in a report on Monday, April 20th. Weiss Ratings upgraded Fabrinet from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, June 15th. JPMorgan Chase & Co. dropped their target price on Fabrinet from $700.00 to $680.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 5th. Rosenblatt Securities raised their target price on Fabrinet from $715.00 to $750.00 and gave the company a “buy” rating in a research note on Tuesday, May 5th. Finally, Zacks Research cut Fabrinet from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 15th. Six research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $661.75.

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.