Clark Capital Management Group Inc. Cuts Stock Holdings in Fabrinet $FN

Clark Capital Management Group Inc. trimmed its position in shares of Fabrinet (NYSE:FN) by 0.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 214,734 shares of the technology company’s stock after selling 1,895 shares during the quarter. Clark Capital Management Group Inc.’s holdings in Fabrinet were worth $97,764,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in Fabrinet by 1.4% during the 3rd quarter. Vanguard Group Inc. now owns 4,135,345 shares of the technology company’s stock worth $1,507,829,000 after acquiring an additional 59,002 shares during the last quarter. Wasatch Advisors LP boosted its holdings in Fabrinet by 45.1% during the 2nd quarter. Wasatch Advisors LP now owns 1,779,665 shares of the technology company’s stock worth $524,432,000 after acquiring an additional 553,196 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Fabrinet by 4.8% during the 4th quarter. Geode Capital Management LLC now owns 1,108,813 shares of the technology company’s stock worth $504,886,000 after acquiring an additional 50,708 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in Fabrinet by 64.8% during the 4th quarter. JPMorgan Chase & Co. now owns 1,065,414 shares of the technology company’s stock worth $485,063,000 after acquiring an additional 419,081 shares during the last quarter. Finally, Invesco Ltd. boosted its holdings in Fabrinet by 33.3% during the 3rd quarter. Invesco Ltd. now owns 681,850 shares of the technology company’s stock worth $248,616,000 after acquiring an additional 170,297 shares during the last quarter. 97.38% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Homa Bahrami sold 2,500 shares of Fabrinet 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 sale, the director owned 16,233 shares of the company’s stock, valued at approximately $11,556,435.03. This trade represents a 13.35% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.24% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Weiss Ratings raised shares of Fabrinet from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday. Rosenblatt Securities raised their target price on Fabrinet from $715.00 to $750.00 and gave the company a “buy” rating in a research report on Tuesday, May 5th. Barclays raised their target price on Fabrinet from $548.00 to $702.00 and gave the company an “overweight” rating in a research report on Tuesday, May 5th. Needham & Company LLC reaffirmed a “buy” rating and set a $800.00 target price on shares of Fabrinet in a research report on Tuesday, May 5th. Finally, Fox Advisors lowered Fabrinet from a “strong-buy” rating to an “equal weight” rating in a research report on Tuesday, May 5th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $661.75.

Fabrinet Price Performance

Shares of Fabrinet stock opened at $587.73 on Wednesday. Fabrinet has a 1 year low of $255.95 and a 1 year high of $748.89. The firm has a market cap of $21.06 billion, a PE ratio of 50.49 and a beta of 1.17. The stock has a fifty day moving average price of $660.68 and a 200-day moving average price of $555.75.

Fabrinet (NYSE:FN) last announced its earnings results on Monday, May 4th. The technology company reported $3.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.58 by $0.14. Fabrinet had a return on equity of 19.83% and a net margin of 9.94%.The firm had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same period last year, the firm posted $2.52 EPS. The business’s revenue was up 39.3% compared to the same quarter last year. Fabrinet has set its Q4 2026 guidance at 3.720-3.870 EPS. As a group, equities analysts anticipate that Fabrinet will post 12.96 EPS for the current fiscal year.

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.