Clearbridge Investments LLC Sells 7,561 Shares of Fabrinet $FN

Clearbridge Investments LLC lowered its position in Fabrinet (NYSE:FN) by 4.6% in the fourth quarter, Holdings Channel.com reports. The fund owned 155,520 shares of the technology company’s stock after selling 7,561 shares during the period. Clearbridge Investments LLC’s holdings in Fabrinet were worth $70,805,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of Fabrinet by 1.4% in 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 period. Wasatch Advisors LP lifted its position in shares of Fabrinet by 45.1% in 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 period. Geode Capital Management LLC lifted its position in shares of Fabrinet by 4.8% in 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 period. Invesco Ltd. lifted its position in shares of Fabrinet by 33.3% in 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 period. Finally, JPMorgan Chase & Co. lifted its position in shares of Fabrinet by 1.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 646,333 shares of the technology company’s stock worth $235,666,000 after acquiring an additional 10,621 shares during the period. Institutional investors own 97.38% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on the company. JPMorgan Chase & Co. reduced their price objective on Fabrinet from $700.00 to $680.00 and set a “neutral” rating for the company in a research report on Tuesday, May 5th. Barclays raised their price objective on Fabrinet from $548.00 to $702.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 5th. Northland Securities set a $800.00 target price on Fabrinet in a report on Monday, April 20th. Rosenblatt Securities increased their target price on Fabrinet from $715.00 to $750.00 and gave the stock a “buy” rating in a report on Tuesday, May 5th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $800.00 target price on shares of Fabrinet in a report on Tuesday, May 5th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $661.75.

Insider Activity at Fabrinet

In other 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 value of $1,779,775.00. Following the completion of the sale, the director directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.24% of the company’s stock.

Fabrinet Price Performance

FN stock opened at $623.94 on Tuesday. The business has a fifty day moving average price of $653.49 and a 200 day moving average price of $548.06. Fabrinet has a fifty-two week low of $231.51 and a fifty-two week high of $748.89. The stock has a market capitalization of $22.36 billion, a price-to-earnings ratio of 53.60 and a beta of 1.18.

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 firm had revenue of $1.21 billion during 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 was up 39.3% on a year-over-year basis. During the same period last year, the firm posted $2.52 EPS. Fabrinet has set its Q4 2026 guidance at 3.720-3.870 EPS. On average, equities analysts expect that Fabrinet will post 12.96 earnings per share for the current fiscal 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.