HighTower Advisors LLC Increases Stock Position in Fabrinet $FN

HighTower Advisors LLC raised its holdings in shares of Fabrinet (NYSE:FN) by 105.2% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 5,127 shares of the technology company’s stock after acquiring an additional 2,628 shares during the quarter. HighTower Advisors LLC’s holdings in Fabrinet were worth $1,869,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of FN. Azzad Asset Management Inc. ADV purchased a new position in Fabrinet in the 3rd quarter worth about $1,037,000. Federated Hermes Inc. grew its stake in shares of Fabrinet by 105.2% in the third quarter. Federated Hermes Inc. now owns 5,982 shares of the technology company’s stock worth $2,181,000 after acquiring an additional 3,067 shares during the period. Argent Capital Management LLC purchased a new position in shares of Fabrinet during the third quarter valued at approximately $4,931,000. Torray Investment Partners LLC bought a new position in Fabrinet during the third quarter valued at approximately $2,458,000. Finally, Gateway Investment Advisers LLC bought a new position in Fabrinet during the third quarter valued at approximately $1,435,000. Hedge funds and other institutional investors own 97.38% of the company’s stock.

Fabrinet Stock Performance

Shares of Fabrinet stock opened at $546.15 on Friday. The stock has a market cap of $19.57 billion, a P/E ratio of 52.31 and a beta of 1.04. The stock’s fifty day moving average is $489.44 and its 200 day moving average is $430.35. Fabrinet has a one year low of $148.55 and a one year high of $632.99.

Fabrinet (NYSE:FN) last released its quarterly earnings results on Monday, February 2nd. The technology company reported $3.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.26 by $0.10. Fabrinet had a return on equity of 18.69% and a net margin of 9.69%.The business had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.08 billion. During the same quarter in the previous year, the company posted $2.61 earnings per share. Fabrinet’s revenue for the quarter was up 35.9% on a year-over-year basis. Fabrinet has set its Q3 2026 guidance at 3.450-3.600 EPS. Analysts predict that Fabrinet will post 9.4 EPS for the current year.

Insider Buying and Selling

In other Fabrinet news, Director Homa Bahrami sold 3,500 shares of Fabrinet stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $453.75, for a total transaction of $1,588,125.00. Following the transaction, the director owned 18,316 shares of the company’s stock, valued at $8,310,885. The trade was a 16.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Thomas F. Kelly sold 2,200 shares of the company’s stock in a transaction that occurred on Thursday, December 4th. The stock was sold at an average price of $464.14, for a total transaction of $1,021,108.00. Following the completion of the transaction, the director owned 18,789 shares of the company’s stock, valued at approximately $8,720,726.46. The trade was a 10.48% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.24% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on FN. Weiss Ratings downgraded shares of Fabrinet from a “buy (b)” rating to a “hold (c+)” rating in a research report on Friday, February 13th. Northland Securities set a $600.00 price objective on Fabrinet in a report on Monday, December 22nd. JPMorgan Chase & Co. increased their target price on Fabrinet from $430.00 to $530.00 and gave the company an “overweight” rating in a report on Tuesday, November 4th. Susquehanna raised their target price on Fabrinet from $550.00 to $570.00 and gave the stock a “positive” rating in a research report on Thursday, January 22nd. Finally, Rosenblatt Securities restated a “buy” rating and set a $550.00 price target on shares of Fabrinet in a research note on Tuesday, February 3rd. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Fabrinet presently has a consensus rating of “Moderate Buy” and a consensus price target of $541.25.

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.