Norges Bank Purchases Shares of 425,597 Fabrinet $FN

Norges Bank purchased a new stake in shares of Fabrinet (NYSE:FN) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund purchased 425,597 shares of the technology company’s stock, valued at approximately $193,766,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Balboa Wealth Partners boosted its stake in Fabrinet by 2.5% during the 4th quarter. Balboa Wealth Partners now owns 863 shares of the technology company’s stock valued at $393,000 after purchasing an additional 21 shares during the last quarter. Richardson Financial Services Inc. boosted its stake in Fabrinet by 12.2% during the 4th quarter. Richardson Financial Services Inc. now owns 211 shares of the technology company’s stock valued at $96,000 after purchasing an additional 23 shares during the last quarter. Harbour Investments Inc. boosted its stake in Fabrinet by 75.0% during the 4th quarter. Harbour Investments Inc. now owns 63 shares of the technology company’s stock valued at $29,000 after purchasing an additional 27 shares during the last quarter. Allworth Financial LP boosted its stake in Fabrinet by 7.4% during the 4th quarter. Allworth Financial LP now owns 405 shares of the technology company’s stock valued at $184,000 after purchasing an additional 28 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC boosted its stake in Fabrinet by 2.8% during the 4th quarter. Ashton Thomas Private Wealth LLC now owns 1,134 shares of the technology company’s stock valued at $516,000 after purchasing an additional 31 shares during the last quarter. Institutional investors and hedge funds own 97.38% of the company’s stock.

Fabrinet Stock Up 3.1%

Shares of NYSE FN opened at $723.11 on Thursday. Fabrinet has a twelve month low of $231.51 and a twelve month high of $748.89. The stock’s 50 day moving average price is $649.44 and its 200-day moving average price is $542.93. The company has a market capitalization of $25.91 billion, a PE ratio of 62.12 and a beta of 1.17.

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

Analyst Ratings Changes

A number of equities analysts have issued reports on FN shares. Barclays lifted their price target on Fabrinet from $548.00 to $702.00 and gave the company an “overweight” rating in a research note on Tuesday, May 5th. Fox Advisors downgraded Fabrinet from a “strong-buy” rating to an “equal weight” rating in a research note on Tuesday, May 5th. Zacks Research upgraded Fabrinet from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 5th. Rosenblatt Securities boosted their target price on Fabrinet from $715.00 to $750.00 and gave the stock a “buy” rating in a research note on Tuesday, May 5th. Finally, Weiss Ratings downgraded Fabrinet from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, May 29th. One research 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, Fabrinet currently has a consensus rating of “Moderate Buy” and a consensus price target of $661.75.

Insider Activity at Fabrinet

In related news, Director Homa Bahrami sold 2,500 shares of Fabrinet stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $711.91, for a total value of $1,779,775.00. Following the sale, the director owned 16,233 shares of the company’s stock, valued at approximately $11,556,435.03. The trade was a 13.35% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.24% of the company’s stock.

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.