Eventide Asset Management LLC Increases Position in Fabrinet $FN

Eventide Asset Management LLC grew its holdings in Fabrinet (NYSE:FN) by 293.6% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 17,009 shares of the technology company’s stock after acquiring an additional 12,688 shares during the quarter. Eventide Asset Management LLC’s holdings in Fabrinet were worth $7,753,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Balboa Wealth Partners raised its holdings in shares of Fabrinet by 2.5% in the fourth quarter. Balboa Wealth Partners now owns 863 shares of the technology company’s stock valued at $393,000 after buying an additional 21 shares during the last quarter. Richardson Financial Services Inc. raised its holdings in shares of Fabrinet by 12.2% in the fourth quarter. Richardson Financial Services Inc. now owns 211 shares of the technology company’s stock valued at $96,000 after buying an additional 23 shares during the last quarter. REAP Financial Group LLC raised its holdings in shares of Fabrinet by 15.7% in the fourth quarter. REAP Financial Group LLC now owns 192 shares of the technology company’s stock valued at $87,000 after buying an additional 26 shares during the last quarter. Harbour Investments Inc. raised its holdings in shares of Fabrinet by 75.0% in the fourth quarter. Harbour Investments Inc. now owns 63 shares of the technology company’s stock valued at $29,000 after buying an additional 27 shares during the last quarter. Finally, Allworth Financial LP raised its holdings in shares of Fabrinet by 7.4% in the fourth quarter. Allworth Financial LP now owns 405 shares of the technology company’s stock valued at $184,000 after buying an additional 28 shares during the last quarter. 97.38% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Fabrinet

In other Fabrinet news, Director Homa Bahrami sold 2,500 shares of the stock in a transaction dated 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 completion of the transaction, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.24% of the company’s stock.

Fabrinet Trading Down 0.4%

Shares of Fabrinet stock opened at $608.68 on Monday. Fabrinet has a 12-month low of $244.24 and a 12-month high of $748.89. The stock has a market cap of $21.81 billion, a PE ratio of 52.29 and a beta of 1.18. The company has a 50-day moving average of $658.48 and a two-hundred day moving average of $553.33.

Fabrinet (NYSE:FN) last issued its earnings results on Monday, May 4th. The technology company reported $3.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.58 by $0.14. Fabrinet had a net margin of 9.94% and a return on equity of 19.83%. The company had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.19 billion. During the same period last year, the company posted $2.52 earnings per share. The firm’s quarterly 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. On average, sell-side analysts forecast that Fabrinet will post 12.96 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently issued reports on FN shares. Fox Advisors cut shares of Fabrinet from a “strong-buy” rating to an “equal weight” rating in a report on Tuesday, May 5th. Needham & Company LLC reissued a “buy” rating and set a $800.00 price target on shares of Fabrinet in a report on Tuesday, May 5th. Zacks Research raised shares of Fabrinet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 5th. Weiss Ratings cut shares of Fabrinet from a “buy (b)” rating to a “buy (b-)” rating in a report on Friday, May 29th. Finally, JPMorgan Chase & Co. cut their price target on shares of Fabrinet from $700.00 to $680.00 and set a “neutral” rating for the company in a report on Tuesday, May 5th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, Fabrinet has an average rating of “Moderate Buy” and a consensus price target 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.