Principal Financial Group Inc. Purchases 28,166 Shares of Fabrinet $FN

Principal Financial Group Inc. raised its position in Fabrinet (NYSE:FN) by 15.0% in the first quarter, HoldingsChannel reports. The fund owned 216,049 shares of the technology company’s stock after purchasing an additional 28,166 shares during the quarter. Principal Financial Group Inc.’s holdings in Fabrinet were worth $112,674,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Ashton Thomas Private Wealth LLC bought a new position in shares of Fabrinet in the 1st quarter worth $203,000. Empowered Funds LLC bought a new stake in Fabrinet during the 1st quarter valued at $2,331,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Fabrinet by 4.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 79,444 shares of the technology company’s stock valued at $15,691,000 after purchasing an additional 3,717 shares in the last quarter. M&T Bank Corp acquired a new position in Fabrinet during the second quarter worth $214,000. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of Fabrinet by 574.7% in the second quarter. EverSource Wealth Advisors LLC now owns 533 shares of the technology company’s stock valued at $157,000 after buying an additional 454 shares in the last quarter. Institutional investors own 97.38% of the company’s stock.

Fabrinet Price Performance

NYSE FN opened at $487.42 on Thursday. Fabrinet has a 1 year low of $272.49 and a 1 year high of $748.89. The firm has a market cap of $17.46 billion, a price-to-earnings ratio of 41.87 and a beta of 1.20. The company has a fifty day moving average price of $604.21 and a 200-day moving average price of $563.94.

Fabrinet (NYSE:FN) last announced its earnings results on Monday, May 4th. The technology company reported $3.72 EPS for the quarter, beating the consensus estimate 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 the consensus estimate of $1.19 billion. During the same quarter in the prior year, the company posted $2.52 earnings per share. The firm’s revenue for the quarter was up 39.3% on a year-over-year basis. Fabrinet has set its Q4 2026 guidance at 3.720-3.870 EPS. On average, research analysts anticipate that Fabrinet will post 12.96 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have 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. Wall Street Zen raised shares of Fabrinet from a “hold” rating to a “buy” rating in a research report on Sunday. Zacks Research downgraded Fabrinet from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 15th. Weiss Ratings lowered Fabrinet from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, June 30th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $800.00 price objective on shares of Fabrinet in a research note on Tuesday, May 5th. Six analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $661.75.

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 sale, the director owned 16,233 shares in the company, 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 SEC, which is accessible through the SEC website. 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.