Lazard Asset Management LLC Raises Position in Fabrinet $FN

Lazard Asset Management LLC raised its position in shares of Fabrinet (NYSE:FN) by 20.2% during the 1st quarter, HoldingsChannel.com reports. The fund owned 11,322 shares of the technology company’s stock after acquiring an additional 1,902 shares during the period. Lazard Asset Management LLC’s holdings in Fabrinet were worth $5,905,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in FN. Swedbank AB acquired a new stake in shares of Fabrinet in the 4th quarter valued at $5,372,000. M&T Bank Corp increased its position in Fabrinet by 196.5% in the fourth quarter. M&T Bank Corp now owns 2,345 shares of the technology company’s stock worth $1,068,000 after purchasing an additional 1,554 shares during the period. JSF Financial LLC bought a new stake in Fabrinet during the 4th quarter worth about $957,000. Sei Investments Co. lifted its position in Fabrinet by 22.0% during the 1st quarter. Sei Investments Co. now owns 89,843 shares of the technology company’s stock valued at $46,854,000 after purchasing an additional 16,218 shares during the period. Finally, Principal Financial Group Inc. lifted its position in Fabrinet by 4.0% during the 4th quarter. Principal Financial Group Inc. now owns 187,883 shares of the technology company’s stock valued at $85,539,000 after purchasing an additional 7,233 shares during the period. Hedge funds and other institutional investors own 97.38% of the company’s stock.

Insider Buying and Selling

In other Fabrinet news, Director Homa Bahrami sold 2,500 shares of the company’s 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 completion of the sale, the director owned 16,233 shares of the company’s stock, valued at approximately $11,556,435.03. This represents a 13.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.24% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on FN shares. Zacks Research cut shares of Fabrinet from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 15th. Fox Advisors lowered shares of Fabrinet from a “strong-buy” rating to an “equal weight” rating in a report on Tuesday, May 5th. Rosenblatt Securities raised their price objective on shares of Fabrinet from $715.00 to $750.00 and gave the company a “buy” rating in a research note on Tuesday, May 5th. Northland Securities set a $800.00 target price on shares of Fabrinet in a report on Monday, April 20th. Finally, Weiss Ratings cut shares of Fabrinet from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, June 30th. Six investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $643.00.

Fabrinet Trading Up 6.2%

Fabrinet stock opened at $440.06 on Friday. The firm has a market capitalization of $15.77 billion, a P/E ratio of 37.81 and a beta of 1.20. The business has a 50-day moving average of $560.37 and a 200-day moving average of $564.96. Fabrinet has a 1 year low of $272.49 and a 1 year high of $748.89.

Fabrinet (NYSE:FN) last announced 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. Fabrinet had a net margin of 9.94% and a return on equity of 19.83%. The business had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.19 billion. During the same period last year, the company posted $2.52 EPS. Fabrinet’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. Research analysts anticipate that Fabrinet will post 12.97 EPS for the current fiscal year.

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.