Public Employees Retirement System of Ohio bought a new position in Fabrinet (NYSE:FN – Free Report) during the second quarter, Holdings Channel reports. The firm bought 10,653 shares of the technology company’s stock, valued at approximately $5,988,000.
Several other large investors have also added to or reduced their stakes in FN. Price T Rowe Associates Inc. MD increased its holdings in Fabrinet by 163.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 4,041,227 shares of the technology company’s stock worth $1,839,891,000 after purchasing an additional 2,504,841 shares in the last quarter. Wasatch Advisors LP lifted its holdings in shares of Fabrinet by 45.1% in the second quarter. Wasatch Advisors LP now owns 1,779,665 shares of the technology company’s stock valued at $524,432,000 after purchasing an additional 553,196 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Fabrinet by 4.8% during the fourth quarter. Geode Capital Management LLC now owns 1,108,813 shares of the technology company’s stock valued at $504,886,000 after buying an additional 50,708 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of Fabrinet by 64.8% during the fourth quarter. JPMorgan Chase & Co. now owns 1,065,414 shares of the technology company’s stock valued at $485,063,000 after buying an additional 419,081 shares during the last quarter. Finally, Invesco Ltd. grew its holdings in Fabrinet by 33.3% during the third quarter. Invesco Ltd. now owns 681,850 shares of the technology company’s stock worth $248,616,000 after buying an additional 170,297 shares in the last quarter. Institutional investors own 97.38% of the company’s stock.
Analyst Upgrades and Downgrades
A number of research firms recently commented on FN. Rosenblatt Securities reissued a “buy” rating and issued a $750.00 price target on shares of Fabrinet in a research report on Tuesday, August 18th. Wall Street Zen downgraded shares of Fabrinet from a “buy” rating to a “hold” rating in a report on Monday, July 20th. Fox Advisors upgraded shares of Fabrinet from an “equal weight” rating to an “overweight” rating in a research note on Wednesday, August 19th. Barclays increased their target price on shares of Fabrinet from $702.00 to $739.00 and gave the company an “overweight” rating in a report on Tuesday, August 18th. Finally, Weiss Ratings upgraded shares of Fabrinet from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, August 26th. Seven research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $649.50.
Fabrinet Trading Down 1.8%
Shares of Fabrinet stock opened at $394.93 on Thursday. The business’s fifty day simple moving average is $488.04 and its 200 day simple moving average is $565.57. Fabrinet has a 12 month low of $333.05 and a 12 month high of $748.89. The firm has a market capitalization of $14.15 billion, a P/E ratio of 30.26 and a beta of 1.21.
Fabrinet (NYSE:FN – Get Free Report) last announced its earnings results on Monday, August 17th. The technology company reported $4.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.81 by $0.29. The firm had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.28 billion. Fabrinet had a return on equity of 21.23% and a net margin of 10.19%.The business’s revenue was up 44.6% compared to the same quarter last year. During the same period last year, the firm posted $2.65 EPS. Fabrinet has set its Q1 2027 guidance at 4.100-4.250 EPS. Analysts predict that Fabrinet will post 17.5 EPS for the current fiscal year.
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.
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