Praxis Investment Management Inc. Invests $271,000 in Fabrinet $FN

Praxis Investment Management Inc. acquired a new position in shares of Fabrinet (NYSE:FN) in the second quarter, HoldingsChannel.com reports. The institutional investor acquired 920 shares of the technology company’s stock, valued at approximately $271,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of FN. Nuveen LLC purchased a new stake in Fabrinet in the 1st quarter worth approximately $64,274,000. TD Asset Management Inc grew its stake in Fabrinet by 25.4% in the 2nd quarter. TD Asset Management Inc now owns 599,337 shares of the technology company’s stock worth $176,613,000 after acquiring an additional 121,233 shares during the period. Baillie Gifford & Co. grew its stake in Fabrinet by 16.5% in the 1st quarter. Baillie Gifford & Co. now owns 644,557 shares of the technology company’s stock worth $127,306,000 after acquiring an additional 91,519 shares during the period. Vaughan Nelson Investment Management L.P. grew its stake in Fabrinet by 178.9% in the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 133,084 shares of the technology company’s stock worth $39,217,000 after acquiring an additional 85,359 shares during the period. Finally, Value Aligned Research Advisors LLC grew its stake in Fabrinet by 240.9% in the 1st quarter. Value Aligned Research Advisors LLC now owns 114,443 shares of the technology company’s stock worth $22,604,000 after acquiring an additional 80,873 shares during the period. 97.38% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Fabrinet

In related news, CEO Seamus Grady sold 9,513 shares of Fabrinet stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $329.52, for a total transaction of $3,134,723.76. Following the transaction, the chief executive officer owned 46,024 shares in the company, valued at approximately $15,165,828.48. The trade was a 17.13% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Edward T. Archer sold 3,333 shares of Fabrinet stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $354.48, for a total transaction of $1,181,481.84. Following the transaction, the executive vice president owned 6,644 shares in the company, valued at $2,355,165.12. The trade was a 33.41% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 27,049 shares of company stock worth $9,360,401. 0.38% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts have commented on FN shares. B. Riley lifted their target price on shares of Fabrinet from $184.00 to $220.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 19th. Wolfe Research assumed coverage on shares of Fabrinet in a report on Tuesday, July 8th. They issued a “peer perform” rating on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $350.00 price target on shares of Fabrinet in a report on Tuesday, August 19th. Barclays lifted their price target on shares of Fabrinet from $234.00 to $329.00 and gave the company an “equal weight” rating in a report on Tuesday, August 19th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Fabrinet in a report on Wednesday, October 8th. Five research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $337.33.

Fabrinet Trading Down 0.6%

NYSE:FN opened at $410.16 on Friday. The firm has a market capitalization of $14.65 billion, a price-to-earnings ratio of 44.68 and a beta of 1.05. The firm’s fifty day simple moving average is $354.88 and its 200 day simple moving average is $285.61. Fabrinet has a twelve month low of $148.55 and a twelve month high of $432.00.

Fabrinet (NYSE:FN) last posted its earnings results on Monday, August 18th. The technology company reported $2.65 earnings per share for the quarter, beating the consensus estimate of $2.63 by $0.02. The business had revenue of $909.69 million for the quarter, compared to analyst estimates of $880.19 million. Fabrinet had a net margin of 9.72% and a return on equity of 17.77%. The business’s quarterly revenue was up 20.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.41 EPS. Fabrinet has set its Q1 2026 guidance at 2.750-2.900 EPS. On average, analysts predict that Fabrinet will post 9.4 earnings per share for the current year.

Fabrinet Company Profile

Fabrinet provides optical packaging and precision optical, electro-mechanical, and electronic manufacturing services in North America, the Asia-Pacific, and Europe. The company offers a range of advanced optical and electro-mechanical capabilities in the manufacturing process, including process design and engineering, supply chain management, manufacturing, printed circuit board assembly, advanced packaging, integration, final assembly, and testing.