Summit Investment Advisors Inc. Lowers Position in Fabrinet $FN

Summit Investment Advisors Inc. lowered its stake in shares of Fabrinet (NYSE:FN) by 2.1% during the first quarter, HoldingsChannel.com reports. The firm owned 11,037 shares of the technology company’s stock after selling 242 shares during the period. Summit Investment Advisors Inc.’s holdings in Fabrinet were worth $2,180,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Baillie Gifford & Co. increased its stake in Fabrinet by 16.5% during the first 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 last quarter. TD Asset Management Inc lifted its holdings 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 buying an additional 121,233 shares in the last quarter. Epoch Investment Partners Inc. grew its stake in Fabrinet by 12.8% during the 1st quarter. Epoch Investment Partners Inc. now owns 389,247 shares of the technology company’s stock valued at $76,880,000 after purchasing an additional 44,182 shares in the last quarter. Analog Century Management LP grew its stake in Fabrinet by 3.8% during the 1st quarter. Analog Century Management LP now owns 328,725 shares of the technology company’s stock valued at $64,926,000 after purchasing an additional 12,063 shares in the last quarter. Finally, Nuveen LLC acquired a new position in shares of Fabrinet in the 1st quarter valued at approximately $64,274,000. Institutional investors and hedge funds own 97.38% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Rosenblatt Securities increased their target price on Fabrinet from $425.00 to $550.00 and gave the company a “buy” rating in a research note on Tuesday, November 4th. B. Riley increased their price objective on shares of Fabrinet from $184.00 to $220.00 and gave the company a “neutral” rating in a research note on Tuesday, August 19th. Needham & Company LLC boosted their target price on shares of Fabrinet from $440.00 to $540.00 and gave the stock a “buy” rating in a research report on Tuesday, November 4th. Weiss Ratings restated a “buy (b-)” rating on shares of Fabrinet in a research note on Wednesday, October 8th. Finally, Northland Securities set a $550.00 price target on Fabrinet in a research note on Tuesday, November 4th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $451.29.

Fabrinet Stock Down 2.9%

Shares of NYSE FN opened at $447.89 on Monday. The firm’s 50-day moving average price is $389.78 and its two-hundred day moving average price is $313.76. Fabrinet has a 52-week low of $148.55 and a 52-week high of $498.00. The stock has a market capitalization of $16.05 billion, a P/E ratio of 46.13 and a beta of 1.05.

Fabrinet (NYSE:FN) last announced its quarterly earnings results on Monday, November 3rd. The technology company reported $2.92 earnings per share for the quarter, topping analysts’ consensus estimates of $2.83 by $0.09. The business had revenue of $978.13 million for the quarter, compared to analysts’ expectations of $935.04 million. Fabrinet had a return on equity of 18.16% and a net margin of 9.77%.The business’s quarterly revenue was up 21.6% on a year-over-year basis. During the same period in the prior year, the firm earned $2.39 EPS. Fabrinet has set its Q2 2026 guidance at 3.150-3.300 EPS. As a group, equities research analysts expect that Fabrinet will post 9.4 earnings per share for the current year.

Insider Activity at Fabrinet

In related news, CEO Seamus Grady sold 9,513 shares of Fabrinet stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $329.52, for a total value of $3,134,723.76. Following the sale, the chief executive officer directly owned 46,024 shares in the company, valued at $15,165,828.48. This trade represents a 17.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Edward T. Archer sold 3,333 shares of Fabrinet stock in a transaction dated 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 sale, the executive vice president owned 6,644 shares in the company, valued at approximately $2,355,165.12. This represents a 33.41% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 27,049 shares of company stock worth $9,360,401 in the last ninety days. 0.24% of the stock is owned by insiders.

About Fabrinet

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.