Insider Selling: Fabrinet (NYSE:FN) EVP Sells $964,775.00 in Stock

Fabrinet (NYSE:FN) EVP Edward Archer sold 2,500 shares of the business’s stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $385.91, for a total value of $964,775.00. Following the completion of the sale, the executive vice president directly owned 7,007 shares in the company, valued at $2,704,071.37. This trade represents a 26.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Fabrinet Stock Up 0.1%

Shares of NYSE:FN traded up $0.24 on Thursday, hitting $395.59. 1,050,502 shares of the company traded hands, compared to its average volume of 858,210. Fabrinet has a 52 week low of $342.44 and a 52 week high of $748.89. The stock has a 50 day simple moving average of $488.04 and a 200-day simple moving average of $565.57. The company has a market cap of $14.18 billion, a PE ratio of 30.31 and a beta of 1.21.

Fabrinet (NYSE:FN) last announced its quarterly earnings results on Monday, August 17th. The technology company reported $4.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.81 by $0.29. Fabrinet had a net margin of 10.19% and a return on equity of 21.23%. The company had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $1.28 billion. During the same quarter in the previous year, the business posted $2.65 EPS. Fabrinet’s revenue was up 44.6% compared to the same quarter last year. Fabrinet has set its Q1 2027 guidance at 4.100-4.250 EPS. As a group, sell-side analysts anticipate that Fabrinet will post 17.5 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Barclays increased their price target on shares of Fabrinet from $702.00 to $739.00 and gave the company an “overweight” rating in a report on Tuesday, August 18th. Fox Advisors upgraded Fabrinet from an “equal weight” rating to an “overweight” rating in a research note on Wednesday, August 19th. Wall Street Zen downgraded Fabrinet from a “buy” rating to a “hold” rating in a report on Monday, July 20th. Weiss Ratings upgraded shares of Fabrinet from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, August 26th. Finally, JPMorgan Chase & Co. raised their price target on shares of Fabrinet from $680.00 to $695.00 and gave the company a “neutral” rating in a report on Tuesday, August 18th. Seven research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $649.50.

Hedge Funds Weigh In On Fabrinet

Several hedge funds and other institutional investors have recently modified their holdings of the company. Swedbank AB bought a new position in Fabrinet in the fourth quarter valued at about $5,372,000. Great Lakes Advisors LLC bought a new stake in shares of Fabrinet during the 2nd quarter valued at about $3,024,000. JSF Financial LLC purchased a new stake in shares of Fabrinet during the 4th quarter valued at about $957,000. California State Teachers Retirement System increased its position in shares of Fabrinet by 23.0% during the 1st quarter. California State Teachers Retirement System now owns 41,747 shares of the technology company’s stock valued at $21,772,000 after purchasing an additional 7,819 shares during the last quarter. Finally, Sei Investments Co. lifted its stake in shares of Fabrinet by 22.0% in the 1st quarter. Sei Investments Co. now owns 89,843 shares of the technology company’s stock worth $46,854,000 after purchasing an additional 16,218 shares during the period. 97.38% of the stock is owned by institutional investors.

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.