Wellington Management Group LLP Trims Stake in Fabrinet $FN

Wellington Management Group LLP reduced its stake in Fabrinet (NYSE:FN) by 66.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 128,330 shares of the technology company’s stock after selling 251,955 shares during the quarter. Wellington Management Group LLP owned about 0.36% of Fabrinet worth $72,132,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Fabrinet during the first quarter worth $203,000. Empowered Funds LLC purchased a new stake in shares of Fabrinet during the 1st quarter worth about $2,331,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Fabrinet by 4.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 79,444 shares of the technology company’s stock worth $15,691,000 after buying an additional 3,717 shares during the period. M&T Bank Corp acquired a new stake in Fabrinet in the 2nd quarter valued at $214,000. Finally, EverSource Wealth Advisors LLC grew its stake in shares of Fabrinet by 574.7% in the second quarter. EverSource Wealth Advisors LLC now owns 533 shares of the technology company’s stock valued at $157,000 after buying an additional 454 shares in the last quarter. Institutional investors and hedge funds own 97.38% of the company’s stock.

Fabrinet Stock Down 1.8%

NYSE:FN opened at $394.93 on Thursday. The stock has a fifty day simple moving average of $488.04 and a 200 day simple moving average of $565.57. The firm has a market capitalization of $14.15 billion, a price-to-earnings ratio of 30.26 and a beta of 1.21. Fabrinet has a 1-year low of $333.05 and a 1-year high of $748.89.

Fabrinet (NYSE:FN) last issued its quarterly earnings results on Monday, August 17th. The technology company reported $4.10 EPS for the quarter, beating the consensus estimate of $3.81 by $0.29. Fabrinet had a net margin of 10.19% and a return on equity of 21.23%. The business had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.28 billion. During the same quarter in the prior year, the firm earned $2.65 EPS. The firm’s quarterly revenue was up 44.6% on a year-over-year basis. Fabrinet has set its Q1 2027 guidance at 4.100-4.250 EPS. Equities analysts predict that Fabrinet will post 17.5 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on FN. Fox Advisors raised shares of Fabrinet from an “equal weight” rating to an “overweight” rating in a report on Wednesday, August 19th. Needham & Company LLC reiterated a “buy” rating and issued a $650.00 price target on shares of Fabrinet in a report on Tuesday, August 18th. Zacks Research lowered shares of Fabrinet from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 15th. JPMorgan Chase & Co. increased their target price on Fabrinet from $680.00 to $695.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 18th. Finally, Wall Street Zen cut Fabrinet from a “buy” rating to a “hold” rating in a report on Monday, July 20th. Seven analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Fabrinet currently has an average rating of “Moderate Buy” and an average price target of $649.50.

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.