Principal Financial Group Inc. Purchases 28,166 Shares of Fabrinet $FN

Principal Financial Group Inc. grew its position in shares of Fabrinet (NYSE:FN) by 15.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 216,049 shares of the technology company’s stock after purchasing an additional 28,166 shares during the quarter. Principal Financial Group Inc. owned approximately 0.60% of Fabrinet worth $112,674,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD raised its holdings in Fabrinet by 163.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 4,041,227 shares of the technology company’s stock valued at $1,839,891,000 after buying an additional 2,504,841 shares during the last quarter. Wasatch Advisors LP grew its holdings in Fabrinet by 45.1% during the 2nd quarter. Wasatch Advisors LP now owns 1,779,665 shares of the technology company’s stock worth $524,432,000 after acquiring an additional 553,196 shares during the last quarter. Geode Capital Management LLC increased its position in Fabrinet by 4.8% in the 4th quarter. Geode Capital Management LLC now owns 1,108,813 shares of the technology company’s stock valued at $504,886,000 after acquiring an additional 50,708 shares during the period. JPMorgan Chase & Co. raised its stake 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 acquiring an additional 419,081 shares during the last quarter. Finally, Invesco Ltd. raised its stake in shares of Fabrinet by 33.3% during the third quarter. Invesco Ltd. now owns 681,850 shares of the technology company’s stock valued at $248,616,000 after acquiring an additional 170,297 shares during the last quarter. 97.38% of the stock is currently owned by institutional investors.

Fabrinet Stock Performance

Fabrinet stock opened at $487.42 on Thursday. The stock has a market capitalization of $17.46 billion, a price-to-earnings ratio of 41.87 and a beta of 1.20. Fabrinet has a 52-week low of $272.49 and a 52-week high of $748.89. The stock’s 50 day moving average price is $604.21 and its two-hundred day moving average price is $563.94.

Fabrinet (NYSE:FN) last released its quarterly earnings data on Monday, May 4th. The technology company reported $3.72 earnings per share for the quarter, beating the consensus estimate of $3.58 by $0.14. Fabrinet had a net margin of 9.94% and a return on equity of 19.83%. The company had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same quarter in the previous year, the business posted $2.52 EPS. Fabrinet’s revenue for the quarter was up 39.3% compared to the same quarter last year. Fabrinet has set its Q4 2026 guidance at 3.720-3.870 EPS. On average, equities research analysts forecast that Fabrinet will post 12.96 EPS for the current year.

Analyst Upgrades and Downgrades

FN has been the topic of several analyst reports. Weiss Ratings cut shares of Fabrinet from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, June 30th. Fox Advisors downgraded Fabrinet from a “strong-buy” rating to an “equal weight” rating in a report on Tuesday, May 5th. JPMorgan Chase & Co. decreased their price target on Fabrinet from $700.00 to $680.00 and set a “neutral” rating for the company in a research note on Tuesday, May 5th. Wall Street Zen raised Fabrinet from a “hold” rating to a “buy” rating in a research note on Sunday. Finally, Needham & Company LLC reissued a “buy” rating and set a $800.00 target price on shares of Fabrinet in a research report on Tuesday, May 5th. Six equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $661.75.

Insider Buying and Selling

In other Fabrinet news, Director Homa Bahrami sold 2,500 shares of Fabrinet stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $711.91, for a total value of $1,779,775.00. Following the completion of the sale, the director directly owned 16,233 shares of the company’s stock, valued at approximately $11,556,435.03. The trade was a 13.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.24% of the company’s stock.

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.