US Bancorp DE Buys 679 Shares of Fabrinet $FN

US Bancorp DE lifted its stake in shares of Fabrinet (NYSE:FN) by 9.5% in the second quarter, HoldingsChannel reports. The fund owned 7,824 shares of the technology company’s stock after acquiring an additional 679 shares during the period. US Bancorp DE’s holdings in Fabrinet were worth $2,306,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Maseco LLP bought a new position in shares of Fabrinet during the 2nd quarter valued at approximately $25,000. Banque Cantonale Vaudoise bought a new position in shares of Fabrinet during the 1st quarter valued at approximately $29,000. Berbice Capital Management LLC bought a new position in shares of Fabrinet during the 1st quarter valued at approximately $30,000. Wayfinding Financial LLC bought a new position in shares of Fabrinet during the 1st quarter valued at approximately $30,000. Finally, REAP Financial Group LLC grew its stake in shares of Fabrinet by 171.9% during the 2nd quarter. REAP Financial Group LLC now owns 155 shares of the technology company’s stock valued at $46,000 after acquiring an additional 98 shares during the period. 97.38% of the stock is currently owned by institutional investors.

Insider Transactions at Fabrinet

In related news, EVP Edward T. Archer sold 3,333 shares of the stock in a transaction on Thursday, September 4th. The stock was 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 position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Seamus Grady sold 9,513 shares of the stock in a transaction on 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 owned 46,024 shares in the company, valued at $15,165,828.48. The trade was a 17.13% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 27,049 shares of company stock valued at $9,360,401 in the last ninety days. Corporate insiders own 0.38% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Zacks Research downgraded Fabrinet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 28th. Barclays boosted their price objective on Fabrinet from $234.00 to $329.00 and gave the company an “equal weight” rating in a research note on Tuesday, August 19th. Rosenblatt Securities boosted their price target on Fabrinet from $360.00 to $425.00 and gave the stock a “buy” rating in a report on Thursday, October 2nd. B. Riley boosted their price target on Fabrinet from $184.00 to $220.00 and gave the stock a “neutral” rating in a report on Tuesday, August 19th. Finally, Wolfe Research started coverage on Fabrinet in a report on Tuesday, July 8th. They issued a “peer perform” rating on the stock. Five research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $323.17.

Fabrinet Price Performance

Shares of FN opened at $398.13 on Thursday. The stock has a market capitalization of $14.23 billion, a price-to-earnings ratio of 43.37 and a beta of 1.05. Fabrinet has a 1 year low of $148.55 and a 1 year high of $399.00. The business’s 50 day simple moving average is $352.01 and its 200-day simple moving average is $282.08.

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

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.