Great Lakes Advisors LLC Buys New Position in Fabrinet $FN

Great Lakes Advisors LLC bought a new stake in Fabrinet (NYSE:FN) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 5,380 shares of the technology company’s stock, valued at approximately $3,024,000.

Other hedge funds also recently modified their holdings of the company. Wedge Capital Management L L P NC grew its holdings in shares of Fabrinet by 11.5% during the second quarter. Wedge Capital Management L L P NC now owns 128,795 shares of the technology company’s stock worth $72,393,000 after buying an additional 13,245 shares in the last quarter. Handelsbanken Fonder AB lifted its stake in shares of Fabrinet by 1.8% during the second quarter. Handelsbanken Fonder AB now owns 11,566 shares of the technology company’s stock valued at $6,501,000 after buying an additional 200 shares during the period. Fulton Bank N.A. acquired a new stake in Fabrinet during the second quarter worth approximately $280,000. Kopp Family Office LLC acquired a new stake in Fabrinet during the second quarter worth approximately $350,000. Finally, Assenagon Asset Management S.A. purchased a new stake in Fabrinet in the 2nd quarter worth approximately $505,000. 97.38% of the stock is owned by institutional investors and hedge funds.

Fabrinet Stock Down 2.2%

NYSE:FN opened at $444.54 on Friday. The company has a market cap of $15.93 billion, a P/E ratio of 34.06 and a beta of 1.23. Fabrinet has a fifty-two week low of $272.49 and a fifty-two week high of $748.89. The firm’s 50 day moving average is $519.11 and its two-hundred day moving average is $568.63.

Fabrinet (NYSE:FN) last announced its quarterly earnings results on Monday, August 17th. The technology company reported $4.10 earnings per share for the quarter, beating analysts’ consensus estimates of $3.81 by $0.29. The company had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.28 billion. Fabrinet had a net margin of 10.19% and a return on equity of 21.23%. Fabrinet’s revenue for the quarter was up 44.6% on a year-over-year basis. During the same quarter last year, the business earned $2.65 EPS. Fabrinet has set its Q1 2027 guidance at 4.100-4.250 EPS. Research analysts forecast that Fabrinet will post 16.46 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have weighed in on FN. Rosenblatt Securities reiterated a “buy” rating and issued a $750.00 price target on shares of Fabrinet in a report on Tuesday. Fox Advisors upgraded Fabrinet from an “equal weight” rating to an “overweight” rating in a research note on Wednesday. Weiss Ratings downgraded Fabrinet from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, August 12th. Wall Street Zen lowered Fabrinet from a “buy” rating to a “hold” rating in a research note on Monday, July 20th. Finally, JPMorgan Chase & Co. lifted their price target on Fabrinet from $680.00 to $695.00 and gave the company a “neutral” rating in a report on Tuesday. Six research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $649.50.

Fabrinet 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.