Paradigm Capital Management Inc. NY Buys New Holdings in Fabrinet $FN

Paradigm Capital Management Inc. NY purchased a new position in shares of Fabrinet (NYSE:FN) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 530,500 shares of the technology company’s stock, valued at approximately $298,183,000. Fabrinet comprises about 8.1% of Paradigm Capital Management Inc. NY’s portfolio, making the stock its 4th biggest position.

Other large investors also recently modified their holdings of the company. Great Lakes Advisors LLC acquired a new position in shares of Fabrinet in the 2nd quarter valued at about $3,024,000. Wedge Capital Management L L P NC increased its position in Fabrinet by 11.5% during the 2nd quarter. Wedge Capital Management L L P NC now owns 128,795 shares of the technology company’s stock worth $72,393,000 after purchasing an additional 13,245 shares in the last quarter. Handelsbanken Fonder AB raised its holdings in Fabrinet by 1.8% in 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. purchased a new position in Fabrinet in the second quarter valued at approximately $280,000. Finally, Kopp Family Office LLC acquired a new position in Fabrinet during the second quarter valued at approximately $350,000. 97.38% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

FN has been the subject of several research reports. Zacks Research downgraded shares of Fabrinet from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 15th. Needham & Company LLC restated a “buy” rating and set a $650.00 target price on shares of Fabrinet in a report on Tuesday, August 18th. Barclays upped their price target on shares of Fabrinet from $702.00 to $739.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 18th. Weiss Ratings downgraded Fabrinet from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, August 12th. Finally, JPMorgan Chase & Co. raised their price objective on Fabrinet from $680.00 to $695.00 and gave the company a “neutral” rating in a research report on Tuesday, August 18th. Six analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Fabrinet presently has an average rating of “Moderate Buy” and an average price target of $649.50.

Fabrinet Stock Down 3.5%

NYSE FN opened at $421.19 on Tuesday. Fabrinet has a fifty-two week low of $303.10 and a fifty-two week high of $748.89. The business has a 50 day moving average price of $511.39 and a two-hundred day moving average price of $567.99. The stock has a market cap of $15.09 billion, a PE ratio of 32.27 and a beta of 1.23.

Fabrinet (NYSE:FN) last posted its earnings results on Monday, August 17th. The technology company reported $4.10 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 business had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $1.28 billion. During the same period in the previous year, the company posted $2.65 earnings per share. The business’s revenue for the quarter was up 44.6% compared to the same quarter last year. Fabrinet has set its Q1 2027 guidance at 4.100-4.250 EPS. Sell-side analysts anticipate that Fabrinet will post 16.46 EPS for the current fiscal year.

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.