Truist Financial Corp Cuts Stake in Fabrinet $FN

Truist Financial Corp lowered its position in shares of Fabrinet (NYSE:FN) by 4.6% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,531 shares of the technology company’s stock after selling 264 shares during the quarter. Truist Financial Corp’s holdings in Fabrinet were worth $1,630,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Maseco LLP purchased a new position in Fabrinet during the 2nd quarter worth $25,000. Banque Cantonale Vaudoise purchased a new position in Fabrinet during the 1st quarter worth $29,000. Berbice Capital Management LLC purchased a new position in Fabrinet during the 1st quarter worth $30,000. Wayfinding Financial LLC purchased a new position in Fabrinet during the 1st quarter worth $30,000. Finally, Private Trust Co. NA raised its position in Fabrinet by 44.3% during the 1st quarter. Private Trust Co. NA now owns 166 shares of the technology company’s stock worth $33,000 after buying an additional 51 shares during the last quarter. Hedge funds and other institutional investors own 97.38% of the company’s stock.

Insider Buying and Selling at Fabrinet

In other Fabrinet news, CEO Seamus Grady sold 9,513 shares of the firm’s stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $329.52, for a total transaction of $3,134,723.76. Following the completion of the transaction, the chief executive officer directly owned 46,024 shares in the company, valued at approximately $15,165,828.48. This trade represents a 17.13% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Edward T. Archer sold 3,333 shares of the firm’s stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $354.48, for a total transaction of $1,181,481.84. Following the transaction, the executive vice president owned 6,644 shares of the company’s stock, valued at $2,355,165.12. This trade represents a 33.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 27,049 shares of company stock worth $9,360,401. 0.38% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

FN has been the subject of a number of analyst reports. JPMorgan Chase & Co. upgraded shares of Fabrinet from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $318.00 to $345.00 in a research report on Monday, August 25th. Wolfe Research assumed coverage on shares of Fabrinet in a report on Tuesday, July 8th. They issued a “peer perform” rating for the company. Barclays increased their price target on shares of Fabrinet from $234.00 to $329.00 and gave the company an “equal weight” rating in a report on Tuesday, August 19th. Rosenblatt Securities increased their price target on shares of Fabrinet from $360.00 to $425.00 and gave the company a “buy” rating in a report on Thursday, October 2nd. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $350.00 price target on shares of Fabrinet in a report on Tuesday, August 19th. Five investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $323.17.

Fabrinet Trading Down 5.1%

NYSE:FN opened at $362.92 on Friday. The firm has a 50-day moving average price of $348.70 and a two-hundred day moving average price of $278.81. Fabrinet has a twelve month low of $148.55 and a twelve month high of $397.26. The company has a market capitalization of $12.97 billion, a P/E ratio of 39.53 and a beta of 1.05.

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

Fabrinet Company Profile

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.