US Bancorp DE Grows Position in Fabrinet $FN

US Bancorp DE grew its stake in shares of Fabrinet (NYSE:FN) by 9.5% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,824 shares of the technology company’s stock after purchasing an additional 679 shares during the quarter. US Bancorp DE’s holdings in Fabrinet were worth $2,306,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Abel Hall LLC purchased a new stake in shares of Fabrinet during the second quarter valued at approximately $304,000. REAP Financial Group LLC boosted its stake in shares of Fabrinet by 171.9% during the second quarter. REAP Financial Group LLC now owns 155 shares of the technology company’s stock valued at $46,000 after purchasing an additional 98 shares during the period. KLP Kapitalforvaltning AS boosted its stake in shares of Fabrinet by 18.4% during the second quarter. KLP Kapitalforvaltning AS now owns 9,000 shares of the technology company’s stock valued at $2,652,000 after purchasing an additional 1,400 shares during the period. Penobscot Investment Management Company Inc. boosted its stake in shares of Fabrinet by 159.0% during the second quarter. Penobscot Investment Management Company Inc. now owns 3,030 shares of the technology company’s stock valued at $893,000 after purchasing an additional 1,860 shares during the period. Finally, Vaughan Nelson Investment Management L.P. boosted its stake in shares of Fabrinet by 178.9% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 133,084 shares of the technology company’s stock valued at $39,217,000 after purchasing an additional 85,359 shares during the period. Hedge funds and other institutional investors own 97.38% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on FN. JPMorgan Chase & Co. raised Fabrinet from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $318.00 to $345.00 in a research note on Monday, August 25th. Needham & Company LLC reaffirmed a “buy” rating and issued a $350.00 price target on shares of Fabrinet in a research note on Tuesday, August 19th. Barclays raised their price target on Fabrinet from $234.00 to $329.00 and gave the stock an “equal weight” rating in a research note on Tuesday, August 19th. B. Riley raised their price target on Fabrinet from $184.00 to $220.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 19th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Fabrinet in a research note on Wednesday, October 8th. Five 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, Fabrinet currently has an average rating of “Moderate Buy” and a consensus target price of $323.17.

Insider Buying and Selling

In other Fabrinet news, EVP Edward T. Archer sold 3,333 shares of the business’s stock in a transaction dated 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 completion of the sale, the executive vice president directly owned 6,644 shares in the company, valued at $2,355,165.12. The trade was a 33.41% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Seamus Grady sold 9,513 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $15,165,828.48. This represents a 17.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 27,049 shares of company stock worth $9,360,401. 0.38% of the stock is owned by corporate insiders.

Fabrinet Stock Performance

NYSE FN opened at $398.13 on Thursday. Fabrinet has a one year low of $148.55 and a one year high of $399.00. The stock has a 50-day moving average of $352.01 and a 200 day moving average of $282.08. The company has a market capitalization of $14.23 billion, a price-to-earnings ratio of 43.37 and a beta of 1.05.

Fabrinet (NYSE:FN) last released its quarterly earnings data on Monday, August 18th. The technology company reported $2.65 EPS for the quarter, topping the consensus estimate of $2.63 by $0.02. Fabrinet had a return on equity of 17.77% and a net margin of 9.72%.The company 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 company earned $2.41 EPS. Fabrinet’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 analysts predict that Fabrinet will post 9.4 earnings per share for the current fiscal 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.