Envestnet Asset Management Inc. Sells 12,522 Shares of Fabrinet $FN

Envestnet Asset Management Inc. lowered its holdings in shares of Fabrinet (NYSE:FN) by 12.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 90,623 shares of the technology company’s stock after selling 12,522 shares during the period. Envestnet Asset Management Inc. owned about 0.25% of Fabrinet worth $33,043,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Wasatch Advisors LP raised its position in Fabrinet by 45.1% during the 2nd quarter. Wasatch Advisors LP now owns 1,779,665 shares of the technology company’s stock worth $524,432,000 after purchasing an additional 553,196 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Fabrinet by 0.5% in the second quarter. Geode Capital Management LLC now owns 1,051,108 shares of the technology company’s stock valued at $309,771,000 after buying an additional 5,114 shares during the period. Westfield Capital Management Co. LP raised its position in shares of Fabrinet by 102.8% during the second quarter. Westfield Capital Management Co. LP now owns 663,310 shares of the technology company’s stock worth $195,464,000 after acquiring an additional 336,173 shares during the last quarter. TD Asset Management Inc lifted its stake in shares of Fabrinet by 25.4% in the second quarter. TD Asset Management Inc now owns 599,337 shares of the technology company’s stock worth $176,613,000 after acquiring an additional 121,233 shares during the period. Finally, Epoch Investment Partners Inc. lifted its stake in shares of Fabrinet by 34.1% in the second quarter. Epoch Investment Partners Inc. now owns 522,027 shares of the technology company’s stock worth $153,831,000 after acquiring an additional 132,780 shares during the period. Institutional investors own 97.38% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on FN shares. B. Riley Financial raised their price target on shares of Fabrinet from $366.00 to $452.00 and gave the stock a “neutral” rating in a report on Tuesday, February 3rd. Barclays increased their price objective on shares of Fabrinet from $537.00 to $548.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 3rd. Wolfe Research upgraded shares of Fabrinet from a “peer perform” rating to an “outperform” rating and set a $540.00 target price on the stock in a report on Wednesday, February 4th. Rosenblatt Securities reaffirmed a “buy” rating and set a $550.00 price target on shares of Fabrinet in a research report on Tuesday, February 3rd. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Fabrinet in a research report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $511.11.

Fabrinet Price Performance

FN stock opened at $466.11 on Thursday. The company’s 50-day moving average is $476.00 and its 200-day moving average is $413.20. The stock has a market capitalization of $16.70 billion, a PE ratio of 44.65 and a beta of 1.04. Fabrinet has a 1 year low of $148.55 and a 1 year high of $531.22.

Fabrinet (NYSE:FN) last issued its earnings results on Monday, February 2nd. The technology company reported $3.36 EPS for the quarter, beating analysts’ consensus estimates of $3.26 by $0.10. The business had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.08 billion. Fabrinet had a return on equity of 18.69% and a net margin of 9.69%.The firm’s revenue was up 35.9% compared to the same quarter last year. During the same period in the previous year, the company posted $2.61 EPS. Fabrinet has set its Q3 2026 guidance at 3.450-3.600 EPS. On average, analysts anticipate that Fabrinet will post 9.4 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Seamus Grady sold 22,451 shares of the firm’s stock in a transaction dated Wednesday, November 26th. The shares were sold at an average price of $446.95, for a total value of $10,034,474.45. Following the transaction, the chief executive officer owned 23,573 shares of the company’s stock, valued at approximately $10,535,952.35. This trade represents a 48.78% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Thomas F. Kelly sold 2,200 shares of the business’s stock in a transaction that occurred on Thursday, December 4th. The stock was sold at an average price of $464.14, for a total value of $1,021,108.00. Following the sale, the director directly owned 18,789 shares of the company’s stock, valued at $8,720,726.46. This represents a 10.48% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 28,151 shares of company stock worth $12,643,707 over the last three months. 0.24% of the stock is currently owned by insiders.

About Fabrinet

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.