Fabrinet $FN Stake Reduced by Citigroup Inc.

Citigroup Inc. decreased its holdings in shares of Fabrinet (NYSE:FN) by 59.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,164 shares of the technology company’s stock after selling 16,547 shares during the period. Citigroup Inc.’s holdings in Fabrinet were worth $4,071,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Wasatch Advisors LP lifted its stake in Fabrinet by 45.1% during the second quarter. Wasatch Advisors LP now owns 1,779,665 shares of the technology company’s stock valued at $524,432,000 after purchasing an additional 553,196 shares during the last quarter. Norges Bank acquired a new stake in shares of Fabrinet during the 2nd quarter valued at $124,046,000. Invesco Ltd. lifted its position in shares of Fabrinet by 446.6% during the 2nd quarter. Invesco Ltd. now owns 511,553 shares of the technology company’s stock valued at $150,744,000 after acquiring an additional 417,959 shares during the last quarter. Westfield Capital Management Co. LP boosted its stake in shares of Fabrinet by 102.8% during the 2nd 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 in the last quarter. Finally, Epoch Investment Partners Inc. grew its holdings in shares of Fabrinet by 34.1% in the 2nd 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 last quarter. Institutional investors and hedge funds own 97.38% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Weiss Ratings downgraded Fabrinet from a “buy (b)” rating to a “hold (c+)” rating in a report on Friday, February 13th. Rosenblatt Securities reaffirmed a “buy” rating and set a $550.00 price objective on shares of Fabrinet in a research note on Tuesday, February 3rd. Wolfe Research raised shares of Fabrinet from a “peer perform” rating to an “outperform” rating and set a $540.00 target price on the stock in a research report on Wednesday, February 4th. Barclays upped their price target on shares of Fabrinet from $537.00 to $548.00 and gave the company an “overweight” rating in a research report on Tuesday, February 3rd. Finally, Susquehanna raised their price objective on shares of Fabrinet from $550.00 to $570.00 and gave the stock a “positive” rating in a research note on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $541.25.

Fabrinet Price Performance

FN opened at $565.93 on Thursday. The company has a market capitalization of $20.28 billion, a PE ratio of 54.21 and a beta of 1.01. Fabrinet has a fifty-two week low of $148.55 and a fifty-two week high of $632.99. The business has a 50-day moving average of $494.37 and a 200-day moving average of $435.33.

Fabrinet (NYSE:FN) last released its quarterly earnings data on Monday, February 2nd. The technology company reported $3.36 EPS for the quarter, topping analysts’ consensus estimates of $3.26 by $0.10. The firm had revenue of $1.13 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.61 earnings per share. Fabrinet has set its Q3 2026 guidance at 3.450-3.600 EPS. On average, equities research analysts expect that Fabrinet will post 9.4 earnings per share for the current fiscal year.

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.