Bank of New York Mellon Corp Cuts Stake in Fabrinet $FN

Bank of New York Mellon Corp lessened its holdings in shares of Fabrinet (NYSE:FN) by 1.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 254,587 shares of the technology company’s stock after selling 3,526 shares during the quarter. Bank of New York Mellon Corp owned about 0.71% of Fabrinet worth $132,772,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. Swedbank AB bought a new stake in shares of Fabrinet in the fourth quarter worth about $5,372,000. M&T Bank Corp boosted its stake in Fabrinet by 196.5% during the fourth quarter. M&T Bank Corp now owns 2,345 shares of the technology company’s stock valued at $1,068,000 after buying an additional 1,554 shares during the last quarter. JSF Financial LLC bought a new position in Fabrinet during the fourth quarter valued at approximately $957,000. Principal Financial Group Inc. grew its holdings in Fabrinet by 4.0% during the 4th quarter. Principal Financial Group Inc. now owns 187,883 shares of the technology company’s stock valued at $85,539,000 after buying an additional 7,233 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in Fabrinet by 117.7% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,979 shares of the technology company’s stock valued at $3,633,000 after buying an additional 4,314 shares in the last quarter. 97.38% of the stock is owned by hedge funds and other institutional investors.

Fabrinet Price Performance

Shares of FN opened at $476.68 on Monday. The firm has a market capitalization of $17.08 billion, a price-to-earnings ratio of 40.95 and a beta of 1.20. Fabrinet has a 1-year low of $272.49 and a 1-year high of $748.89. The company has a 50-day moving average of $598.02 and a 200 day moving average of $563.85.

Fabrinet (NYSE:FN) last issued its earnings results on Monday, May 4th. The technology company reported $3.72 EPS for the quarter, topping analysts’ consensus estimates of $3.58 by $0.14. Fabrinet had a net margin of 9.94% and a return on equity of 19.83%. The business had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.19 billion. During the same period in the prior year, the firm earned $2.52 EPS. The company’s revenue for the quarter was up 39.3% compared to the same quarter last year. Fabrinet has set its Q4 2026 guidance at 3.720-3.870 EPS. On average, equities analysts anticipate that Fabrinet will post 12.97 earnings per share for the current fiscal year.

Insider Transactions at Fabrinet

In other Fabrinet news, Director Homa Bahrami sold 2,500 shares of Fabrinet stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $711.91, for a total value of $1,779,775.00. Following the transaction, the director owned 16,233 shares in the company, valued at $11,556,435.03. The trade was a 13.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.24% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Rosenblatt Securities upped their price target on shares of Fabrinet from $715.00 to $750.00 and gave the company a “buy” rating in a research note on Tuesday, May 5th. JPMorgan Chase & Co. reduced their target price on shares of Fabrinet from $700.00 to $680.00 and set a “neutral” rating on the stock in a report on Tuesday, May 5th. Northland Securities set a $800.00 target price on shares of Fabrinet in a research report on Monday, April 20th. Needham & Company LLC reiterated a “buy” rating and issued a $800.00 price target on shares of Fabrinet in a research report on Tuesday, May 5th. Finally, Fox Advisors downgraded Fabrinet from a “strong-buy” rating to an “equal weight” rating in a research report on Tuesday, May 5th. Six equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $661.75.

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.