Zweig DiMenna Associates LLC Makes New Investment in Fabrinet $FN

Zweig DiMenna Associates LLC purchased a new stake in Fabrinet (NYSE:FN) in the 1st quarter, HoldingsChannel.com reports. The institutional investor purchased 12,900 shares of the technology company’s stock, valued at approximately $6,728,000.

Several other large investors have also recently modified their holdings of the business. Price T Rowe Associates Inc. MD lifted its holdings in shares of Fabrinet by 163.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,041,227 shares of the technology company’s stock worth $1,839,891,000 after purchasing an additional 2,504,841 shares during the period. Wasatch Advisors LP increased its holdings in Fabrinet by 45.1% in 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 period. Norges Bank bought a new position in Fabrinet during the 4th quarter worth $193,766,000. JPMorgan Chase & Co. raised its position in Fabrinet by 64.8% during the 4th quarter. JPMorgan Chase & Co. now owns 1,065,414 shares of the technology company’s stock worth $485,063,000 after purchasing an additional 419,081 shares during the last quarter. Finally, Alliancebernstein L.P. lifted its holdings in Fabrinet by 226.1% during the 3rd quarter. Alliancebernstein L.P. now owns 499,177 shares of the technology company’s stock worth $182,010,000 after buying an additional 346,113 shares during the period. Institutional investors own 97.38% of the company’s stock.

Insider Activity at Fabrinet

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

Fabrinet Trading Up 1.6%

Shares of FN opened at $482.07 on Wednesday. The stock has a market capitalization of $17.27 billion, a P/E ratio of 41.41 and a beta of 1.20. The firm’s fifty day simple moving average is $607.99 and its two-hundred day simple moving average is $563.93. Fabrinet has a 12 month low of $272.49 and a 12 month high of $748.89.

Fabrinet (NYSE:FN) last issued its quarterly earnings results on Monday, May 4th. The technology company reported $3.72 earnings per share for the quarter, topping analysts’ consensus estimates of $3.58 by $0.14. Fabrinet had a return on equity of 19.83% and a net margin of 9.94%.The firm had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same period last year, the business posted $2.52 EPS. The business’s revenue was up 39.3% compared to the same quarter last year. Fabrinet has set its Q4 2026 guidance at 3.720-3.870 EPS. As a group, research analysts predict that Fabrinet will post 12.96 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have commented on FN shares. Wall Street Zen upgraded Fabrinet from a “hold” rating to a “buy” rating in a research report on Sunday. Fox Advisors downgraded Fabrinet from a “strong-buy” rating to an “equal weight” rating in a research report on Tuesday, May 5th. Barclays lifted their price objective on Fabrinet from $548.00 to $702.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 5th. JPMorgan Chase & Co. reduced their target price on Fabrinet from $700.00 to $680.00 and set a “neutral” rating on the stock in a report on Tuesday, May 5th. Finally, Zacks Research downgraded shares of Fabrinet from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 15th. Six equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $661.75.

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.