Fred Alger Management LLC Raises Holdings in Fabrinet $FN

Fred Alger Management LLC lifted its holdings in Fabrinet (NYSE:FN) by 139.6% in the 3rd quarter, Holdings Channel reports. The firm owned 42,625 shares of the technology company’s stock after acquiring an additional 24,838 shares during the period. Fred Alger Management LLC’s holdings in Fabrinet were worth $15,542,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of FN. Divisadero Street Capital Management LP raised its position in Fabrinet by 57.4% in the 3rd quarter. Divisadero Street Capital Management LP now owns 56,344 shares of the technology company’s stock worth $20,544,000 after buying an additional 20,556 shares during the last quarter. Azzad Asset Management Inc. ADV purchased a new stake in shares of Fabrinet during the 3rd quarter valued at about $1,037,000. Federated Hermes Inc. grew its stake in shares of Fabrinet by 105.2% in the third quarter. Federated Hermes Inc. now owns 5,982 shares of the technology company’s stock worth $2,181,000 after acquiring an additional 3,067 shares during the period. Argent Capital Management LLC bought a new stake in shares of Fabrinet in the third quarter worth approximately $4,931,000. Finally, Torray Investment Partners LLC purchased a new position in shares of Fabrinet during the third quarter valued at approximately $2,458,000. 97.38% of the stock is owned by institutional investors.

Fabrinet Price Performance

Shares of FN stock opened at $514.10 on Tuesday. Fabrinet has a 1 year low of $148.55 and a 1 year high of $632.99. The firm has a fifty day moving average price of $502.67 and a 200-day moving average price of $448.00. The company has a market cap of $18.42 billion, a price-to-earnings ratio of 49.24 and a beta of 1.01.

Fabrinet (NYSE:FN) last announced its earnings results 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 company had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.08 billion. Fabrinet had a return on equity of 18.69% and a net margin of 9.69%.Fabrinet’s revenue for the quarter was up 35.9% compared to the same quarter last year. During the same period last year, the firm earned $2.61 EPS. Fabrinet has set its Q3 2026 guidance at 3.450-3.600 EPS. Equities research analysts expect that Fabrinet will post 9.4 EPS for the current year.

Analysts Set New Price Targets

Several brokerages recently issued reports on FN. Barclays raised their target price on shares of Fabrinet from $537.00 to $548.00 and gave the stock an “overweight” rating in a report on Tuesday, February 3rd. Susquehanna increased their price target on Fabrinet from $550.00 to $570.00 and gave the company a “positive” rating in a report on Thursday, January 22nd. Northland Securities set a $600.00 price target on Fabrinet in a report on Monday, December 22nd. Wolfe Research upgraded Fabrinet from a “peer perform” rating to an “outperform” rating and set a $540.00 price target on the stock in a research note on Wednesday, February 4th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $540.00 price objective on shares of Fabrinet in a report on Tuesday, February 3rd. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $541.25.

Fabrinet Company 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.