Neuberger Berman Group LLC Sells 8,480 Shares of Fabrinet $FN

Neuberger Berman Group LLC cut its stake in shares of Fabrinet (NYSE:FN) by 8.5% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 91,495 shares of the technology company’s stock after selling 8,480 shares during the quarter. Neuberger Berman Group LLC’s holdings in Fabrinet were worth $33,352,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Ashton Thomas Private Wealth LLC bought a new stake in Fabrinet during the 1st quarter worth $203,000. Empowered Funds LLC bought a new stake in shares of Fabrinet during the first quarter worth about $2,331,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Fabrinet by 4.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 79,444 shares of the technology company’s stock valued at $15,691,000 after buying an additional 3,717 shares during the period. Bank of New York Mellon Corp raised its holdings in Fabrinet by 2.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 287,159 shares of the technology company’s stock valued at $84,620,000 after buying an additional 7,032 shares during the last quarter. Finally, First Horizon Advisors Inc. raised its holdings in Fabrinet by 124.2% in the 2nd quarter. First Horizon Advisors Inc. now owns 139 shares of the technology company’s stock valued at $41,000 after buying an additional 77 shares during the last quarter. Institutional investors and hedge funds own 97.38% of the company’s stock.

Fabrinet Stock Down 10.1%

NYSE:FN opened at $489.66 on Friday. Fabrinet has a twelve month low of $148.55 and a twelve month high of $632.99. The company has a fifty day moving average of $495.79 and a 200-day moving average of $438.28. The firm has a market capitalization of $17.54 billion, a P/E ratio of 46.90 and a beta of 1.01.

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

Wall Street Analysts Forecast Growth

FN has been the topic of a number of research reports. Rosenblatt Securities reissued a “buy” rating and set a $550.00 target price on shares of Fabrinet in a report on Tuesday, February 3rd. Zacks Research upgraded shares of Fabrinet from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 5th. Weiss Ratings cut shares of Fabrinet from a “buy (b)” rating to a “hold (c+)” rating in a research note on Friday, February 13th. B. Riley Financial increased their price objective on Fabrinet from $366.00 to $452.00 and gave the company a “neutral” rating in a report on Tuesday, February 3rd. Finally, Northland Securities set a $600.00 target price on Fabrinet in a research report on Monday, December 22nd. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, Fabrinet currently has an average rating of “Moderate Buy” and an average price target 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.