New York State Teachers Retirement System Sells 1,066 Shares of Fabrinet $FN

New York State Teachers Retirement System trimmed its holdings in shares of Fabrinet (NYSE:FN) by 4.0% in the first quarter, Holdings Channel.com reports. The fund owned 25,755 shares of the technology company’s stock after selling 1,066 shares during the quarter. New York State Teachers Retirement System’s holdings in Fabrinet were worth $13,432,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Divisadero Street Capital Management LP grew its position in Fabrinet by 57.4% during the 3rd quarter. Divisadero Street Capital Management LP now owns 56,344 shares of the technology company’s stock worth $20,544,000 after acquiring an additional 20,556 shares during the last quarter. Swedbank AB bought a new position in Fabrinet in the 4th quarter valued at $5,372,000. M&T Bank Corp boosted its stake in Fabrinet by 196.5% in the fourth quarter. M&T Bank Corp now owns 2,345 shares of the technology company’s stock worth $1,068,000 after purchasing an additional 1,554 shares in the last quarter. Munich Reinsurance Co Stock Corp in Munich bought a new stake in shares of Fabrinet during the third quarter worth $2,923,000. Finally, JSF Financial LLC bought a new stake in shares of Fabrinet during the fourth quarter worth $957,000. 97.38% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on FN. JPMorgan Chase & Co. cut their price target on Fabrinet from $700.00 to $680.00 and set a “neutral” rating for the company in a report on Tuesday, May 5th. Zacks Research lowered shares of Fabrinet from a “strong-buy” rating to a “hold” rating in a report on Monday, June 15th. Northland Securities set a $800.00 target price on shares of Fabrinet in a research note on Monday, April 20th. Needham & Company LLC reaffirmed a “buy” rating and issued a $800.00 target price on shares of Fabrinet in a research note on Tuesday, May 5th. Finally, Fox Advisors lowered shares of 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. Based on data from MarketBeat, Fabrinet presently has a consensus rating of “Moderate Buy” and an average target price of $661.75.

Insiders Place Their Bets

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

Fabrinet Stock Down 0.1%

NYSE:FN opened at $498.93 on Monday. Fabrinet has a 12-month low of $272.49 and a 12-month high of $748.89. The stock’s fifty day simple moving average is $635.20 and its 200-day simple moving average is $563.24. The firm has a market capitalization of $17.88 billion, a P/E ratio of 42.86 and a beta of 1.20.

Fabrinet (NYSE:FN) last released its quarterly earnings data on Monday, May 4th. The technology company reported $3.72 EPS for the quarter, beating 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 business had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter in the prior year, the company posted $2.52 earnings per share. The firm’s revenue was up 39.3% on a year-over-year basis. Fabrinet has set its Q4 2026 guidance at 3.720-3.870 EPS. As a group, equities research analysts expect that Fabrinet will post 12.96 earnings per share for the current 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.