South Dakota Investment Council Acquires Shares of 3,570 Fabrinet $FN

South Dakota Investment Council acquired a new position in shares of Fabrinet (NYSE:FN) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 3,570 shares of the technology company’s stock, valued at approximately $1,862,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Price T Rowe Associates Inc. MD lifted its position 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 last quarter. Wasatch Advisors LP grew its stake in Fabrinet by 45.1% in the second quarter. Wasatch Advisors LP now owns 1,779,665 shares of the technology company’s stock worth $524,432,000 after purchasing an additional 553,196 shares in the last quarter. Geode Capital Management LLC increased its holdings in Fabrinet by 4.8% in the fourth quarter. Geode Capital Management LLC now owns 1,108,813 shares of the technology company’s stock valued at $504,886,000 after buying an additional 50,708 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in Fabrinet by 64.8% in the fourth quarter. JPMorgan Chase & Co. now owns 1,065,414 shares of the technology company’s stock valued at $485,063,000 after buying an additional 419,081 shares during the last quarter. Finally, Invesco Ltd. raised its stake in Fabrinet by 33.3% during the third quarter. Invesco Ltd. now owns 681,850 shares of the technology company’s stock valued at $248,616,000 after buying an additional 170,297 shares in the last quarter. Institutional investors own 97.38% of the company’s stock.

Fabrinet Stock Performance

Fabrinet stock opened at $437.60 on Friday. Fabrinet has a one year low of $272.49 and a one year high of $748.89. The company has a 50-day simple moving average of $555.01 and a 200-day simple moving average of $564.06. The firm has a market capitalization of $15.68 billion, a P/E ratio of 37.59 and a beta of 1.20.

Fabrinet (NYSE:FN) last issued its quarterly earnings data on Monday, May 4th. The technology company reported $3.72 earnings per share for the quarter, beating the consensus estimate of $3.58 by $0.14. The firm had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.19 billion. Fabrinet had a net margin of 9.94% and a return on equity of 19.83%. Fabrinet’s quarterly revenue was up 39.3% compared to the same quarter last year. During the same period last year, the firm posted $2.52 EPS. Fabrinet has set its Q4 2026 guidance at 3.720-3.870 EPS. As a group, sell-side analysts forecast that Fabrinet will post 12.97 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have commented on FN shares. Needham & Company LLC reduced their target price on Fabrinet from $800.00 to $650.00 and set a “buy” rating on the stock in a report on Wednesday, July 22nd. Northland Securities set a $800.00 price target on Fabrinet in a report on Monday, April 20th. Rosenblatt Securities upped their price target on Fabrinet from $715.00 to $750.00 and gave the company a “buy” rating in a research report on Tuesday, May 5th. JPMorgan Chase & Co. reduced their price objective on Fabrinet from $700.00 to $680.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 5th. Finally, Fox Advisors downgraded shares of Fabrinet from a “strong-buy” rating to an “equal weight” rating in a report on Tuesday, May 5th. Six research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $643.00.

Insider Activity at Fabrinet

In other Fabrinet news, Director Homa Bahrami sold 2,500 shares of the firm’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $711.91, for a total value of $1,779,775.00. Following the sale, the director owned 16,233 shares in the company, valued at approximately $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 Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.24% of the company’s stock.

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.