Bowen Hanes & Co. Inc. Buys New Stake in Fabrinet $FN

Bowen Hanes & Co. Inc. bought a new stake in shares of Fabrinet (NYSE:FN) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 50,000 shares of the technology company’s stock, valued at approximately $22,764,000. Bowen Hanes & Co. Inc. owned about 0.14% of Fabrinet as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of FN. Ashton Thomas Private Wealth LLC purchased a new stake in Fabrinet during the first quarter valued at approximately $203,000. Empowered Funds LLC purchased a new stake in Fabrinet during the first quarter valued at approximately $2,331,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Fabrinet by 4.9% during 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 acquiring an additional 3,717 shares during the last quarter. M&T Bank Corp purchased a new stake in Fabrinet during the second quarter valued at approximately $214,000. Finally, EverSource Wealth Advisors LLC lifted its position in Fabrinet by 574.7% during the second quarter. EverSource Wealth Advisors LLC now owns 533 shares of the technology company’s stock valued at $157,000 after acquiring an additional 454 shares during the last quarter. Hedge funds and other institutional investors own 97.38% of the company’s stock.

Wall Street Analysts Forecast Growth

FN has been the subject of a number of analyst reports. JPMorgan Chase & Co. decreased their target price on shares of Fabrinet from $700.00 to $680.00 and set a “neutral” rating for the company in a research report on Tuesday, May 5th. Rosenblatt Securities raised their price target on shares of Fabrinet from $715.00 to $750.00 and gave the stock a “buy” rating in a report on Tuesday, May 5th. Fox Advisors cut shares of Fabrinet from a “strong-buy” rating to an “equal weight” rating in a report on Tuesday, May 5th. Wolfe Research raised shares of Fabrinet from a “peer perform” rating to an “outperform” rating and set a $540.00 price target for the company in a report on Wednesday, February 4th. Finally, Barclays raised their price target on shares of Fabrinet from $548.00 to $702.00 and gave the stock an “overweight” rating in a report on Tuesday, May 5th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $661.75.

Insider Buying and Selling at Fabrinet

In other news, Director Homa Bahrami sold 2,500 shares of the stock in a transaction 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 $11,556,435.03. This represents a 13.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.24% of the stock is owned by insiders.

Fabrinet Trading Up 3.1%

NYSE FN opened at $723.11 on Thursday. The company has a fifty day simple moving average of $649.44 and a two-hundred day simple moving average of $542.93. The stock has a market cap of $25.91 billion, a P/E ratio of 62.12 and a beta of 1.17. Fabrinet has a 12-month low of $231.51 and a 12-month high of $748.89.

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

About Fabrinet

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.