Bank of New York Mellon Corp Decreases Position in Fabrinet $FN

Bank of New York Mellon Corp decreased its holdings in Fabrinet (NYSE:FN) by 1.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 254,587 shares of the technology company’s stock after selling 3,526 shares during the quarter. Bank of New York Mellon Corp’s holdings in Fabrinet were worth $132,772,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in FN. Swedbank AB purchased a new stake in shares of Fabrinet during the fourth quarter worth about $5,372,000. M&T Bank Corp increased its holdings in shares of Fabrinet by 196.5% during the fourth quarter. M&T Bank Corp now owns 2,345 shares of the technology company’s stock valued at $1,068,000 after acquiring an additional 1,554 shares in the last quarter. JSF Financial LLC purchased a new position in shares of Fabrinet in the 4th quarter valued at approximately $957,000. Principal Financial Group Inc. raised its position in shares of Fabrinet by 4.0% in the 4th quarter. Principal Financial Group Inc. now owns 187,883 shares of the technology company’s stock valued at $85,539,000 after purchasing an additional 7,233 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in Fabrinet by 117.7% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,979 shares of the technology company’s stock worth $3,633,000 after purchasing an additional 4,314 shares in the last quarter. 97.38% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Fabrinet

In other news, Director Homa Bahrami sold 2,500 shares of Fabrinet stock in a transaction that occurred 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 completion of the transaction, the director directly owned 16,233 shares of the company’s stock, valued at $11,556,435.03. The trade was a 13.35% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.24% of the stock is currently owned by company insiders.

Fabrinet Stock Performance

NYSE FN opened at $476.68 on Monday. The firm has a market capitalization of $17.08 billion, a P/E ratio of 40.95 and a beta of 1.20. The stock has a 50-day simple moving average of $598.02 and a two-hundred day simple moving average of $563.85. Fabrinet has a fifty-two week low of $272.49 and a fifty-two week high of $748.89.

Fabrinet (NYSE:FN) last issued its earnings results on Monday, May 4th. The technology company reported $3.72 EPS for the quarter, topping 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 firm had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter in the prior year, the business earned $2.52 earnings per share. The company’s revenue was up 39.3% compared to the same quarter last year. Fabrinet has set its Q4 2026 guidance at 3.720-3.870 EPS. As a group, analysts forecast that Fabrinet will post 12.97 earnings per share for the current year.

Wall Street Analyst Weigh In

FN has been the topic of several research analyst reports. Weiss Ratings downgraded shares of Fabrinet from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, June 30th. JPMorgan Chase & Co. decreased their price target on shares of Fabrinet from $700.00 to $680.00 and set a “neutral” rating for the company in a report on Tuesday, May 5th. Needham & Company LLC reissued a “buy” rating and set a $800.00 price objective on shares of Fabrinet in a report on Tuesday, May 5th. Fox Advisors downgraded Fabrinet from a “strong-buy” rating to an “equal weight” rating in a research report on Tuesday, May 5th. Finally, Zacks Research lowered Fabrinet from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 15th. Six equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $661.75.

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.