Fabrinet $FN Holdings Lowered by Legato Capital Management LLC

Legato Capital Management LLC trimmed its stake in shares of Fabrinet (NYSE:FN) by 13.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,230 shares of the technology company’s stock after selling 1,120 shares during the quarter. Legato Capital Management LLC’s holdings in Fabrinet were worth $3,292,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in FN. Ashton Thomas Private Wealth LLC acquired a new position in shares of Fabrinet in the 1st quarter worth approximately $203,000. Empowered Funds LLC acquired a new position in shares of Fabrinet in the 1st quarter worth approximately $2,331,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Fabrinet by 4.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 79,444 shares of the technology company’s stock worth $15,691,000 after purchasing an additional 3,717 shares during the last quarter. M&T Bank Corp acquired a new position in shares of Fabrinet in the 2nd quarter worth approximately $214,000. Finally, EverSource Wealth Advisors LLC grew its stake in shares of Fabrinet by 574.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 533 shares of the technology company’s stock worth $157,000 after purchasing an additional 454 shares during the last quarter. Institutional investors and hedge funds own 97.38% of the company’s stock.

Insider Activity

In other news, Director Homa Bahrami sold 2,500 shares of the business’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 transaction of $1,779,775.00. Following the sale, the director owned 16,233 shares in the company, valued at $11,556,435.03. The trade was a 13.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.24% of the stock is owned by corporate insiders.

Fabrinet Price Performance

FN stock opened at $705.89 on Friday. Fabrinet has a 52-week low of $222.66 and a 52-week high of $748.89. The company’s 50 day simple moving average is $622.90 and its 200-day simple moving average is $529.44. The firm has a market capitalization of $25.29 billion, a P/E ratio of 60.64 and a beta of 1.22.

Fabrinet (NYSE:FN) last released its quarterly earnings results on Monday, May 4th. The technology company reported $3.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.58 by $0.14. Fabrinet had a net margin of 9.94% and a return on equity of 19.83%. The business had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same quarter in the previous year, the business earned $2.52 earnings per share. The firm’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. Sell-side analysts predict that Fabrinet will post 12.96 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

FN has been the topic of several recent research reports. Zacks Research raised shares of Fabrinet from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 5th. Fox Advisors cut shares of Fabrinet from a “strong-buy” rating to an “equal weight” rating in a research note on Tuesday, May 5th. Northland Securities set a $800.00 price objective on shares of Fabrinet in a research note on Monday, April 20th. Needham & Company LLC reaffirmed a “buy” rating and issued a $800.00 price objective on shares of Fabrinet in a research note on Tuesday, May 5th. Finally, Barclays lifted their price objective on shares of Fabrinet from $548.00 to $702.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 5th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Fabrinet presently has a consensus rating of “Moderate Buy” and a consensus 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.