Magnetar Financial LLC Buys Shares of 4,664 Fabrinet $FN

Magnetar Financial LLC purchased a new stake in Fabrinet (NYSE:FN) in the 3rd quarter, HoldingsChannel.com reports. The institutional investor purchased 4,664 shares of the technology company’s stock, valued at approximately $1,701,000.

Several other institutional investors have also recently made changes to their positions in FN. Cullen Frost Bankers Inc. lifted its holdings in Fabrinet by 20.4% in the third quarter. Cullen Frost Bankers Inc. now owns 171 shares of the technology company’s stock valued at $62,000 after acquiring an additional 29 shares during the last quarter. Coldstream Capital Management Inc. increased its stake in Fabrinet by 3.2% during the second quarter. Coldstream Capital Management Inc. now owns 998 shares of the technology company’s stock worth $294,000 after acquiring an additional 31 shares during the last quarter. Evergreen Capital Management LLC increased its stake in Fabrinet by 1.0% during the second quarter. Evergreen Capital Management LLC now owns 3,032 shares of the technology company’s stock worth $893,000 after acquiring an additional 31 shares during the last quarter. Stephens Inc. AR raised its position in Fabrinet by 4.4% in the third quarter. Stephens Inc. AR now owns 782 shares of the technology company’s stock valued at $285,000 after purchasing an additional 33 shares during the period. Finally, Profund Advisors LLC raised its position in Fabrinet by 2.2% in the third quarter. Profund Advisors LLC now owns 1,505 shares of the technology company’s stock valued at $549,000 after purchasing an additional 33 shares during the period. Hedge funds and other institutional investors own 97.38% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on FN. Rosenblatt Securities reissued a “buy” rating and set a $550.00 price objective on shares of Fabrinet in a research report on Tuesday, February 3rd. B. Riley Financial increased their target price on shares of Fabrinet from $366.00 to $452.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 3rd. Susquehanna lifted their price target on shares of Fabrinet from $550.00 to $570.00 and gave the company a “positive” rating in a research report on Thursday, January 22nd. Northland Securities set a $600.00 price target on shares of Fabrinet in a research note on Monday, December 22nd. Finally, Weiss Ratings lowered shares of Fabrinet from a “buy (b)” rating to a “hold (c+)” rating in a report on Friday, February 13th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $541.25.

Fabrinet Trading Down 2.3%

FN opened at $512.15 on Friday. The stock’s 50-day moving average price is $501.09 and its 200 day moving average price is $443.96. Fabrinet has a 12-month low of $148.55 and a 12-month high of $632.99. The firm has a market cap of $18.35 billion, a price-to-earnings ratio of 49.06 and a beta of 1.01.

Fabrinet (NYSE:FN) last released its earnings results on Monday, February 2nd. The technology company reported $3.36 earnings per share for the quarter, beating the consensus estimate of $3.26 by $0.10. The company had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.08 billion. Fabrinet had a return on equity of 18.69% and a net margin of 9.69%.Fabrinet’s revenue was up 35.9% compared to the same quarter last year. During the same period in the previous year, the company posted $2.61 EPS. Fabrinet has set its Q3 2026 guidance at 3.450-3.600 EPS. On average, research analysts forecast that Fabrinet will post 9.4 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.