SCHEDULE: FMR LLC and Abigail P. Johnson Disclose 6.5% Fabrinet Stake

FMR LLC and Abigail P. Johnson have filed an amended Schedule 13G, reporting a 6.5% beneficial ownership stake in Fabrinet's common stock.

Summary

• FMR LLC and Abigail P. Johnson collectively beneficially own 2,327,329.49 shares of Fabrinet's common stock.
• This ownership represents 6.5% of Fabrinet's outstanding common stock.
• FMR LLC holds sole voting power over 2,320,712.00 shares and sole dispositive power over 2,327,329.49 shares.
• Abigail P. Johnson, as an individual, holds sole dispositive power over 2,327,329.49 shares, with no sole or shared voting power directly attributed.
• The securities were acquired and are held in the ordinary course of business, not for the purpose of changing or influencing control of Fabrinet.
• FMR LLC is classified as a parent holding company, and Abigail P. Johnson is classified as an individual.
• Several FMR LLC subsidiaries, including Fidelity Management & Research Company LLC, are identified as entities beneficially owning shares, with Fidelity Management & Research Company LLC owning 5% or greater.
• Abigail P. Johnson, as Director, Chairman, and CEO of FMR LLC, and through her family's predominant ownership of FMR LLC's Series B voting common shares, is deemed part of a controlling group for FMR LLC.

Sentiment

Score: 6

Explanation: The sentiment is moderately positive as it indicates a significant and stable institutional investment by FMR LLC and its affiliates in Fabrinet, suggesting confidence in the company. However, it is a routine disclosure and does not contain performance-related information.

Positives

• Significant institutional ownership by FMR LLC (6.5%) indicates confidence from a major investment firm in Fabrinet.
• The filing explicitly states that the securities were acquired and are held in the ordinary course of business, not for the purpose of changing or influencing control, suggesting a passive investment stance.

Negatives

• This filing is a routine disclosure of beneficial ownership and does not contain information typically associated with negative financial or operational developments for Fabrinet.

Risks

• This Schedule 13G filing does not detail specific risks related to Fabrinet's operations or financial performance.

Future Outlook

This filing is a disclosure of beneficial ownership and does not contain any forward-looking statements or guidance regarding Fabrinet's future outlook.

Management Comments

• "By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under §§ 240.14a-11."

Industry Context

This filing reports a significant institutional stake in Fabrinet, a company operating in the optical communications and precision optical components industry. While the filing itself does not provide industry analysis, the continued holding by a major asset manager like FMR LLC suggests ongoing institutional interest in companies within this sector.

Related Party Transactions

• Abigail P. Johnson's beneficial ownership is derived from her role as Director, Chairman, and Chief Executive Officer of FMR LLC, and her family's predominant ownership of Series B voting common shares of FMR LLC, which represents 49% of the voting power. The Johnson family group, through a shareholders' voting agreement, forms a controlling group with respect to FMR LLC.

Stakeholder Impact

• Shareholders: The continued significant ownership by a major institutional investor like FMR LLC may be viewed positively, potentially signaling stability and long-term interest in Fabrinet's stock.

Key Dates

Keywords

Fabrinet, FMR LLC, Abigail P. Johnson, Beneficial Ownership, Schedule 13G, Common Stock, Institutional Investor, SEC Filing, Investment Management