Should You Invest in Fabrinet (FN)?

Scout Investments, an affiliate of Carillon Tower Advisers, an investment management company, released its “Carillon Scout Small Cap Fund” third quarter 2022 investor letter. You can download a copy of the same here. The fund underperformed in the quarter relative to its Russell 2000 Growth Index benchmark. Macroeconomic headwinds affected the performance of the fund in the quarter. As per the letter, investors prefer growth stocks to value stocks, as small-cap growth stocks outperformed small-cap value stocks during the quarter. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.

Carillon Tower Advisers highlighted stocks like Fabrinet (NYSE:FN) in its Q3 2022 investor letter. Based in  George Town, the Cayman Islands, Fabrinet (NYSE:FN) is a manufacturing company that provides packaging and precision optical, electro-mechanical, and electronic manufacturing services. On December 30, 2022, Fabrinet (NYSE:FN) stock closed at $128.22 per share. One-month return of Fabrinet (NYSE:FN) was -1.85%, and its shares gained 5.33% of their value over the last 52 weeks. Fabrinet (NYSE:FN) has a market capitalization of $4.691 billion.

Carillon Tower Advisers made the following comment about Fabrinet (NYSE:FN) in its Q3 2022 investor letter:

Fabrinet (NYSE:FN) is a contract manufacturer producing optical communication, automotive, and industrial components and modules. The company reported good results on the back of good demand for advanced optical components and an improving supply environment.”

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Fabrinet (NYSE:FN) is not on our 30 Most Popular Stocks Among Hedge Funds list. As per our database, 20 hedge fund portfolios held Fabrinet (NYSE:FN) at the end of the third quarter, which was 19 in the previous quarter.

We discussed Fabrinet (NYSE:FN) in another article and shared the list of stocks to buy according to Teresa Barger’s Cartica Management. In addition, please check out our hedge fund investor letters Q3 2022 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.