Fabrinet (NYSE:FN – Get Free Report) updated its fourth quarter 2024 earnings guidance on Monday. The company provided earnings per share (EPS) guidance of 2.200-2.270 for the period, compared to the consensus estimate of 2.170. The company issued revenue guidance of $720.0 million-$740.0 million, compared to the consensus revenue estimate of $736.5 million. Fabrinet also updated its Q4 guidance to $2.20-2.27 EPS.
Analysts Set New Price Targets
A number of equities analysts have recently commented on FN shares. JPMorgan Chase & Co. lifted their price objective on Fabrinet from $210.00 to $212.00 and gave the stock a neutral rating in a research note on Thursday, April 11th. Rosenblatt Securities reaffirmed a buy rating and issued a $230.00 price target on shares of Fabrinet in a research report on Tuesday, February 6th. Northland Securities raised Fabrinet from a market perform rating to an outperform rating and increased their price objective for the company from $200.00 to $220.00 in a research report on Thursday, March 21st. Finally, Needham & Company LLC lowered their price objective on shares of Fabrinet from $230.00 to $220.00 and set a buy rating on the stock in a research note on Friday, March 22nd. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus price target of $159.57.
Read Our Latest Stock Analysis on FN
Fabrinet Trading Up 5.4 %
Fabrinet (NYSE:FN – Get Free Report) last issued its earnings results on Monday, February 5th. The technology company reported $1.89 EPS for the quarter, topping the consensus estimate of $1.84 by $0.05. Fabrinet had a return on equity of 17.27% and a net margin of 9.35%. The firm had revenue of $712.69 million during the quarter, compared to analysts’ expectations of $699.76 million. On average, sell-side analysts predict that Fabrinet will post 7.59 EPS for the current year.
Insider Activity
In other news, Director Rollance E. Olson sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $205.52, for a total value of $2,055,200.00. Following the sale, the director now directly owns 25,981 shares in the company, valued at approximately $5,339,615.12. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.51% of the company’s stock.
About Fabrinet
Fabrinet provides optical packaging and precision optical, electro-mechanical, and electronic manufacturing services in North America, the Asia-Pacific, and Europe. The company offers a range of advanced optical and electro-mechanical capabilities in the manufacturing process, including process design and engineering, supply chain management, manufacturing, printed circuit board assembly, advanced packaging, integration, final assembly, and testing.
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