Fabrinet (NYSE:FN) Updates Q4 Earnings Guidance

Fabrinet (NYSE:FN) issued an update on its fourth quarter earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of $2.20-2.27 for the period, compared to the consensus estimate of $2.14. The company issued revenue guidance of $720-740 million, compared to the consensus revenue estimate of $727.89 million. Fabrinet also updated its Q4 2024 guidance to 2.200-2.270 EPS.

Analyst Upgrades and Downgrades

FN has been the subject of several recent research reports. JPMorgan Chase & Co. increased their price target on Fabrinet from $210.00 to $212.00 and gave the company a neutral rating in a report on Thursday, April 11th. Northland Securities raised shares of Fabrinet from a market perform rating to an outperform rating and boosted their price target for the company from $200.00 to $220.00 in a research report on Thursday, March 21st. Rosenblatt Securities reiterated a buy rating and issued a $230.00 target price on shares of Fabrinet in a report on Tuesday, February 6th. B. Riley cut their price target on shares of Fabrinet from $173.00 to $171.00 and set a neutral rating for the company in a report on Tuesday. Finally, Needham & Company LLC reiterated a buy rating and issued a $220.00 price objective on shares of Fabrinet in a report on Tuesday. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average target price of $161.00.

Fabrinet Price Performance

Shares of NYSE:FN traded up $4.56 on Thursday, reaching $216.11. The company’s stock had a trading volume of 99,091 shares, compared to its average volume of 459,387. Fabrinet has a 52-week low of $90.19 and a 52-week high of $229.02. The stock’s 50-day moving average is $189.91 and its two-hundred day moving average is $185.95. The stock has a market capitalization of $7.85 billion, a P/E ratio of 30.55 and a beta of 1.04.

Fabrinet (NYSE:FN) last released 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. The company had revenue of $712.69 million during the quarter, compared to analysts’ expectations of $699.76 million. Fabrinet had a net margin of 9.35% and a return on equity of 17.27%. Equities analysts forecast that Fabrinet will post 7.59 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Rollance E. Olson sold 10,000 shares of the firm’s stock in a transaction 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 completion of the transaction, the director now owns 25,981 shares in the company, valued at $5,339,615.12. The sale was disclosed in a document filed with the SEC, which is available at this link. 0.51% of the stock is owned by insiders.

Fabrinet Company Profile

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.