Fabrinet (NYSE:FN) Issues Q4 Earnings Guidance

Fabrinet (NYSE:FN) issued an update on its fourth quarter earnings guidance on Monday morning. The company provided EPS guidance of $2.20-2.27 for the period, compared to the consensus EPS 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.

Fabrinet Stock Up 1.0 %

Shares of NYSE FN traded up $2.13 during mid-day trading on Wednesday, reaching $211.44. 602,280 shares of the company were exchanged, compared to its average volume of 463,571. The company’s 50-day simple moving average is $189.91 and its 200-day simple moving average is $185.95. The stock has a market capitalization of $7.68 billion, a P/E ratio of 30.55 and a beta of 1.04. Fabrinet has a twelve month low of $90.19 and a twelve month high of $229.02.

Fabrinet (NYSE:FN) last issued its quarterly earnings data on Monday, February 5th. The technology company reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.84 by $0.05. Fabrinet had a net margin of 9.35% and a return on equity of 17.27%. The business had revenue of $712.69 million during the quarter, compared to analysts’ expectations of $699.76 million. As a group, equities research analysts expect that Fabrinet will post 7.59 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have commented on FN. Northland Securities raised shares of Fabrinet from a market perform rating to an outperform rating and raised their target price for the company from $200.00 to $220.00 in a report on Thursday, March 21st. Rosenblatt Securities reissued a buy rating and issued a $230.00 target price on shares of Fabrinet in a report on Tuesday, February 6th. B. Riley decreased their target price on shares of Fabrinet from $173.00 to $171.00 and set a neutral rating on the stock in a report on Tuesday. JPMorgan Chase & Co. raised their target price on shares of Fabrinet from $210.00 to $212.00 and gave the company a neutral rating in a report on Thursday, April 11th. Finally, Needham & Company LLC reissued a buy rating and issued a $220.00 target price on shares of Fabrinet in a report on Tuesday. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of Moderate Buy and an average target price of $161.00.

Insider Transactions at Fabrinet

In other news, Director Rollance E. Olson sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $205.52, for a total value of $2,055,200.00. Following the transaction, the director now owns 25,981 shares in the company, valued at approximately $5,339,615.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through 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.