Fabrinet (NYSE:FN) Releases Earnings Results


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Fabrinet (NYSE:FN) posted its quarterly earnings data on Sunday. The technology company reported $1.21 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.14 by $0.07, MarketWatch Earnings reports. Fabrinet had a net margin of 7.18% and a return on equity of 13.37%. The company had revenue of $479.32 million during the quarter, compared to analyst estimates of $467.24 million. During the same quarter last year, the firm posted $0.92 EPS. The business’s revenue for the quarter was up 16.6% on a year-over-year basis.

Shares of Fabrinet stock traded down $1.17 during midday trading on Tuesday, hitting $84.94. The company had a trading volume of 343,654 shares, compared to its average volume of 161,971. The business’s 50 day simple moving average is $89.77 and its two-hundred day simple moving average is $80.17. The stock has a market cap of $3.13 billion, a PE ratio of 26.44 and a beta of 1.01. The company has a debt-to-equity ratio of 0.04, a current ratio of 3.32 and a quick ratio of 2.37. Fabrinet has a 1-year low of $54.38 and a 1-year high of $94.25.

Several brokerages have commented on FN. Zacks Investment Research cut shares of Fabrinet from a “buy” rating to a “hold” rating in a report on Tuesday, April 6th. Royal Bank of Canada raised their price objective on shares of Fabrinet from $50.00 to $53.00 and gave the company a “sector perform” rating in a research report on Tuesday. B. Riley raised their price objective on shares of Fabrinet from $75.00 to $79.00 and gave the company a “neutral” rating in a research report on Tuesday. They noted that the move was a valuation call. Stifel Nicolaus raised their price objective on shares of Fabrinet from $82.00 to $94.00 and gave the company a “buy” rating in a research report on Tuesday, February 2nd. Finally, Northland Securities raised their price objective on shares of Fabrinet from $80.00 to $90.00 and gave the company an “outperform” rating in a research report on Tuesday, January 12th. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Fabrinet presently has an average rating of “Buy” and an average target price of $72.10.

In other Fabrinet news, CFO Csaba Sverha sold 3,341 shares of Fabrinet stock in a transaction on Friday, February 5th. The shares were sold at an average price of $87.10, for a total transaction of $291,001.10. Following the sale, the chief financial officer now owns 19,110 shares in the company, valued at $1,664,481. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Edward T. Archer sold 2,260 shares of Fabrinet stock in a transaction on Thursday, February 4th. The stock was sold at an average price of $86.85, for a total transaction of $196,281.00. Following the sale, the executive vice president now owns 26,211 shares in the company, valued at approximately $2,276,425.35. The disclosure for this sale can be found here. In the last 90 days, insiders sold 28,836 shares of company stock worth $2,524,905. 0.67% of the stock is currently owned by corporate 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.

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Earnings History for Fabrinet (NYSE:FN)

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