Fabrinet (NYSE:FN) Releases Q4 Earnings Guidance

Fabrinet (NYSE:FN) updated its fourth quarter earnings guidance on Monday. 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.

Analysts Set New Price Targets

A number of brokerages have recently commented on FN. Rosenblatt Securities reiterated a buy rating and issued a $230.00 price target on shares of Fabrinet in a research note on Tuesday, February 6th. Needham & Company LLC reiterated a buy rating and issued a $220.00 price objective on shares of Fabrinet in a research note on Tuesday. JPMorgan Chase & Co. upped 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, Northland Securities upgraded shares of Fabrinet from a market perform rating to an outperform rating and lifted their price target for the stock from $200.00 to $220.00 in a research note on Thursday, March 21st. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and an average target price of $159.57.

Fabrinet Trading Up 13.1 %

Shares of FN stock traded up $24.83 during trading hours on Tuesday, hitting $213.66. The company’s stock had a trading volume of 571,157 shares, compared to its average volume of 455,104. The company has a 50 day moving average of $189.62 and a 200 day moving average of $185.43. Fabrinet has a 12-month low of $90.19 and a 12-month high of $229.02. The stock has a market cap of $7.76 billion, a PE ratio of 31.12 and a beta of 1.04.

Fabrinet (NYSE:FN) last posted its earnings results on Monday, February 5th. The technology company reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.84 by $0.05. The firm 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%. As a group, analysts anticipate that Fabrinet will post 7.59 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Rollance E. Olson sold 10,000 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $205.52, for a total transaction of $2,055,200.00. Following the completion of the transaction, the director now owns 25,981 shares in the company, valued at approximately $5,339,615.12. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 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.