Fabrinet (NYSE:FN) Posts Quarterly Earnings Results, Beats Estimates By $0.35 EPS

Fabrinet (NYSE:FN) announced its quarterly earnings data on Monday. The technology company reported $2.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.06 by $0.35, Briefing.com reports. Fabrinet had a net margin of 9.90% and a return on equity of 17.67%. The company had revenue of $753.26 million for the quarter, compared to analysts’ expectations of $732.63 million. The business’s revenue was up 14.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.68 EPS. Fabrinet updated its Q1 guidance to $2.33-2.40 EPS.

Fabrinet Stock Performance

FN opened at $267.44 on Wednesday. Fabrinet has a twelve month low of $143.57 and a twelve month high of $278.38. The firm has a market cap of $9.67 billion, a P/E ratio of 35.55 and a beta of 0.96. The business has a 50 day moving average price of $233.78 and a 200 day moving average price of $214.16.

Insider Buying and Selling

In related news, Director Frank H. Levinson sold 6,000 shares of the business’s stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $241.71, for a total transaction of $1,450,260.00. Following the completion of the transaction, the director now owns 5,709 shares of the company’s stock, valued at approximately $1,379,922.39. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.51% of the company’s stock.

Analyst Ratings Changes

FN has been the subject of several recent analyst reports. JPMorgan Chase & Co. raised their target price on Fabrinet from $240.00 to $285.00 and gave the stock a “neutral” rating in a research report on Tuesday. B. Riley raised their price objective on Fabrinet from $171.00 to $196.00 and gave the stock a “neutral” rating in a research report on Tuesday. Needham & Company LLC upped their target price on Fabrinet from $270.00 to $280.00 and gave the company a “buy” rating in a report on Tuesday. Rosenblatt Securities increased their price target on shares of Fabrinet from $260.00 to $280.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, Jefferies Financial Group assumed coverage on shares of Fabrinet in a research report on Wednesday, June 26th. They set a “hold” rating and a $230.00 price objective on the stock. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $191.78.

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.