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 earnings per share guidance of $2.20-2.27 for the period, compared to the consensus earnings per share 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 13.1 %

NYSE:FN traded up $24.83 during mid-day trading on Tuesday, reaching $213.66. 571,157 shares of the company were exchanged, compared to its average volume of 455,104. 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. The company has a fifty day moving average of $189.62 and a 200 day moving average of $185.43.

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

Analyst Upgrades and Downgrades

Several research firms have weighed in on FN. JPMorgan Chase & Co. lifted their target price on Fabrinet from $210.00 to $212.00 and gave the stock 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 lifted their price target for the company from $200.00 to $220.00 in a research note on Thursday, March 21st. Needham & Company LLC reissued a buy rating and set a $220.00 price objective on shares of Fabrinet in a research report on Tuesday. Finally, Rosenblatt Securities reaffirmed a buy rating and issued a $230.00 target price on shares of Fabrinet in a research note on Tuesday, February 6th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus target price of $159.57.

Insider Activity at Fabrinet

In other 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 value of $2,055,200.00. Following the sale, the director now directly owns 25,981 shares of the company’s stock, valued at approximately $5,339,615.12. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.51% of the stock is owned by company 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.