Fabrinet (NYSE:FN) Updates Q4 2024 Earnings Guidance

Fabrinet (NYSE:FN) updated its fourth quarter 2024 earnings guidance on Monday. The company provided EPS guidance of 2.200-2.270 for the period, compared to the consensus EPS estimate of 2.170. The company issued revenue guidance of $720.0 million-$740.0 million, compared to the consensus revenue estimate of $736.5 million. Fabrinet also updated its Q4 guidance to $2.20-2.27 EPS.

Wall Street Analyst Weigh In

FN has been the subject of several recent research reports. Rosenblatt Securities reissued a buy rating and issued a $230.00 price objective on shares of Fabrinet in a research note on Tuesday, February 6th. JPMorgan Chase & Co. increased their price target on shares of Fabrinet from $210.00 to $212.00 and gave the company a neutral rating in a research note on Thursday, April 11th. Needham & Company LLC restated a buy rating and issued a $220.00 price objective on shares of Fabrinet in a research note on Tuesday. B. Riley decreased their price target on shares of Fabrinet from $173.00 to $171.00 and set a neutral rating for the company in a research note on Tuesday. Finally, Northland Securities raised Fabrinet from a market perform rating to an outperform rating and boosted their target price for the company from $200.00 to $220.00 in a report on Thursday, March 21st. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Fabrinet currently has an average rating of Moderate Buy and an average price target of $161.00.

Fabrinet Stock Performance

Shares of NYSE:FN traded down $0.40 on Wednesday, hitting $208.91. The company’s stock had a trading volume of 367,120 shares, compared to its average volume of 460,775. Fabrinet has a 12 month low of $90.19 and a 12 month high of $229.02. The company has a market capitalization of $7.59 billion, a price-to-earnings ratio of 29.54 and a beta of 1.04. The stock’s 50-day moving average is $189.76 and its two-hundred day moving average is $185.77.

Fabrinet (NYSE:FN) last posted its quarterly 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. Fabrinet had a return on equity of 17.27% and a net margin of 9.35%. The company had revenue of $712.69 million for the quarter, compared to analysts’ expectations of $699.76 million. Equities analysts expect 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 Fabrinet stock in a transaction 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 completion of the sale, the director now owns 25,981 shares of the company’s stock, valued at approximately $5,339,615.12. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.51% of the stock is 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.