Fabrinet (NYSE:FN) Posts Quarterly Earnings Results

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

Fabrinet Stock Performance

FN stock opened at $267.67 on Wednesday. The company has a market capitalization of $9.67 billion, a PE ratio of 35.55 and a beta of 0.96. Fabrinet has a one year low of $116.63 and a one year high of $278.38. The company’s 50 day moving average price is $233.78 and its two-hundred day moving average price is $214.16.

Insider Activity at Fabrinet

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on FN shares. B. Riley raised their price objective on shares of Fabrinet from $171.00 to $196.00 and gave the company a “neutral” rating in a research report on Tuesday. Jefferies Financial Group assumed coverage on Fabrinet in a research report on Wednesday, June 26th. They set a “hold” rating and a $230.00 target price for the company. JPMorgan Chase & Co. upped their target price on Fabrinet from $240.00 to $285.00 and gave the stock a “neutral” rating in a research note on Tuesday. Needham & Company LLC lifted their price target on Fabrinet from $270.00 to $280.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, Rosenblatt Securities raised their target price on shares of Fabrinet from $260.00 to $280.00 and gave the company a “buy” rating in a research note on Tuesday. Five equities research 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 company currently has an average rating of “Moderate Buy” and a consensus price target 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.