Fabrinet (NYSE:FN) Updates 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.

Analyst Ratings Changes

Several brokerages recently issued reports on FN. Northland Securities upgraded Fabrinet from a market perform rating to an outperform rating and increased their price objective for the stock from $200.00 to $220.00 in a report on Thursday, March 21st. Needham & Company LLC reissued a buy rating and issued a $220.00 price target on shares of Fabrinet in a research note on Tuesday. Rosenblatt Securities reaffirmed a buy rating and set a $230.00 price objective on shares of Fabrinet in a research report on Tuesday, February 6th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Fabrinet from $210.00 to $212.00 and gave the stock a neutral rating in a research report on Thursday, April 11th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus price target of $159.57.

Fabrinet Trading Up 12.7 %

Fabrinet stock traded up $24.04 on Tuesday, reaching $212.87. 518,952 shares of the stock were exchanged, compared to its average volume of 454,631. Fabrinet has a twelve month low of $90.19 and a twelve month high of $229.02. The firm has a fifty day moving average price of $189.62 and a two-hundred day moving average price of $185.43. The stock has a market cap of $7.73 billion, a PE ratio of 31.12 and a beta of 1.04.

Fabrinet (NYSE:FN) last announced 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. The business had revenue of $712.69 million for the quarter, compared to analyst estimates of $699.76 million. Fabrinet had a net margin of 9.35% and a return on equity of 17.27%. Equities analysts anticipate that Fabrinet will post 7.59 EPS for the current fiscal year.

Insiders Place Their Bets

In other Fabrinet news, Director Rollance E. Olson sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The stock was 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 in the company, valued at approximately $5,339,615.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.51% of the company’s stock.

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.