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

Fabrinet (NYSE:FN) posted 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 firm had revenue of $753.26 million for the quarter, compared to analyst estimates of $732.63 million. Fabrinet had a return on equity of 17.67% and a net margin of 9.90%. Fabrinet’s quarterly revenue was up 14.8% on a year-over-year basis. During the same period in the previous year, the firm earned $1.68 earnings per share. Fabrinet updated its Q1 guidance to $2.33-2.40 EPS.

Fabrinet Price Performance

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

Insider Transactions at Fabrinet

In other news, Director Frank H. Levinson sold 6,000 shares of Fabrinet stock in a transaction on Friday, May 24th. The shares were sold at an average price of $241.71, for a total value of $1,450,260.00. Following the completion of the sale, the director now owns 5,709 shares in the company, valued at approximately $1,379,922.39. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.51% of the company’s stock.

Analyst Upgrades and Downgrades

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

About Fabrinet

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.