Fabrinet (NYSE:FN) updated its first quarter 2020 earnings guidance on Monday. The company provided earnings per share guidance of $0.80-0.84 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.94. The company issued revenue guidance of $386-394 million, compared to the consensus revenue estimate of $399.68 million.
A number of research firms have recently commented on FN. Northland Securities restated a hold rating and issued a $47.50 price objective on shares of Fabrinet in a research report on Monday, July 1st. Zacks Investment Research cut Fabrinet from a buy rating to a hold rating in a research report on Tuesday, May 28th. ValuEngine cut Fabrinet from a buy rating to a hold rating in a research report on Saturday, May 18th. JPMorgan Chase & Co. started coverage on Fabrinet in a research note on Monday, July 29th. They issued a neutral rating and a $57.00 price target on the stock. Finally, Needham & Company LLC lifted their price target on Fabrinet from $62.00 to $70.00 and gave the stock a buy rating in a research note on Friday, August 9th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus price target of $58.93.
Shares of NYSE:FN traded up $0.89 during trading on Monday, reaching $56.46. The stock had a trading volume of 541,933 shares, compared to its average volume of 395,962. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.30 and a current ratio of 3.23. The business has a fifty day moving average price of $52.38 and a 200-day moving average price of $53.27. The stock has a market cap of $1.95 billion, a PE ratio of 18.95, a PEG ratio of 1.13 and a beta of 1.00. Fabrinet has a 1-year low of $40.94 and a 1-year high of $62.31.
In other Fabrinet news, Director David T. Mitchell sold 30,000 shares of the business’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $52.14, for a total transaction of $1,564,200.00. Following the transaction, the director now owns 73,748 shares of the company’s stock, valued at $3,845,220.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold 90,000 shares of company stock worth $4,466,100 in the last three months. 1.90% of the stock is currently 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 optical and electro-mechanical capabilities in the manufacturing process, including process design and engineering, supply chain management, manufacturing, printed circuit board assembly, packaging, integration, final assembly, and test.
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