Fabrinet (NYSE:FN) Issues 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 Trading Up 5.4 %

NYSE FN traded up $9.61 during trading hours on Monday, hitting $188.83. The company’s stock had a trading volume of 894,074 shares, compared to its average volume of 451,574. The company has a market capitalization of $6.86 billion, a PE ratio of 25.90 and a beta of 1.04. Fabrinet has a 52 week low of $90.19 and a 52 week high of $229.02. The company’s 50-day simple moving average is $189.84 and its two-hundred day simple moving average is $185.25.

Fabrinet (NYSE:FN) last posted its earnings results on Monday, February 5th. The technology company reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.84 by $0.05. The company had revenue of $712.69 million for the quarter, compared to analyst estimates of $699.76 million. Fabrinet had a return on equity of 17.27% and a net margin of 9.35%. Research analysts anticipate that Fabrinet will post 7.59 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Northland Securities upgraded shares of Fabrinet from a market perform rating to an outperform rating and upped their target price for the stock from $200.00 to $220.00 in a research note on Thursday, March 21st. Needham & Company LLC decreased their price objective on shares of Fabrinet from $230.00 to $220.00 and set a buy rating for the company in a research note on Friday, March 22nd. JPMorgan Chase & Co. boosted their target price on Fabrinet from $210.00 to $212.00 and gave the stock a neutral rating in a research note on Thursday, April 11th. Finally, Rosenblatt Securities reaffirmed a buy rating and set a $230.00 price target on shares of Fabrinet in a research report on Tuesday, February 6th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus target price of $159.57.

Insider Activity

In other Fabrinet news, Director Rollance E. Olson sold 10,000 shares of the stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $205.52, for a total transaction of $2,055,200.00. Following the completion of the transaction, the director now owns 25,981 shares in the company, valued at $5,339,615.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.51% of the company’s stock.

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.