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

Fabrinet (NYSE:FN) posted its earnings results on Monday. The technology company reported $2.41 EPS for the quarter, topping analysts’ consensus estimates of $2.06 by $0.35, Briefing.com reports. The company had revenue of $753.26 million for the quarter, compared to the consensus estimate of $732.63 million. Fabrinet had a return on equity of 17.67% and a net margin of 9.90%. The firm’s revenue for the quarter was up 14.8% on a year-over-year basis. 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 Price Performance

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

Insider Activity

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

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Needham & Company LLC upped their price objective on Fabrinet from $270.00 to $280.00 and gave the stock a “buy” rating in a report on Tuesday. JPMorgan Chase & Co. increased their price objective on shares of Fabrinet from $240.00 to $285.00 and gave the company a “neutral” rating in a research report on Tuesday. Rosenblatt Securities boosted 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. B. Riley increased their price target on shares of Fabrinet from $171.00 to $196.00 and gave the company a “neutral” rating in a report on Tuesday. Finally, Jefferies Financial Group assumed coverage on Fabrinet in a research note on Wednesday, June 26th. They issued a “hold” rating and a $230.00 price objective for the company. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Fabrinet 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.