Fabrinet (NYSE:FN) Releases Q4 2024 Earnings Guidance

Fabrinet (NYSE:FN) updated its fourth quarter 2024 earnings guidance on Monday. The company provided earnings per share guidance of 2.200-2.270 for the period, compared to the consensus earnings per share estimate of 2.170. The company issued revenue guidance of $720.0 million-$740.0 million, compared to the consensus revenue estimate of $736.5 million. Fabrinet also updated its Q4 guidance to $2.20-2.27 EPS.

Analysts Set New Price Targets

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

Fabrinet Stock Up 5.4 %

NYSE FN opened at $188.83 on Tuesday. The stock has a market capitalization of $6.86 billion, a P/E ratio of 27.29 and a beta of 1.04. Fabrinet has a 52-week low of $90.19 and a 52-week high of $229.02. The firm has a 50-day moving average price of $189.62 and a 200 day moving average price of $185.43.

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

Insider Activity

In other Fabrinet news, Director Rollance E. Olson sold 10,000 shares of Fabrinet 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 SEC, which is accessible 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.