Fabrinet (FN) Issues Quarterly Earnings Results

Fabrinet (NYSE:FN) announced its quarterly earnings results on Monday. The technology company reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.02, Briefing.com reports. The business had revenue of $337.10 million for the quarter, compared to analyst estimates of $329.41 million. Fabrinet had a return on equity of 14.35% and a net margin of 6.60%. The company’s quarterly revenue was down 4.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.91 earnings per share. Fabrinet updated its Q3 guidance to $0.70-0.73 EPS.

Shares of Fabrinet (NYSE FN) opened at $24.05 on Tuesday. The company has a market capitalization of $931.07, a P/E ratio of 9.58, a PEG ratio of 0.97 and a beta of 0.75. Fabrinet has a 52 week low of $24.02 and a 52 week high of $49.63. The company has a quick ratio of 1.85, a current ratio of 2.70 and a debt-to-equity ratio of 0.03.

In related news, insider David T. Mitchell sold 50,000 shares of the stock in a transaction that occurred on Thursday, November 9th. The stock was sold at an average price of $30.03, for a total transaction of $1,501,500.00. Following the completion of the sale, the insider now directly owns 111,057 shares of the company’s stock, valued at $3,335,041.71. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider David T. Mitchell sold 8,600 shares of the stock in a transaction that occurred on Monday, January 8th. The shares were sold at an average price of $30.02, for a total value of $258,172.00. Following the sale, the insider now directly owns 111,057 shares of the company’s stock, valued at $3,333,931.14. The disclosure for this sale can be found here. Over the last three months, insiders sold 108,600 shares of company stock valued at $3,306,172. Company insiders own 3.30% of the company’s stock.

Several brokerages have issued reports on FN. JPMorgan Chase & Co. lowered Fabrinet from an “overweight” rating to a “neutral” rating and set a $42.00 price target on the stock. in a report on Tuesday, November 7th. Northland Securities set a $37.00 price target on Fabrinet and gave the stock a “buy” rating in a report on Monday, January 29th. Needham & Company LLC cut their price target on Fabrinet from $60.00 to $45.00 and set a “strong-buy” rating on the stock in a report on Tuesday, November 7th. Piper Jaffray Companies reissued a “buy” rating on shares of Fabrinet in a research note on Friday, November 10th. Finally, B. Riley lowered their price objective on Fabrinet from $46.50 to $42.50 and set a “buy” rating for the company in a research note on Friday, November 3rd. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Hold” and an average price target of $42.08.

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Fabrinet Company Profile

Fabrinet provides optical packaging and precision optical, electro-mechanical and electronic manufacturing services to original equipment manufacturers (OEMs) of products, such as optical communication components, modules and sub-systems, industrial lasers, medical devices and sensors. The Company offers a range of optical and electro-mechanical capabilities across the manufacturing process, including process design and engineering, supply chain management, manufacturing, complex printed circuit board assembly, advanced packaging, integration, final assembly and test.

Earnings History for Fabrinet (NYSE:FN)

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