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.
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.
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