Equities analysts predict that Fabrinet (NYSE:FN) will report $412.76 million in sales for the current fiscal quarter, Zacks Investment Research reports. Five analysts have made estimates for Fabrinet’s earnings, with the highest sales estimate coming in at $416.00 million and the lowest estimate coming in at $410.89 million. Fabrinet posted sales of $403.08 million during the same quarter last year, which suggests a positive year over year growth rate of 2.4%. The business is expected to report its next quarterly earnings results on Monday, February 3rd.
According to Zacks, analysts expect that Fabrinet will report full-year sales of $1.66 billion for the current fiscal year, with estimates ranging from $1.64 billion to $1.68 billion. For the next year, analysts expect that the firm will post sales of $1.83 billion, with estimates ranging from $1.77 billion to $1.87 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that cover Fabrinet.
Fabrinet (NYSE:FN) last posted its quarterly earnings data on Monday, November 4th. The technology company reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.72 by $0.14. Fabrinet had a net margin of 7.41% and a return on equity of 14.48%. The firm had revenue of $399.00 million for the quarter, compared to analyst estimates of $390.30 million. During the same period last year, the firm posted $0.92 EPS. Fabrinet’s quarterly revenue was up 5.8% on a year-over-year basis.
A number of equities analysts recently weighed in on FN shares. ValuEngine upgraded shares of Fabrinet from a “sell” rating to a “hold” rating in a research report on Friday, November 1st. Stifel Nicolaus lowered their price objective on shares of Fabrinet from $65.00 to $60.00 and set a “buy” rating on the stock in a research report on Tuesday, August 20th. Zacks Investment Research upgraded shares of Fabrinet from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 22nd. Piper Jaffray Companies lifted their price objective on shares of Fabrinet from $64.00 to $68.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Finally, Needham & Company LLC set a $70.00 price objective on shares of Fabrinet and gave the company a “buy” rating in a research report on Monday, August 26th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $65.17.
NYSE:FN traded up $0.81 during midday trading on Friday, reaching $59.50. The stock had a trading volume of 174,438 shares, compared to its average volume of 382,161. The firm has a fifty day simple moving average of $57.58 and a two-hundred day simple moving average of $52.27. Fabrinet has a 12-month low of $42.33 and a 12-month high of $62.31. The company has a quick ratio of 2.26, a current ratio of 3.25 and a debt-to-equity ratio of 0.06. The stock has a market cap of $2.24 billion, a P/E ratio of 17.76 and a beta of 1.07.
In other Fabrinet news, CEO Seamus Grady sold 5,206 shares of the business’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $53.74, for a total transaction of $279,770.44. Following the sale, the chief executive officer now directly owns 117,760 shares in the company, valued at approximately $6,328,422.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Toh-Seng Ng sold 5,000 shares of the business’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $53.70, for a total transaction of $268,500.00. Following the sale, the chief financial officer now owns 64,963 shares in the company, valued at $3,488,513.10. The disclosure for this sale can be found here. Insiders have sold a total of 125,777 shares of company stock worth $7,172,798 over the last 90 days. Insiders own 1.00% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of FN. WINTON GROUP Ltd acquired a new position in shares of Fabrinet during the 2nd quarter worth $384,000. Oregon Public Employees Retirement Fund raised its stake in shares of Fabrinet by 3.5% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 14,766 shares of the technology company’s stock worth $733,000 after buying an additional 500 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its stake in shares of Fabrinet by 11.5% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 190,659 shares of the technology company’s stock worth $9,472,000 after buying an additional 19,631 shares during the last quarter. Campbell Newman Asset Management Inc. raised its stake in shares of Fabrinet by 6.9% during the 2nd quarter. Campbell Newman Asset Management Inc. now owns 14,367 shares of the technology company’s stock worth $714,000 after buying an additional 923 shares during the last quarter. Finally, Arizona State Retirement System raised its stake in shares of Fabrinet by 0.5% during the 2nd quarter. Arizona State Retirement System now owns 57,136 shares of the technology company’s stock worth $2,838,000 after buying an additional 291 shares during the last quarter. Institutional investors own 97.46% of the company’s stock.
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 optical and electro-mechanical capabilities in the manufacturing process, including process design and engineering, supply chain management, manufacturing, printed circuit board assembly, packaging, integration, final assembly, and test.
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