Fabrinet (FN) Issues Earnings Results, Misses Estimates By $0.17 EPS

Fabrinet (NYSE:FN) announced its earnings results on Monday. The technology company reported $0.57 EPS for the quarter, missing the consensus estimate of $0.74 by $0.17. The company had revenue of $366.80 million for the quarter, compared to analyst estimates of $362.07 million. Fabrinet had a return on equity of 15.24% and a net margin of 7.32%. The business’s quarterly revenue was up 46.1% on a year-over-year basis. During the same quarter last year, the business posted $0.56 earnings per share. Fabrinet updated its Q4 guidance to $0.82-0.84 EPS.

Fabrinet (NYSE:FN) traded up 1.40% on Friday, reaching $34.86. The company had a trading volume of 463,580 shares. The stock’s 50-day moving average price is $36.89 and its 200-day moving average price is $40.24. Fabrinet has a 12-month low of $31.97 and a 12-month high of $49.63. The stock has a market capitalization of $1.30 billion, a P/E ratio of 14.65 and a beta of 1.50.

Earnings History for Fabrinet (NYSE:FN)

Several equities analysts recently weighed in on the stock. JPMorgan Chase & Co. set a $50.00 target price on shares of Fabrinet and gave the company a “buy” rating in a research note on Wednesday, January 25th. Zacks Investment Research cut shares of Fabrinet from a “hold” rating to a “sell” rating in a research note on Tuesday, May 2nd. Stifel Nicolaus raised their target price on shares of Fabrinet from $50.00 to $52.00 and gave the company a “buy” rating in a research note on Tuesday, February 7th. Needham & Company LLC reissued a “hold” rating on shares of Fabrinet in a research note on Tuesday, February 7th. Finally, Piper Jaffray Companies lifted their price objective on shares of Fabrinet from $55.00 to $58.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 7th. One investment analyst has rated the stock with a sell rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. Fabrinet has an average rating of “Buy” and an average price target of $51.29.

In related news, CEO David T. Mitchell sold 75,000 shares of the company’s stock in a transaction on Monday, April 3rd. The stock was sold at an average price of $41.33, for a total transaction of $3,099,750.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last quarter, insiders have sold 225,000 shares of company stock valued at $8,815,500. 4.30% of the stock is owned by company insiders.

A number of hedge funds have recently bought and sold shares of the stock. Tower Research Capital LLC TRC boosted its stake in Fabrinet by 1.9% in the first quarter. Tower Research Capital LLC TRC now owns 2,608 shares of the technology company’s stock worth $110,000 after buying an additional 48 shares during the period. Quantbot Technologies LP raised its stake in Fabrinet by 55.0% in the first quarter. Quantbot Technologies LP now owns 2,755 shares of the technology company’s stock valued at $115,000 after buying an additional 978 shares in the last quarter. Ameritas Investment Partners Inc. bought a new stake in Fabrinet during the first quarter valued at about $127,000. Pacad Investment Ltd. raised its stake in Fabrinet by 60.0% in the fourth quarter. Pacad Investment Ltd. now owns 3,200 shares of the technology company’s stock valued at $129,000 after buying an additional 1,200 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its stake in Fabrinet by 63.3% in the first quarter. PNC Financial Services Group Inc. now owns 3,038 shares of the technology company’s stock valued at $129,000 after buying an additional 1,178 shares in the last quarter. Institutional investors own 90.98% of the company’s stock.

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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.

12 Month Chart for NYSE:FN

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