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.
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.
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