Q3 2024 EPS Estimates for Fabrinet Lifted by Analyst (NYSE:FN)

Fabrinet (NYSE:FNFree Report) – Stock analysts at B. Riley increased their Q3 2024 earnings per share estimates for shares of Fabrinet in a report released on Tuesday, February 6th. B. Riley analyst D. Kang now anticipates that the technology company will earn $1.92 per share for the quarter, up from their previous forecast of $1.76. The consensus estimate for Fabrinet’s current full-year earnings is $7.52 per share. B. Riley also issued estimates for Fabrinet’s Q4 2024 earnings at $1.97 EPS, FY2024 earnings at $7.56 EPS, Q1 2025 earnings at $2.04 EPS, Q2 2025 earnings at $2.12 EPS, Q3 2025 earnings at $2.04 EPS, Q4 2025 earnings at $2.15 EPS and FY2025 earnings at $8.35 EPS.

Fabrinet (NYSE:FNGet Free Report) last announced its earnings results on Monday, November 6th. The technology company reported $1.78 EPS for the quarter, topping the consensus estimate of $1.64 by $0.14. Fabrinet had a net margin of 9.35% and a return on equity of 17.27%. The firm had revenue of $685.48 million for the quarter, compared to the consensus estimate of $659.33 million.

FN has been the topic of several other reports. JPMorgan Chase & Co. lowered shares of Fabrinet from an “overweight” rating to a “neutral” rating and raised their price target for the stock from $185.00 to $210.00 in a research report on Monday, January 8th. Royal Bank of Canada lifted their target price on Fabrinet from $40.00 to $42.00 and gave the stock a “sector perform” rating in a research report on Wednesday, November 1st. Rosenblatt Securities reiterated a “buy” rating and issued a $230.00 price objective on shares of Fabrinet in a research report on Tuesday. Finally, Northland Securities lowered Fabrinet from an “outperform” rating to a “market perform” rating and set a $200.00 target price for the company. in a research note on Tuesday. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $148.57.

View Our Latest Report on FN

Fabrinet Stock Performance

Shares of NYSE:FN opened at $196.07 on Friday. The stock’s 50-day moving average is $191.21 and its 200-day moving average is $166.60. Fabrinet has a 52-week low of $90.19 and a 52-week high of $229.02. The company has a market cap of $7.12 billion, a P/E ratio of 28.33 and a beta of 1.06.

Institutional Investors Weigh In On Fabrinet

Hedge funds and other institutional investors have recently made changes to their positions in the company. Capital International Investors boosted its stake in Fabrinet by 108.1% in the first quarter. Capital International Investors now owns 1,529,864 shares of the technology company’s stock valued at $160,835,000 after acquiring an additional 794,833 shares during the last quarter. Envestnet Asset Management Inc. boosted its position in shares of Fabrinet by 1,165.6% in the 1st quarter. Envestnet Asset Management Inc. now owns 625,576 shares of the technology company’s stock worth $6,388,000 after purchasing an additional 576,147 shares during the last quarter. Polar Capital Holdings Plc acquired a new stake in shares of Fabrinet during the second quarter worth $73,479,000. Baillie Gifford & Co. increased its holdings in Fabrinet by 190.0% in the fourth quarter. Baillie Gifford & Co. now owns 563,805 shares of the technology company’s stock valued at $107,309,000 after purchasing an additional 369,389 shares during the last quarter. Finally, Alyeska Investment Group L.P. acquired a new position in Fabrinet in the first quarter valued at about $33,032,000. 97.38% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Thomas F. Kelly sold 3,000 shares of the stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $171.31, for a total transaction of $513,930.00. Following the sale, the director now directly owns 36,532 shares in the company, valued at approximately $6,258,296.92. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Fabrinet news, Director Thomas F. Kelly sold 3,000 shares of the firm’s stock in a transaction dated Monday, November 20th. The shares were sold at an average price of $171.31, for a total value of $513,930.00. Following the completion of the sale, the director now owns 36,532 shares in the company, valued at approximately $6,258,296.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Thomas F. Kelly sold 3,235 shares of the company’s stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $166.75, for a total transaction of $539,436.25. Following the transaction, the director now owns 29,797 shares in the company, valued at $4,968,649.75. The disclosure for this sale can be found here. 0.51% of the stock is currently owned by corporate insiders.

About Fabrinet

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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 advanced optical and electro-mechanical capabilities in the manufacturing process, including process design and engineering, supply chain management, manufacturing, printed circuit board assembly, advanced packaging, integration, final assembly, and testing.

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Earnings History and Estimates for Fabrinet (NYSE:FN)

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