Research Analysts Set Expectations for Fabrinet’s Q3 2024 Earnings (NYSE:FN)

Fabrinet (NYSE:FNFree Report) – Equities researchers at Northland Capmk reduced their Q3 2024 earnings per share estimates for Fabrinet in a note issued to investors on Tuesday, February 6th. Northland Capmk analyst T. Savageaux now anticipates that the technology company will earn $1.93 per share for the quarter, down from their previous forecast of $1.94. The consensus estimate for Fabrinet’s current full-year earnings is $7.52 per share. Northland Capmk also issued estimates for Fabrinet’s Q4 2024 earnings at $2.00 EPS and FY2024 earnings at $7.62 EPS.

A number of other research analysts have also weighed in on the company. JPMorgan Chase & Co. lowered Fabrinet from an “overweight” rating to a “neutral” rating and increased their price target for the stock from $185.00 to $210.00 in a research note on Monday, January 8th. Royal Bank of Canada raised their price target on Fabrinet from $40.00 to $42.00 and gave the stock a “sector perform” rating in a research note on Wednesday, November 1st. Rosenblatt Securities reaffirmed a “buy” rating and set a $230.00 price objective on shares of Fabrinet in a research note on Tuesday. Finally, Northland Securities cut shares of Fabrinet from an “outperform” rating to a “market perform” rating and set a $200.00 target price on the stock. in a research report on Tuesday. Four analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $148.57.

View Our Latest Analysis on FN

Fabrinet Price Performance

NYSE:FN opened at $196.07 on Friday. The firm has a market cap of $7.12 billion, a PE ratio of 28.33 and a beta of 1.06. The firm has a 50 day simple moving average of $191.21 and a 200-day simple moving average of $166.60. Fabrinet has a 1-year low of $90.19 and a 1-year high of $229.02.

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

Insider Transactions at Fabrinet

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

Institutional Trading of Fabrinet

Several large investors have recently modified their holdings of FN. First Eagle Investment Management LLC increased its stake in shares of Fabrinet by 0.8% in the fourth quarter. First Eagle Investment Management LLC now owns 7,508 shares of the technology company’s stock worth $1,429,000 after buying an additional 60 shares during the last quarter. Campbell Newman Asset Management Inc. boosted its stake in Fabrinet by 0.4% in the fourth quarter. Campbell Newman Asset Management Inc. now owns 17,895 shares of the technology company’s stock valued at $3,406,000 after acquiring an additional 64 shares during the period. Signaturefd LLC raised its position in shares of Fabrinet by 15.9% during the 3rd quarter. Signaturefd LLC now owns 503 shares of the technology company’s stock worth $84,000 after purchasing an additional 69 shares during the period. Raymond James Financial Services Advisors Inc. lifted its holdings in shares of Fabrinet by 3.5% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 2,208 shares of the technology company’s stock worth $368,000 after purchasing an additional 75 shares during the last quarter. Finally, Sequoia Financial Advisors LLC lifted its stake in Fabrinet by 3.2% in the third quarter. Sequoia Financial Advisors LLC now owns 2,396 shares of the technology company’s stock valued at $399,000 after buying an additional 75 shares during the last quarter. 97.38% of the stock is currently owned by institutional investors and hedge funds.

About Fabrinet

(Get Free Report)

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.

Featured Articles

Earnings History and Estimates for Fabrinet (NYSE:FN)

Receive News & Ratings for Fabrinet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fabrinet and related companies with MarketBeat.com's FREE daily email newsletter.