Fabrinet (NYSE:FN) Updates Q4 2024 Earnings Guidance

Fabrinet (NYSE:FN) updated its fourth quarter 2024 earnings guidance on Monday. The company provided earnings per share guidance of 2.200-2.270 for the period, compared to the consensus earnings per share estimate of 2.170. The company issued revenue guidance of $720.0 million-$740.0 million, compared to the consensus revenue estimate of $736.5 million. Fabrinet also updated its Q4 guidance to $2.20-2.27 EPS.

Analyst Ratings Changes

Several equities research analysts recently commented on FN shares. Northland Securities raised Fabrinet from a market perform rating to an outperform rating and increased their price target for the company from $200.00 to $220.00 in a report on Thursday, March 21st. JPMorgan Chase & Co. upped their price objective on shares of Fabrinet from $210.00 to $212.00 and gave the company a neutral rating in a report on Thursday, April 11th. Rosenblatt Securities reissued a buy rating and issued a $230.00 price target on shares of Fabrinet in a research note on Tuesday, February 6th. Finally, Needham & Company LLC decreased their price objective on Fabrinet from $230.00 to $220.00 and set a buy rating on the stock in a report on Friday, March 22nd. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Fabrinet has a consensus rating of Moderate Buy and a consensus price target of $159.57.

Fabrinet Price Performance

Shares of FN opened at $188.83 on Tuesday. The firm has a fifty day moving average price of $189.62 and a 200 day moving average price of $185.43. The stock has a market cap of $6.86 billion, a PE ratio of 27.29 and a beta of 1.04. Fabrinet has a 1-year low of $90.19 and a 1-year high of $229.02.

Fabrinet (NYSE:FN) last announced its earnings results on Monday, February 5th. The technology company reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.84 by $0.05. The business had revenue of $712.69 million for the quarter, compared to analysts’ expectations of $699.76 million. Fabrinet had a net margin of 9.35% and a return on equity of 17.27%. As a group, equities analysts expect that Fabrinet will post 7.59 EPS for the current fiscal year.

Insider Transactions at Fabrinet

In other news, Director Rollance E. Olson sold 10,000 shares of the business’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $205.52, for a total transaction of $2,055,200.00. Following the transaction, the director now directly owns 25,981 shares in the company, valued at $5,339,615.12. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.51% of the company’s stock.

Fabrinet Company Profile

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.