Fabrinet (NYSE:FN) Updates Q4 2024 Earnings Guidance

Fabrinet (NYSE:FN) issued an update on its fourth quarter 2024 earnings guidance on Monday morning. The company provided EPS guidance of 2.200-2.270 for the period, compared to the consensus EPS 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.

Fabrinet Price Performance

FN opened at $211.44 on Thursday. Fabrinet has a fifty-two week low of $90.19 and a fifty-two week high of $229.02. The company has a market cap of $7.68 billion, a price-to-earnings ratio of 30.55 and a beta of 1.04. The firm has a 50 day simple moving average of $189.91 and a 200 day simple moving average of $185.95.

Fabrinet (NYSE:FN) last issued its earnings results on Monday, February 5th. The technology company reported $1.89 EPS for the quarter, beating the consensus estimate of $1.84 by $0.05. The company had revenue of $712.69 million during 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, analysts expect that Fabrinet will post 7.59 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on FN. Needham & Company LLC reiterated a buy rating and issued a $220.00 price objective on shares of Fabrinet in a report on Tuesday. Northland Securities raised Fabrinet from a market perform rating to an outperform rating and upped their price target for the company from $200.00 to $220.00 in a research note on Thursday, March 21st. JPMorgan Chase & Co. lifted their price objective on shares of Fabrinet from $210.00 to $212.00 and gave the stock a neutral rating in a research note on Thursday, April 11th. B. Riley lowered their target price on shares of Fabrinet from $173.00 to $171.00 and set a neutral rating for the company in a research note on Tuesday. Finally, Rosenblatt Securities reissued a buy rating and set a $230.00 price target on shares of Fabrinet in a research report on Tuesday, February 6th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus target price of $161.00.

Insider Activity

In other Fabrinet 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 sale, the director now directly owns 25,981 shares of the company’s stock, valued at approximately $5,339,615.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.51% of the company’s stock.

About Fabrinet

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.