Fabrinet (NYSE:FN) Posts Earnings Results, Misses Estimates By $0.02 EPS

Fabrinet (NYSE:FNGet Rating) announced its quarterly earnings data on Monday. The technology company reported $1.50 EPS for the quarter, missing the Zacks’ consensus estimate of $1.52 by ($0.02), MarketWatch Earnings reports. Fabrinet had a return on equity of 15.49% and a net margin of 8.26%. During the same period last year, the company earned $1.03 EPS. Fabrinet updated its Q4 guidance to $1.52-1.59 EPS.

Shares of Fabrinet stock traded up $0.42 during trading hours on Wednesday, hitting $94.05. 481,256 shares of the company were exchanged, compared to its average volume of 200,870. Fabrinet has a 1 year low of $77.30 and a 1 year high of $126.28. The company has a current ratio of 2.88, a quick ratio of 1.91 and a debt-to-equity ratio of 0.02. The business has a 50-day moving average of $100.21 and a 200-day moving average of $107.40. The stock has a market capitalization of $3.48 billion, a price-to-earnings ratio of 18.89 and a beta of 0.92.

In related news, EVP Edward T. Archer sold 2,146 shares of the company’s stock in a transaction on Tuesday, March 1st. The stock was sold at an average price of $98.73, for a total transaction of $211,874.58. The sale was disclosed in a document filed with the SEC, which is available at this link. 0.42% of the stock is owned by corporate insiders.

Hedge funds have recently made changes to their positions in the stock. Thrivent Financial for Lutherans grew its holdings in Fabrinet by 1.0% in the fourth quarter. Thrivent Financial for Lutherans now owns 30,126 shares of the technology company’s stock valued at $3,569,000 after purchasing an additional 312 shares during the last quarter. Zacks Investment Management grew its holdings in Fabrinet by 8.5% in the fourth quarter. Zacks Investment Management now owns 6,602 shares of the technology company’s stock valued at $782,000 after purchasing an additional 515 shares during the last quarter. Penserra Capital Management LLC acquired a new stake in Fabrinet in the fourth quarter valued at $67,000. Schonfeld Strategic Advisors LLC grew its holdings in Fabrinet by 40.0% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 2,800 shares of the technology company’s stock valued at $332,000 after purchasing an additional 800 shares during the last quarter. Finally, JustInvest LLC grew its holdings in Fabrinet by 19.2% in the fourth quarter. JustInvest LLC now owns 5,090 shares of the technology company’s stock valued at $603,000 after purchasing an additional 820 shares during the last quarter. 95.89% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities analysts have recently commented on FN shares. JPMorgan Chase & Co. boosted their price objective on Fabrinet from $115.00 to $125.00 and gave the stock a “neutral” rating in a research report on Thursday, January 20th. StockNews.com raised Fabrinet from a “hold” rating to a “buy” rating in a report on Friday, April 29th. B. Riley lowered their price target on Fabrinet from $100.00 to $96.00 in a report on Tuesday. Loop Capital began coverage on Fabrinet in a report on Monday, April 25th. They issued a “buy” rating and a $129.00 price target for the company. Finally, Zacks Investment Research raised Fabrinet from a “hold” rating to a “buy” rating and set a $108.00 price target for the company in a report on Tuesday, April 19th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $109.25.

About Fabrinet (Get Rating)

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 for Fabrinet (NYSE:FN)

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