Fabrinet (FN) Set to Announce Quarterly Earnings on Monday
Fabrinet (NYSE:FN) will be issuing its quarterly earnings data after the market closes on Monday, November 6th. Analysts expect the company to announce earnings of $0.80 per share for the quarter. Fabrinet has set its Q1 guidance at $0.78-0.80 EPS.
Fabrinet (NYSE:FN) last announced its quarterly earnings results on Monday, August 21st. The technology company reported $0.72 earnings per share for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.11). Fabrinet had a return on equity of 15.32% and a net margin of 6.84%. The company had revenue of $370.50 million during the quarter, compared to analyst estimates of $363.41 million. During the same period in the prior year, the firm earned $0.60 EPS. Fabrinet’s quarterly revenue was up 34.0% on a year-over-year basis. On average, analysts expect Fabrinet to post $2.78 EPS for the current fiscal year and $3.25 EPS for the next fiscal year.
Shares of Fabrinet (NYSE:FN) remained flat at $37.38 during mid-day trading on Monday. The stock had a trading volume of 34,442 shares. Fabrinet has a 1-year low of $31.97 and a 1-year high of $49.63. The stock has a market capitalization of $1.40 billion, a PE ratio of 14.54 and a beta of 1.15. The stock has a 50-day moving average of $37.09 and a 200-day moving average of $38.96.
Fabrinet announced that its Board of Directors has initiated a stock buyback plan on Monday, August 21st that permits the company to repurchase $30.00 million in shares. This repurchase authorization permits the technology company to purchase up to 21% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.
Several equities research analysts recently issued reports on FN shares. ValuEngine upgraded shares of Fabrinet from a “hold” rating to a “buy” rating in a research note on Wednesday, August 2nd. Stifel Nicolaus reiterated a “buy” rating and issued a $48.00 target price on shares of Fabrinet in a research note on Friday, July 14th. Northland Securities set a $50.00 target price on shares of Fabrinet and gave the company a “buy” rating in a research note on Tuesday, August 22nd. B. Riley reiterated a “buy” rating and issued a $44.75 target price on shares of Fabrinet in a research note on Friday, August 18th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $60.00 target price on shares of Fabrinet in a research note on Tuesday, September 5th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the stock. Fabrinet has an average rating of “Buy” and a consensus price target of $51.58.
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In other Fabrinet news, CFO Toh-Seng Ng sold 22,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $39.00, for a total transaction of $877,500.00. Following the completion of the sale, the chief financial officer now directly owns 201,749 shares in the company, valued at $7,868,211. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO David T. Mitchell sold 105,000 shares of the firm’s stock in a transaction that occurred on Friday, August 25th. The stock was sold at an average price of $38.63, for a total transaction of $4,056,150.00. Following the sale, the chief executive officer now owns 111,057 shares of the company’s stock, valued at $4,290,131.91. The disclosure for this sale can be found here. Insiders have sold 207,500 shares of company stock valued at $8,034,350 over the last 90 days. Company insiders own 3.30% of the company’s stock.
Fabrinet provides optical packaging and precision optical, electro-mechanical and electronic manufacturing services to original equipment manufacturers (OEMs) of products, such as optical communication components, modules and sub-systems, industrial lasers, medical devices and sensors. The Company offers a range of optical and electro-mechanical capabilities across the manufacturing process, including process design and engineering, supply chain management, manufacturing, complex printed circuit board assembly, advanced packaging, integration, final assembly and test.
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