Fabrinet (NYSE:FN – Get Rating) issued an update on its second quarter 2023 earnings guidance on Monday morning. The company provided earnings per share guidance of $1.86-$1.93 for the period, compared to the consensus earnings per share estimate of $1.73. The company issued revenue guidance of $640.00 million-$660.00 million, compared to the consensus revenue estimate of $632.36 million.
Analyst Upgrades and Downgrades
FN has been the topic of a number of research analyst reports. StockNews.com upgraded Fabrinet from a hold rating to a buy rating in a research note on Friday, November 11th. Northland Securities lifted their target price on Fabrinet from $125.00 to $132.50 in a research note on Thursday, October 6th. Needham & Company LLC increased their price target on shares of Fabrinet from $135.00 to $140.00 and gave the company a buy rating in a research report on Tuesday, November 8th. Finally, B. Riley lifted their price objective on shares of Fabrinet from $102.00 to $110.00 in a research report on Tuesday, November 8th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus price target of $119.90.
Fabrinet Trading Down 1.2 %
Shares of FN opened at $128.19 on Tuesday. Fabrinet has a fifty-two week low of $74.57 and a fifty-two week high of $129.94. The business has a 50-day moving average of $107.52 and a 200 day moving average of $96.68. The firm has a market cap of $4.69 billion, a P/E ratio of 21.65 and a beta of 1.00. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.95 and a current ratio of 2.95.
Insider Transactions at Fabrinet
Institutional Investors Weigh In On Fabrinet
Institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. raised its stake in Fabrinet by 0.4% in the first quarter. BlackRock Inc. now owns 5,594,458 shares of the technology company’s stock valued at $588,146,000 after purchasing an additional 24,058 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Fabrinet by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 4,173,594 shares of the technology company’s stock valued at $438,770,000 after buying an additional 30,481 shares in the last quarter. Capital International Investors lifted its holdings in shares of Fabrinet by 108.1% during the 1st quarter. Capital International Investors now owns 1,529,864 shares of the technology company’s stock worth $160,835,000 after acquiring an additional 794,833 shares during the last quarter. State Street Corp grew its position in Fabrinet by 1.2% in the third quarter. State Street Corp now owns 1,212,529 shares of the technology company’s stock worth $115,736,000 after acquiring an additional 14,684 shares in the last quarter. Finally, Capital World Investors increased its stake in Fabrinet by 24.7% in the first quarter. Capital World Investors now owns 825,341 shares of the technology company’s stock valued at $86,768,000 after acquiring an additional 163,556 shares during the last quarter. Hedge funds and other institutional investors own 97.21% of the company’s stock.
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.
- Get a free copy of the StockNews.com research report on Fabrinet (FN)
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