Fabrinet (NYSE:FN) – Stock analysts at B. Riley issued their Q2 2019 EPS estimates for shares of Fabrinet in a research report issued on Tuesday, November 6th. B. Riley analyst D. Kang expects that the technology company will post earnings per share of $0.80 for the quarter. B. Riley has a “Neutral” rating and a $52.00 price objective on the stock. B. Riley also issued estimates for Fabrinet’s Q3 2019 earnings at $0.74 EPS, Q4 2019 earnings at $0.80 EPS and FY2019 earnings at $3.12 EPS.
Several other equities research analysts have also recently issued reports on FN. Zacks Investment Research raised shares of Fabrinet from a “sell” rating to a “hold” rating in a research note on Tuesday, July 31st. Piper Jaffray Companies raised shares of Fabrinet to an “overweight” rating and set a $56.00 target price on the stock in a research note on Tuesday, November 6th. ValuEngine raised shares of Fabrinet from a “sell” rating to a “hold” rating in a research note on Wednesday, August 8th. Stifel Nicolaus began coverage on shares of Fabrinet in a research note on Monday, October 22nd. They set a “buy” rating and a $53.00 target price on the stock. Finally, Needham & Company LLC lifted their target price on shares of Fabrinet from $55.00 to $58.00 and gave the stock a “buy” rating in a research note on Wednesday, September 5th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Fabrinet has an average rating of “Buy” and an average target price of $50.17.
Shares of FN opened at $51.16 on Friday. Fabrinet has a 52-week low of $24.02 and a 52-week high of $54.70. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.21 and a current ratio of 3.00. The firm has a market cap of $1.94 billion, a price-to-earnings ratio of 17.17, a price-to-earnings-growth ratio of 1.45 and a beta of 0.68.
Fabrinet (NYSE:FN) last announced its earnings results on Monday, November 5th. The technology company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.24. Fabrinet had a net margin of 6.54% and a return on equity of 13.53%. The company had revenue of $377.00 million for the quarter, compared to analysts’ expectations of $352.28 million. During the same quarter in the previous year, the company posted $0.75 EPS. The firm’s quarterly revenue was up 5.5% on a year-over-year basis.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. lifted its position in Fabrinet by 4.3% in the third quarter. BlackRock Inc. now owns 5,227,542 shares of the technology company’s stock valued at $241,826,000 after buying an additional 215,696 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Fabrinet by 11.7% in the second quarter. Dimensional Fund Advisors LP now owns 2,931,441 shares of the technology company’s stock valued at $108,140,000 after buying an additional 307,771 shares during the last quarter. Frontier Capital Management Co. LLC lifted its position in Fabrinet by 8.1% in the third quarter. Frontier Capital Management Co. LLC now owns 1,597,382 shares of the technology company’s stock valued at $73,895,000 after buying an additional 119,906 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Fabrinet by 7.1% in the third quarter. Bank of New York Mellon Corp now owns 1,169,366 shares of the technology company’s stock valued at $54,095,000 after buying an additional 77,284 shares during the last quarter. Finally, Paradigm Capital Management Inc. NY acquired a new position in Fabrinet in the second quarter valued at about $29,442,000. 99.66% of the stock is currently owned by institutional investors.
In other news, Director Rollance E. Olson sold 5,000 shares of the business’s stock in a transaction dated Thursday, August 23rd. The shares were sold at an average price of $48.03, for a total transaction of $240,150.00. Following the transaction, the director now owns 48,303 shares of the company’s stock, valued at approximately $2,319,993.09. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Toh-Seng Ng sold 20,000 shares of the business’s stock in a transaction dated Monday, August 27th. The shares were sold at an average price of $47.77, for a total transaction of $955,400.00. Following the transaction, the chief financial officer now directly owns 177,340 shares in the company, valued at approximately $8,471,531.80. The disclosure for this sale can be found here. In the last three months, insiders have sold 165,000 shares of company stock worth $7,727,350. Corporate insiders own 1.90% 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 optical and electro-mechanical capabilities in the manufacturing process, including process design and engineering, supply chain management, manufacturing, printed circuit board assembly, packaging, integration, final assembly, and test.
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