Fabrinet (NYSE:FN) Expected to Post Quarterly Sales of $412.76 Million

Brokerages expect Fabrinet (NYSE:FN) to report $412.76 million in sales for the current quarter, according to Zacks Investment Research. Five analysts have made estimates for Fabrinet’s earnings. The highest sales estimate is $416.00 million and the lowest is $410.89 million. Fabrinet reported sales of $403.08 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 2.4%. The company is expected to issue its next earnings results on Monday, February 3rd.

On average, analysts expect that Fabrinet will report full year sales of $1.66 billion for the current year, with estimates ranging from $1.64 billion to $1.68 billion. For the next fiscal year, analysts expect that the firm will post sales of $1.83 billion, with estimates ranging from $1.77 billion to $1.87 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that cover Fabrinet.

Fabrinet (NYSE:FN) last announced its quarterly earnings data on Monday, November 4th. The technology company reported $0.86 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.72 by $0.14. The business had revenue of $399.00 million for the quarter, compared to analysts’ expectations of $390.30 million. Fabrinet had a net margin of 7.41% and a return on equity of 14.48%. The business’s revenue was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.92 earnings per share.

A number of equities research analysts have weighed in on the stock. Needham & Company LLC set a $70.00 price objective on shares of Fabrinet and gave the stock a “buy” rating in a report on Monday, August 26th. Zacks Investment Research upgraded shares of Fabrinet from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 22nd. Stifel Nicolaus cut their price target on shares of Fabrinet from $65.00 to $60.00 and set a “buy” rating on the stock in a report on Tuesday, August 20th. Northland Securities reiterated a “buy” rating and set a $70.00 price target on shares of Fabrinet in a report on Thursday, November 14th. Finally, ValuEngine upgraded shares of Fabrinet from a “sell” rating to a “hold” rating in a report on Friday, November 1st. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Fabrinet has a consensus rating of “Buy” and an average target price of $65.17.

In other news, Director David T. Mitchell sold 30,000 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $60.36, for a total transaction of $1,810,800.00. Following the sale, the director now owns 27,402 shares in the company, valued at $1,653,984.72. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Toh-Seng Ng sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $53.70, for a total transaction of $268,500.00. Following the completion of the sale, the chief financial officer now owns 64,963 shares in the company, valued at approximately $3,488,513.10. The disclosure for this sale can be found here. In the last quarter, insiders have sold 125,777 shares of company stock worth $7,172,798. Corporate insiders own 1.00% of the company’s stock.

A number of hedge funds have recently modified their holdings of FN. FinTrust Capital Advisors LLC purchased a new stake in Fabrinet in the third quarter worth approximately $32,000. Migdal Insurance & Financial Holdings Ltd. boosted its holdings in Fabrinet by 87.3% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,268 shares of the technology company’s stock worth $63,000 after purchasing an additional 591 shares during the last quarter. First Interstate Bank purchased a new stake in Fabrinet in the third quarter worth approximately $76,000. USA Financial Portformulas Corp boosted its holdings in Fabrinet by 8.2% in the second quarter. USA Financial Portformulas Corp now owns 3,308 shares of the technology company’s stock worth $173,000 after purchasing an additional 251 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale purchased a new stake in Fabrinet in the second quarter worth approximately $181,000. Institutional investors own 97.46% of the company’s stock.

FN traded up $0.81 during midday trading on Friday, reaching $59.50. The company’s stock had a trading volume of 174,438 shares, compared to its average volume of 382,161. The firm has a market capitalization of $2.24 billion, a price-to-earnings ratio of 17.76 and a beta of 1.07. The company has a current ratio of 3.25, a quick ratio of 2.26 and a debt-to-equity ratio of 0.06. Fabrinet has a 1 year low of $42.33 and a 1 year high of $62.31. The stock’s 50-day moving average is $57.58 and its 200-day moving average is $52.27.

Fabrinet Company Profile

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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Earnings History and Estimates for Fabrinet (NYSE:FN)

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