Fabrinet (NYSE:FN) issued its quarterly earnings results on Monday. The technology company reported $0.75 earnings per share for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.05), Briefing.com reports. Fabrinet had a net margin of 6.84% and a return on equity of 15.32%. The business had revenue of $357.31 million for the quarter, compared to analysts’ expectations of $358.61 million. During the same quarter in the prior year, the firm posted $0.80 EPS. The business’s quarterly revenue was up 7.6% compared to the same quarter last year. Fabrinet updated its Q2 guidance to $0.69-0.71 EPS.

Shares of Fabrinet (FN) traded down $0.52 during midday trading on Monday, reaching $31.73. The company’s stock had a trading volume of 1,181,068 shares, compared to its average volume of 412,734. The company has a quick ratio of 1.80, a current ratio of 2.57 and a debt-to-equity ratio of 0.03. Fabrinet has a 1 year low of $31.20 and a 1 year high of $49.63. The stock has a market capitalization of $1,190.00, a P/E ratio of 12.55, a P/E/G ratio of 0.97 and a beta of 1.03.

Fabrinet declared that its Board of Directors has approved a share repurchase plan on Monday, August 21st that permits the company to repurchase $30.00 million in outstanding shares. This repurchase authorization permits the technology company to reacquire up to 21% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

In other Fabrinet news, Director Thomas F. Kelly sold 30,000 shares of the business’s stock in a transaction dated Tuesday, August 29th. The stock was sold at an average price of $38.24, for a total value of $1,147,200.00. Following the transaction, the director now owns 64,635 shares in the company, valued at $2,471,642.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Harpal Gill sold 50,000 shares of the business’s stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $39.07, for a total value of $1,953,500.00. Following the completion of the transaction, the chief operating officer now owns 194,193 shares in the company, valued at approximately $7,587,120.51. The disclosure for this sale can be found here. Insiders sold 207,500 shares of company stock worth $8,034,350 in the last 90 days. Corporate insiders own 3.30% of the company’s stock.

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FN has been the topic of a number of research analyst reports. Zacks Investment Research upgraded Fabrinet from a “sell” rating to a “hold” rating in a report on Wednesday, July 12th. Stifel Nicolaus reiterated a “buy” rating and set a $48.00 price target on shares of Fabrinet in a report on Friday, July 14th. BidaskClub upgraded Fabrinet from a “sell” rating to a “hold” rating in a report on Sunday, July 16th. ValuEngine upgraded Fabrinet from a “hold” rating to a “buy” rating in a report on Wednesday, August 2nd. Finally, B. Riley reiterated a “buy” rating and set a $44.75 price target on shares of Fabrinet in a report on Friday, August 18th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $50.92.

Fabrinet Company Profile

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.

Earnings History for Fabrinet (NYSE:FN)

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