Fabrinet (NYSE:FN) is expected to report quarterly sales of $575.72 million

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Equity analysts expect Fabrinet (NYSE: FNGet a rating) will post $575.72 million in sales for the current quarter, according to Zacks Investment Research. Three analysts have made estimates on Fabrinet’s earnings. The lowest sales estimate is $570.00 million and the highest is $583.97 million. Fabrinet recorded sales of $479.32 million in the same quarter last year, indicating a positive growth rate of 20.1% year-on-year. The company is expected to release its next quarterly earnings report after the market closes on Monday, January 1.

On average, analysts expect Fabrinet to post annual revenue of $2.28 billion for the current year, with estimates ranging from $2.26 billion to $2.29 billion. dollars. For next year, analysts expect the company to post sales of $2.48 billion, with estimates ranging from $2.48 billion to $2.49 billion. Zacks Investment Research sales calculations are an average average based on a survey of research companies that track Fabrinet.

Fabrice (NYSE: FNGet a rating) last reported quarterly earnings data on Monday, Jan. 31. The technology company reported earnings per share of $1.31 for the quarter, beating Thomson Reuters consensus estimate of $1.29 by $0.02. The company posted revenue of $566.63 million in the quarter, compared to analyst estimates of $555.77 million. Fabrinet posted a return on equity of 15.49% and a net margin of 8.26%. During the same period of the previous year, the company made earnings per share of $0.95.

Several research companies have recently commented on FN. Zacks Investment Research upgraded Fabrinet from a “hold” rating to a “buy” rating and set a target price of $108.00 for the company in a Tuesday, April 19 report. Loop Capital began coverage of Fabrinet in a report on Monday. They set a “buy” rating for the company. B. Riley raised his target price on Fabrinet from $96.00 to $100.00 and gave the company a “neutral” rating in a Tuesday, February 1 report. JPMorgan Chase & Co. raised its price target on Fabrinet from $115.00 to $125.00 and gave the stock a “neutral” rating in a Thursday, January 20 research report. To finish, StockNews.com began covering Fabrinet in a research report on Thursday, March 31. They set a “holding” rating for the company. Five research analysts gave the stock a hold rating and five gave the company a buy rating. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $107.00.

In other Fabrinet news, EVP Edward T. Archer sold 2,146 shares of the company in a transaction that took place on Tuesday, March 1. The stock was sold at an average price of $98.73, for a total value of $211,874.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, accessible via the SEC website. Company insiders own 0.42% of the company’s shares.

A number of institutional investors and hedge funds have recently increased or reduced their stakes in the company. Morgan Stanley increased its position in Fabrinet shares by 63.7% during the 2nd quarter. Morgan Stanley now owns 159,568 shares of the technology company valued at $15,298,000 after acquiring an additional 62,074 shares in the last quarter. SG Americas Securities LLC increased its position in Fabrinet shares by 1,271.1% in the third quarter. SG Americas Securities LLC now owns 32,741 shares of the technology company valued at $3,356,000 after acquiring 30,353 additional shares in the last quarter. Raymond James & Associates increased its position in Fabrinet shares by 6.4% during the 3rd quarter. Raymond James & Associates now owns 63,061 shares of the technology company valued at $6,464,000 after acquiring 3,801 additional shares in the last quarter. Advisor Group Holdings Inc. increased its position in Fabrinet shares by 27.5% during the third quarter. Advisor Group Holdings Inc. now owns 7,605 shares of the technology company valued at $779,000 after acquiring 1,640 additional shares in the last quarter. Finally, Truist Financial Corp acquired a new equity stake in Fabrinet during Q3 at a value of $1,010,000. Hedge funds and other institutional investors hold 96.16% of the company’s shares.

NYSE: FN opened at $99.55 on Tuesday. The company has a market capitalization of $3.68 billion, a PE ratio of 21.50 and a beta of 0.93. The stock has a 50-day moving average of $100.76 and a 200-day moving average of $107.62. Fabrinet has a 52-week low of $77.30 and a 52-week high of $126.28. The company has a current ratio of 2.88, a quick ratio of 1.91 and a debt ratio of 0.02.

About Fabrinet (Get a rating)

Fabrinet provides optical packaging and optical, electromechanical and precision electronics manufacturing services in North America, Asia-Pacific and Europe. The company offers a range of advanced optical and electromechanical capabilities in the manufacturing process, including process design and engineering, supply chain management, manufacturing, printed circuit board assembly, l advanced packaging, integration, final assembly and testing.

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