Fabrinet (NYSE:FN) reported better-than-expected fourth-quarter results on Monday.
Fabrinet reported quarterly earnings of $4.10 per share which beat the analyst consensus estimate of $3.82 per share. The company reported quarterly sales of $1.316 billion which beat the analyst consensus estimate of $1.275 billion.
Fabrinet said it sees first-quarter GAAP EPS of $3.39-$3.54, versus market estimates of $3.78.
Seamus Grady, Chief Executive Officer of Fabrinet, said, “Our fourth quarter was exceptional, capping off a remarkable year of accelerating growth and strong momentum. We achieved record quarterly revenue of $1.316 billion, exceeding our guidance range, and increasing 45% from a year ago. Through excellent execution, our non-GAAP EPS grew even faster, and also reached a new all-time high. For the full fiscal year, revenue increased 36% to $4.6 billion. As we look to fiscal year 2027, we remain very optimistic about the strength of our business and durability in the growth trends we are seeing, as multiple, significant growth drivers across our business contribute to our success.”
Fabrinet shares dipped 18.5% to trade at $487.79 on Tuesday.
These analysts made changes to their price targets on Fabrinet following earnings announcement.
- Barclays analyst Tim Long maintained the stock with an Overweight rating and raised the price target from $702 to $739.
- JP Morgan analyst Joseph Cardoso maintained the stock with a Neutral and raised the price target from $680 to $695.
Considering buying FN stock? Here’s what analysts think:
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