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FN

Fabrinet

$60.65

2.35 (4.03%)

16:40
11/04/19
11/04
16:40
11/04/19
16:40

Fabrinet reports Q1 adjusted EPS 86c, consensus 82c

Reports Q1 revenue $399.3M, consensus $390.3M. Seamus Grady, Chief Executive Officer of Fabrinet, said, "We had a strong start to the year with fiscal first quarter revenue and earnings that exceeded our guidance ranges. We have made significant progress establishing a new product introduction facility in Israel that we expect to be operational in the first part of calendar 2020. We believe Fabrinet Israel can mirror the success we have seen at Fabrinet West in California by attracting new customers and deepening relationships with existing customers. This development, along with our ongoing business success reinforce our confidence as we look ahead."

  • 04

    Nov

  • 13

    Nov

FN Fabrinet
$60.65

2.35 (4.03%)

07/29/19
JPMS
07/29/19
INITIATION
Target $57
JPMS
Neutral
Fabrinet initiated with a Neutral at JPMorgan
JPMorgan analyst Samik Chatterjee started Fabrinet with a Neutral rating and $57 price target. The analyst says limited upside on margins and risks to near-term estimates from the "dynamic situation" relative to sanctions on Huawei keep him on the sidelines.
08/09/19
NEED
08/09/19
NO CHANGE
Target $70
NEED
Buy
Fabrinet price target raised to $70 from $62 at Needham
Needham analyst Alex Henderson raised his price target on Fabrinet to $70 and kept his Buy rating ahead of its earnings on August 19th. The analyst expects a "strong print and guide", since "virtually every company" in the Optical space reported stronger than expected results this quarter. Henderson adds that the concerns related to Fabrinet's exposure to Huawei also appear to be "overdone".
08/20/19
PIPR
08/20/19
NO CHANGE
Target $64
PIPR
Overweight
Fabrinet price target lowered to $64 from $69 at Piper Jaffray
Piper Jaffray analyst Troy Jensen lowered his price target on Fabrinet (FN) to $64 after its below-consensus Q1 outlook related to concerns about the industrial laser market remaining weak. The analyst also points to the Huawei ban hampering sales for component supplies. Jensen still keeps his Overweight rating, stating that Fabrinet remains "one of the better ways to play the optical market" and forecasting more sustained strength in Telco optics and a ramp in Infinera (INFN) sales.
09/30/19
NORL
09/30/19
UPGRADE
Target $57
NORL
Outperform
Fabrinet upgraded to Outperform from Market Perform at Northland
Northland analyst Tim Savageaux upgraded Fabrinet (FN) to Outperform from Market Perform and raised its price target to $57 from $44 saying increased revenues at a healthier Infinera (INFN), SiP growth at Intel (INTC), and positives from LITE telecom strength offset consolidation headwinds in the group. Savageaux also sees upside from demand strength, margin benefits from rapid manufacturing transition to FN, and the launch of coherent edge/access focused XR Optics.

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