Revenue Update on Fabrinet(NYSE:FN)

Fabrinet(NYSE:FN) announced the earnings results for Fiscal Year 2017 and Q2. The results came in during After-Market on Feb 6, 2017. Company reported revenue of $351.156M. Analysts estimated a revenue of $335.070M. The revenues were 4.8% above the estimates. Earnings per share were $0.91. The reported EPS was above estimates by 15.19%. Analysts had estimated an EPS of $0.79.

In a different note, On Jan 17, 2017, Needham said it Upgrades its rating on Fabrinet. The shares have been rated ‘Strong Buy’ by the firm.

Fabrinet (FN) made into the market gainers list on Tuesdays trading session with the shares advancing 2.23% or 0.94 points. Due to strong positive momentum, the stock ended at $43.04, which is also near the day’s high of $44.9. The stock began the session at $44.47 and the volume stood at 35,25,783 shares. The 52-week high of the shares is $46.5 and the 52 week low is $25.815. The company has a current market capitalization of $1,589 M and it has 3,69,18,462 shares in outstanding.

Several Insider Transactions has been reported to the SEC. On Feb 2, 2017, David T. Mitchell (CEO & Chairman) sold 75,000 shares at $41.81 per share price.Also, On Aug 23, 2016, Rollance E. Olson (director) sold 5,000 shares at $40.06 per share price.On Jun 2, 2016, Harpal Gill (President & COO) sold 82,703 shares at $35.06 per share price, according to the Form-4 filing with the securities and exchange commission.

Fabrinet provides optical packaging and precision optical electro-mechanical and electronic manufacturing services to original equipment manufacturers (OEMs) of complex 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 entire manufacturing process including process design and engineering supply chain management manufacturing complex printed circuit board assembly advanced packaging integration final assembly and test. The Company focuses primarily on the production of low-volume high-mix products. The Company operates primarily in three geographic regions: North America Asia-Pacific and Europe. The products offered by the Company include optical communications devices solid state diode-pumped gas and fiber lasers and sensors.

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