Technology

Stock within Traders Concentration: Fabrinet (NYSE: FN)

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On Thursday Fabrinet (NYSE: FN) has shown upward move of +3.34% and ended the last trade at $37.43. The trading volume was recorded to 242,876 shares as compared to average traded volume of 400,053 shares.

Fabrinet (NYSE: FN) reported its financial results for its third quarter ended March 30, 2018.

GAAP Results

Revenue for the third quarter of fiscal year 2018 was $332.2M, contrast to revenue of $366.8M for the comparable period in fiscal year 2017.

GAAP net income for the third quarter of fiscal year 2018 was $21.1M, contrast to GAAP net income of $21.7M for the third quarter of fiscal year 2017. GAAP net income for the third quarter of fiscal year 2018 included a foreign exchange loss of $2.4M, or $0.06 per diluted share, contrast to a foreign exchange loss of $3.7M, or $0.10 per diluted share, for the third quarter of fiscal year 2017.

GAAP net income per diluted share for the third quarter of fiscal year 2018 was $0.55, contrast to GAAP net income per diluted share of $0.57 for the third quarter of fiscal year 2017.

Non-GAAP Results

Non-GAAP net income for the third quarter of fiscal year 2018 was $26.9M, contrast to non-GAAP net income of $30.5M for the third quarter of fiscal year 2017. Non-GAAP net income for the third quarter of fiscal year 2018 included a foreign exchange loss of $2.4M, or $0.06 per diluted share, contrast to a foreign exchange loss of $3.7M, or $0.10 per diluted share, for the third quarter of fiscal year 2017.

Non-GAAP net income per diluted share for the third quarter of fiscal year 2018 was $0.71, contrast to non-GAAP net income per diluted share of $0.80 for the same period a year ago.

Share Repurchase Program Update

Fabrinet repurchased about 422,000 ordinary shares at an average price of $29.58 during the third quarter.

Business Outlook

Based on information accessible as of May 7, 2018, Fabrinet is issuing guidance for its fourth fiscal quarter ending June 29, 2018, as follows:

Fabrinet expects fourth quarter revenue to be in the range of $334M to $342M.

GAAP net income per diluted share is predictable to be in the range of $0.55 to $0.59, based on about 37.9M fully diluted shares outstanding.

Non-GAAP net income per diluted share is predictable to be in the range of $0.73 to $0.77, based on about 37.9M fully diluted shares outstanding.

The average true range of Fabrinet’s (FN) is recorded at 1.03 and the relative strength index of the stock stands 58.41. The stock price is going above to its 52 week low with 55.83% and lagging behind from its 52 week high with -20.40%. Analyst recommendation for this stock stands at 2.00. A look on the firm performance, its monthly performance is 2.52% and a quarterly performance of 20.01%. The stock price is trading upbeat from its 200 days moving average with 14.95% and up from 50 days moving average with 6.30%.

 

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