Fabrinet (NYSE:FN) reported better-than-expected fourth-quarter financial results for fiscal 2025 on Monday after the market close.
Fabrinet reported fourth-quarter revenue of $909.69 million, beating analyst estimates of $884.87 million, according to Benzinga Pro. The company reported fourth-quarter adjusted earnings of $2.65 per share, beating estimates of $2.64 per share.
"Our fourth quarter was exceptional, capping off a remarkable year with strong momentum. We achieved record quarterly revenue of $910 million, exceeding our guidance range. Through excellent execution, our non-GAAP EPS also reached a new all-time high," said Seamus Grady, CEO of Fabrinet.
Fabrinet expects fiscal first-quarter revenue to be in the range of $910 million to $950 million versus estimates of $916.72 million. The company expects first-quarter adjusted earnings to be in the range of $2.75 to $2.90 per share versus estimates of $2.74 per share.
Fabrinet shares fell 10.3% to trade at $293.32 on Tuesday.
These analysts made changes to their price targets on Fabrinet following earnings announcement.
- B. Riley Securities analyst Dave Kang maintained Fabrinet with a Neutral and raised the price target from $184 to $220.
- Barclays analyst Tim Long maintained the stock with an Equal-Weight rating and raised the price target from $234 to $329.
- Rosenblatt analyst Mike Genovese maintained Fabrinet with a Buy and maintained a $360 price target.
- Needham analyst Ryan Koontz reiterated Fabrinet with a Buy and maintained a $350 price target.
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