Fabrinet (NYSE:FN) Stock

Fabrinet

Fabrinet provides advanced optical packaging and precision optical, electro-mechanical, and electronic manufacturing services to original equipment manufacturers of complex products, such as optical communication components, modules and sub-systems, industrial lasers, automotive components, medical devices, and sensors. The company offers a broad range of advanced 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 testing. The company generates the majority of its revenue from North America and Asia-Pacific, with the rest from Europe.

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These Analysts Revise Their Forecasts On Fabrinet After Q2 Results

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FN shares down premarket after reporting Q2 results, beating revenue and EPS expectations. Company remains optimistic, authorizes $100M buyback.

Fabrinet Q2: Earnings Beat, Moderated Datacom Demand, Expanded Stock Buyback &amp; More

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<h3>Gainers</h3>
<ul>
<li>Palantir Technologies (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NASDAQ">PLTR</a>) shares increased by 22.9% to $102.9 during Tuesday's pre-market session. The company's market cap stands at $234.4 billion. As per the news, the Q4 earnings report came out yesterday. </li>
<li>Alpha Modus Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMOD#NASDAQ">AMOD</a>) stock moved upwards by 22.6% to $3.2. The market value of their outstanding shares is at $42.2 million. </li>
<li>Saverone 2014 (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SVRE#NASDAQ">SVRE</a>) shares increased by 12.91% to $0.6. The company's market cap stands at $4.4 million. </li>
<li>Silicon Laboratories (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SLAB#NASDAQ">SLAB</a>) shares moved upwards by 12.44% to $151.57. The company's market cap stands at $4.9 billion. The company's, Q4 earnings came out today. </li>
<li>ZenaTech (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZENA#NASDAQ">ZENA</a>) stock rose 10.36% to $4.79. The market value of their outstanding shares is at $84.6 million. </li>
<li>Mobix Labs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MOBX#NASDAQ">MOBX</a>) shares increased by 8.62% to $1.26. The market value of their outstanding shares is at $46.5 million. </li>
</ul>
<h3>Losers</h3>
<ul>
<li>SmartKem (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMTK#NASDAQ">SMTK</a>) stock declined by 17.2% to $2.5 during Tuesday's pre-market session. The company's market cap stands at $8.9 million. </li>
<li>Cyngn (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CYN#NASDAQ">CYN</a>) stock declined by 9.67% to $0.11. The company's market cap stands at $2.2 million. </li>
<li>Fabrinet (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FN#NYSE">FN</a>) shares declined by 8.69% to $206.0. The company's market cap stands at $7.4 billion. The company's, Q2 earnings came out yesterday. </li>
<li>Arteris (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AIP#NASDAQ">AIP</a>) shares fell 7.33% to $9.61. The market value of their outstanding shares is at $386.1 million. </li>
<li>Applied Optoelectronics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAOI#NASDAQ">AAOI</a>) stock fell 7.09% to $24.0. The company's market cap stands at $1.1 billion. </li>
<li>Inseego (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INSG#NASDAQ">INSG</a>) stock fell 6.33% to $11.06. The market value of their outstanding shares is at $165.4 million. 
See Also: <a href="http://www.benzinga.com/money/tech-stocks/" title="www.benzinga.com/money/tech-stocks/">www.benzinga.com/money/tech-stocks/</a></li>
</ul>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

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12 Information Technology Stocks Moving In Tuesday's Pre-Market Session

Fabrinet (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FN#NYSE">FN</a>) reported upbeat second-quarter <a href="https://www.benzinga.com/quote/FN/earnings">results on Monday</a>.
Revenue was $833.6 million, beating the consensus of $814.3 million. Adjusted EPS of $2.61 exceeded the consensus of $2.50.
"Our telecom performance was very strong and benefited from both increasing demand for datacenter interconnect products as well as early progress from recent systems wins," Seamus Grady, Chief Executive Officer of Fabrinet, said. "While datacom demand has slightly moderated near-term we continue to anticipate more rapid growth as next-generation products ramp production. With several positive trends, we are very optimistic as we look to the third quarter and beyond."
Fabrinet expects third-quarter FY25 revenue of $850 million – $870 million, surpassing street view of $825.72 million. The company also projects adjusted EPS of $2.55 – $2.63 vs. street view of $2.55.
Fabrinet shares fell 9.6% to trade at $203.79 on Tuesday.
These analysts made changes to their price targets on Fabrinet following earnings announcement.
<ul>
<li>JP Morgan analyst Samik Chatterjee maintained Fabrinet with a Neutral and lowered the price target from $275 to $265.</li>
<li>Barclays analyst George Wang maintained Fabrinet with an Equal-Weight and lowered the price target from $292 to $245.</li>
<li>Rosenblatt analyst Mike Genovese maintained the stock with a Buy and raised the price target from $280 to $285.</li>
<li>Needham analyst Ryan Koontz, meanwhile, reiterated Fabrinet with a Buy and maintained a $280 price target.</li>
</ul>
Considering buying FN stock? Here&#8217;s what analysts think: 
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="483" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/04133927/image-29-1024x483.png" alt="" class="wp-image-765483" style="width:555px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/04133927/image-29-1024x483.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/04133927/image-29-300x142.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/04133927/image-29-768x362.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/04133927/image-29.png 1125w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
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WIIM

Fabrinet shares are trading lower after JP Morgan cut its price target on the stock from $275 to $265.

JP Morgan analyst Samik Chatterjee maintains Fabrinet (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FN#NYSE">FN</a>) with a Neutral and lowers the price target from $275 to $265.

JP Morgan Maintains Neutral on Fabrinet, Lowers Price Target to $265

Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our <a href="https://www.benzinga.com/analyst-stock-ratings">analyst ratings page</a>.
<ul>
<li>Stephens &amp; Co. raised Tyson Foods, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSN#NYSE">TSN</a>) price target from $60 to $63. Stephens &amp; Co. analyst Pooran Sharma maintained an Equal-Weight rating. Tyson shares closed at $57.74 on Monday. <a href="https://www.benzinga.com/quote/TSN/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Cantor Fitzgerald raised the price target for Bristol-Myers Squibb Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMY#NYSE">BMY</a>) from $50 to $55. Cantor Fitzgerald analyst Olivia Brayer maintained a Neutral rating. Bristol-Myers Squibb shares closed at $59.95 on Monday. <a href="https://www.benzinga.com/quote/BMY/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Wells Fargo raised Marriott International, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MAR#NASDAQ">MAR</a>) price target from $262 to $285. Wells Fargo analyst Daniel Politzer maintained an Equal-Weight rating. Marriott shares closed at $290.46 on Monday. <a href="https://www.benzinga.com/quote/MAR/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Cantor Fitzgerald raised the price target for Palantir Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NASDAQ">PLTR</a>) from $72 to $98. Cantor Fitzgerald analyst Thomas Blakey maintained a Neutral rating. Palantir shares closed at $83.74 on Monday. <a href="https://www.benzinga.com/quote/PLTR/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Piper Sandler cut the price target for Steven Madden, Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SHOO#NASDAQ">SHOO</a>) from $45 to $40. Piper Sandler analyst Anna Andreeva maintained a Neutral rating. Steven Madden shares closed at $38.32 on Monday. <a href="https://www.benzinga.com/quote/SHOO/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Morgan Stanley cut L3Harris Technologies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LHX#NYSE">LHX</a>) price target from $260 to $250. Morgan Stanley analyst Kristine Liwag maintained an Equal-Weight rating. L3Harris shares settled at $212.78 on Monday. <a href="https://www.benzinga.com/quote/LHX/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Barclays raised Baker Hughes Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BKR#NYSE">BKR</a>) price target from $51 to $55. Barclays analyst David Anderson maintained an Overweight rating. Baker Hughes shares closed at $47.40 on Monday. <a href="https://www.benzinga.com/quote/BKR/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Baird cut AECOM (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ACM#NYSE">ACM</a>) price target from $125 to $17. Baird analyst Andrew Wittmann maintained an Outperform rating. AECOM shares closed at $103.85 on Monday.  <a href="https://www.benzinga.com/quote/MSFT/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Rosenblatt raised the price target for Fabrinet (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FN#NYSE">FN</a>) from $280 to $285. Rosenblatt analyst Mike Genovese maintained a Buy rating. Fabrinet shares settled at $225.60 on Monday. <a href="https://www.benzinga.com/quote/FN/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Piper Sandler cut McDonald&#8217;s Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MCD#NYSE">MCD</a>) price target from $297 to $290. Piper Sandler analyst Aisling Grueninger maintained a Neutral rating. McDonald&#8217;s shares closed at $290.05 on Monday. <a href="https://www.benzinga.com/quote/MCD/analyst-ratings">See how other analysts view this stock</a>.</li>
</ul>
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McDonald's To $290? Here Are 10 Top Analyst Forecasts For Tuesday

Fabrinet (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FN#NYSE">FN</a>) shares are trading lower premarket on Tuesday after it reported second-<a target="_blank" href="https://www.benzinga.com/pressreleases/25/02/g43448895/fabrinet-announces-second-quarter-fiscal-year-2025-financial-results" rel="noreferrer noopener">quarter results on Monday</a>.
Revenue was $833.6 million, beating the consensus of $814.3 million. Adjusted EPS of $2.61 exceeded<a href="https://www.benzinga.com/earnings" target="_blank" rel="noreferrer noopener"> the consensus of $2.50</a>.
Seamus Grady, Chief Executive Officer of Fabrinet, said, &#8220;Our telecom performance was very strong and benefited from both increasing demand for datacenter interconnect products as well as early progress from recent systems wins.&#8221;
&#8221;While datacom demand has slightly moderated near-term we continue to anticipate more rapid growth as next-generation products ramp production. With several positive trends, we are very optimistic as we look to the third quarter and beyond.&#8221;
As of December 27, 2024, cash and cash equivalents stood at $934.6 million.
Buyback: The Board of Directors approved an expansion of its share repurchase program, authorizing the buyback of up to an additional $100 million in ordinary shares.
This increase raises the total authorization under the existing repurchase program to $534.3 million.
Outlook: Fabrinet expects third-quarter FY25 revenue of $850 million &#8211; $870 million, surpassing <a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">street view of $825.72 million</a>.
The company also projects adjusted EPS of $2.55 &#8211; $2.63 vs. street view of $2.55.
Investors can gain exposure to the stock via&nbsp;Vanguard Russell 2000 Growth ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VTWG#NASDAQ">VTWG</a>) and iShares Russell 2000 Growth ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWO#NYSE">IWO</a>).
Price Action: FN shares are down 9.77% at $203.55 premarket at the last check Tuesday.
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Fabrinet Q2: Earnings Beat, Moderated Datacom Demand, Expanded Stock Buyback & More

U.S. stock futures were mostly lower this morning, with the Dow futures falling around 100 points on Tuesday.
Shares of PayPal Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PYPL#NASDAQ">PYPL</a>) fell sharply in today's pre-market trading following <a href="https://www.benzinga.com/quote/PYPL/earnings">fourth-quarter earnings</a>.
PayPal reported quarterly earnings of $1.19 per share which beat the analyst consensus estimate of $1.12 per share. The company reported quarterly sales of $8.366 billion which beat the analyst consensus estimate of $8.256 billion.
PayPal's board also authorized a $15 billion stock repurchase program.
PayPal shares fell 6.8% to $83.38 in the pre-market trading session.
Here are some other stocks moving lower in pre-market trading.
<ul>
<li>Merck &amp; Co., Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MRK#NYSE">MRK</a>) fell 8.4% to $91.42 in pre-market trading after the company issued 2025 sales guidance below analyst estimates.</li>
<li>The Estée Lauder Companies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EL#NYSE">EL</a>) shares fell 7.1% to $76.88 in pre-market trading after the company issued weak third-quarter guidance.</li>
<li>Fabrinet (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FN#NYSE">FN</a>) fell 6.9% to $209.97 in pre-market trading after the company reported second-quarter financial results..</li>
<li>UBS Group AG (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UBS#NYSE">UBS</a>) fell 6.1% to $32.81 in pre-market trading. UBS Group reported stronger-than-expected earnings for its fourth quarter and disclosed a share buyback program of up to $3 billion.</li>
<li>Ponce Financial Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PDLB#NASDAQ">PDLB</a>) declined 5.3% to $12.61 in pre-market trading.</li>
<li>Illumina, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ILMN#NASDAQ">ILMN</a>) shares dipped 5.2% to $124.31 in pre-market trading after the Chinese Ministry of Commerce added the company, along with Calvin Klein owner PVH Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PVH#NYSE">PVH</a>) to the unreliable entities list amid the ongoing trade war with the U.S.</li>
<li>Oruka Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ORKA#NASDAQ">ORKA</a>) fell 4.7% to $13.05 in pre-market trading.</li>
</ul>
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Pre-Market Outlook

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PayPal, Estée Lauder, UBS And Other Big Stocks Moving Lower In Tuesday's Pre-Market Session

Fabrinet (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FN#NYSE">FN</a>) has been analyzed by 5 analysts in the last three months, revealing a diverse range of perspectives from bullish to bearish.
The table below summarizes their recent ratings, showcasing the evolving sentiments within the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th align="right">Bullish</th>
<th align="right">Somewhat Bullish</th>
<th align="right">Indifferent</th>
<th align="right">Somewhat Bearish</th>
<th align="right">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td align="right">2</td>
<td align="right">0</td>
<td align="right">2</td>
<td align="right">0</td>
<td align="right">1</td>
</tr>
<tr>
<td>Last 30D</td>
<td align="right">2</td>
<td align="right">0</td>
<td align="right">1</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">1</td>
<td align="right">0</td>
<td align="right">1</td>
</tr>
</tbody>
</table>
Providing deeper insights, analysts have established 12-month price targets, indicating an average target of $256.0, along with a high estimate of $292.00 and a low estimate of $178.00. Experiencing a 2.1% decline, the current average is now lower than the previous average price target of $261.50. 
<img src="https://www.benzinga.com/files/images/story/2025/1738674079_0.png" alt="price target chart" />
<h2>Decoding Analyst Ratings: A Detailed Look</h2>
The standing of Fabrinet among financial experts becomes clear with a thorough analysis of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>George Wang</td>
<td>Barclays</td>
<td>Lowers</td>
<td>Equal-Weight</td>
<td>$245.00</td>
<td>$292.00</td>
</tr>
<tr>
<td>Mike Genovese</td>
<td>Rosenblatt</td>
<td>Raises</td>
<td>Buy</td>
<td>$285.00</td>
<td>$280.00</td>
</tr>
<tr>
<td>Ryan Koontz</td>
<td>Needham</td>
<td>Maintains</td>
<td>Buy</td>
<td>$280.00</td>
<td>$280.00</td>
</tr>
<tr>
<td>Dave Kang</td>
<td>B. Riley Securities</td>
<td>Lowers</td>
<td>Sell</td>
<td>$178.00</td>
<td>$194.00</td>
</tr>
<tr>
<td>George Wang</td>
<td>Barclays</td>
<td>Announces</td>
<td>Equal-Weight</td>
<td>$292.00</td>
<td>-</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts adapt their recommendations to changing market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their response to recent developments related to Fabrinet. This information provides a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Gaining insights, analysts provide qualitative assessments, ranging from 'Outperform' to 'Underperform'. These ratings reflect expectations for the relative performance of Fabrinet compared to the broader market.</li>
<li>Price Targets: Analysts navigate through adjustments in price targets, providing estimates for Fabrinet's future value. Comparing current and prior targets offers insights into analysts' evolving expectations.</li>
</ul>
To gain a panoramic view of Fabrinet's market performance, explore these analyst evaluations alongside essential financial indicators. Stay informed and make judicious decisions using our Ratings Table.
<a href="https://www.benzinga.com/quote/FN/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Fabrinet analyst ratings.</a>
<h2>Discovering Fabrinet: A Closer Look</h2>
Fabrinet provides advanced optical packaging and precision optical, electro-mechanical, and electronic manufacturing services to original equipment manufacturers of complex products, such as optical communication components, modules and sub-systems, industrial lasers, automotive components, medical devices, and sensors. The company offers a broad range of advanced 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 testing. The company generates the majority of its revenue from North America and Asia-Pacific, with the rest from Europe.
<h3>Fabrinet's Economic Impact: An Analysis</h3>
Market Capitalization Highlights: Above the industry average, the company's market capitalization signifies a significant scale, indicating strong confidence and market prominence.
Revenue Growth: Fabrinet's remarkable performance in 3 months is evident. As of 30 September, 2024, the company achieved an impressive revenue growth rate of 17.32%. This signifies a substantial increase in the company's top-line earnings. As compared to competitors, the company surpassed expectations with a growth rate higher than the average among peers in the Information Technology sector.
Net Margin: Fabrinet's net margin excels beyond industry benchmarks, reaching 9.62%. This signifies efficient cost management and strong financial health.
Return on Equity (ROE): The company's ROE is a standout performer, exceeding industry averages. With an impressive ROE of 4.33%, the company showcases effective utilization of equity capital.
Return on Assets (ROA): Fabrinet's financial strength is reflected in its exceptional ROA, which exceeds industry averages. With a remarkable ROA of 3.24%, the company showcases efficient use of assets and strong financial health.
Debt Management: Fabrinet's debt-to-equity ratio is below the industry average at 0.0, reflecting a lower dependency on debt financing and a more conservative financial approach.
<h2>How Are Analyst Ratings Determined?</h2>
Analysts work in banking and financial systems and typically specialize in reporting for stocks or defined sectors. Analysts may attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish "analyst ratings" for stocks. Analysts typically rate each stock once per quarter.
Some analysts also offer predictions for helpful metrics such as earnings, revenue, and growth estimates to provide further guidance as to what to do with certain tickers. It is important to keep in mind that while stock and sector analysts are specialists, they are also human and can only forecast their beliefs to traders.
Which Stocks Are Analysts Recommending Now?
Benzinga Edge gives you instant access to all major analyst upgrades, downgrades, and price targets. Sort by accuracy, upside potential, and more. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=be8be9arja3be22bz21&amp;utm_source=benzinga-insights">Click here to stay ahead of the market</a>.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Breaking Down Fabrinet: 5 Analysts Share Their Views

Barclays analyst George Wang maintains Fabrinet (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FN#NYSE">FN</a>) with a Equal-Weight and lowers the price target from $292 to $245.

Barclays Maintains Equal-Weight on Fabrinet, Lowers Price Target to $245

Rosenblatt analyst Mike Genovese maintains Fabrinet (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FN#NYSE">FN</a>) with a Buy and raises the price target from $280 to $285.

Rosenblatt Maintains Buy on Fabrinet, Raises Price Target to $285

<h3>Gainers</h3>
<ul>
<li>Palantir Technologies (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NASDAQ">PLTR</a>) shares rose 21.1% to $101.45 during Tuesday's pre-market session. The company's market cap stands at $231.1 billion. The company's, Q4 earnings came out yesterday. </li>
<li>GCT Semiconductor Hldgs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GCTS#NYSE">GCTS</a>) shares moved upwards by 8.91% to $2.2. The market value of their outstanding shares is at $105.0 million. </li>
<li>Blend Labs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLND#NYSE">BLND</a>) shares moved upwards by 8.48% to $4.09. The company's market cap stands at $1.0 billion. </li>
<li>MicroCloud Hologram (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOLO#NASDAQ">HOLO</a>) stock rose 7.63% to $1.55. The market value of their outstanding shares is at $31.8 million. </li>
<li>Arqit Quantum (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARQQ#NASDAQ">ARQQ</a>) stock moved upwards by 7.58% to $21.43. The company's market cap stands at $273.1 million. </li>
<li>Super Micro Computer (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>) shares increased by 7.15% to $28.77. The market value of their outstanding shares is at $16.8 billion. </li>
</ul>
<h3>Losers</h3>
<ul>
<li>SmartKem (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMTK#NASDAQ">SMTK</a>) stock decreased by 17.2% to $2.5 during Tuesday's pre-market session. The market value of their outstanding shares is at $8.9 million. </li>
<li>Orangekloud Technology (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ORKT#NASDAQ">ORKT</a>) shares decreased by 15.39% to $1.32. The company's market cap stands at $30.5 million. </li>
<li>Fabrinet (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FN#NYSE">FN</a>) shares fell 6.95% to $209.94. The company's market cap stands at $7.6 billion. As per the press release, Q2 earnings came out yesterday. </li>
<li>My Size (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MYSZ#NASDAQ">MYSZ</a>) stock fell 6.61% to $1.98. The market value of their outstanding shares is at $2.4 million. </li>
<li>AuthID (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AUID#NASDAQ">AUID</a>) stock declined by 5.51% to $6.35. The company's market cap stands at $69.3 million. </li>
<li>Trident Digital Tech (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TDTH#NASDAQ">TDTH</a>) stock fell 5.44% to $0.74. The company's market cap stands at $47.7 million. 
See Also: <a href="http://www.benzinga.com/money/tech-stocks/" title="www.benzinga.com/money/tech-stocks/">www.benzinga.com/money/tech-stocks/</a></li>
</ul>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

ARQQ

AUID

BLND

GCTS

MicroCloud Hologram Inc. - Ordinary Shares

HOLO

MYSZ

ORKT

SMCI

TDTH

Needham analyst Ryan Koontz reiterates Fabrinet (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FN#NYSE">FN</a>) with a Buy and maintains $280 price target.

Reiteration

Needham Reiterates Buy on Fabrinet, Maintains $280 Price Target

General

Fabrinet shares are trading higher after the company reported better-than-expected Q2 financial results.

Fabrinet (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FN#NYSE">FN</a>) released its Q2 earnings on Monday, February 3, 2025 at 04:15 PM.
Here's what's important from the earnings announcement.
<h3>Earnings</h3>
Fabrinet beat estimated earnings by 5.0%, reporting an EPS of $2.61 versus an estimate of $2.49.
Revenue was up $120.91 million from the same period last year.
<h3>Performance in Previous Earnings</h3>
The company beat on EPS by $0.01 in the last quarter, resulting in a 4.0% drop share price change the following day.
Here's a look at Fabrinet's past performance:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q1 2025</th>
<th>Q4 2024</th>
<th>Q3 2024</th>
<th>Q2 2024</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>2.38</td>
<td>2.24</td>
<td>2.11</td>
<td>2.03</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>2.39</td>
<td>2.41</td>
<td>2.39</td>
<td>2.08</td>
</tr>
<tr>
<td>Revenue Estimate</td>
<td>770.37M</td>
<td>732.22M</td>
<td>716.91M</td>
<td>693.15M</td>
</tr>
<tr>
<td>Revenue Actual</td>
<td>804.23M</td>
<td>753.26M</td>
<td>731.53M</td>
<td>712.69M</td>
</tr>
</tbody>
</table>

To track all earnings releases for Fabrinet <a href="https://www.benzinga.com/quote/FN/earnings">visit their earnings calendar here.</a> 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Earnings Summary: Fabrinet Q2

Fabrinet Announces Expansion Of Its Share Repurchase Program, Authorizing The Repurchase Of Up To An Additional $100M Of Fabrinet's Ordinary Shares

Fabrinet Sees Q3 2025 Revenue $850M-$870M Vs $825.720M Estimate; Sees Adj. EPS $2.55-$2.63 Vs $2.55 Est

Fabrinet (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FN#NYSE">FN</a>) reported quarterly earnings of $2.61 per share which beat the analyst consensus estimate of $2.50 by 4.4 percent. This is a 25.48 percent increase over earnings of $2.08 per share from the same period last year. The company reported quarterly sales of $833.60 million which beat the analyst consensus estimate of $814.33 million by 2.37 percent. This is a 16.96 percent increase over sales of $712.69 million the same period last year.

Earnings Beats

Fabrinet Q2 2025 Adj EPS $2.61 Beats $2.50 Estimate, Sales $833.60M Beat $814.33M Estimate

U.S. stock futures dropped sharply on Monday after U.S. President Donald Trump imposed tariffs on three of its major trade partners, Canada, China, and Mexico.
The new tariffs will begin Tuesday, with a 10% levy on China and a 25% levy on a few Canadian and Mexican imports, each. The U.S. Chamber of Commerce warns of supply chain disruptions and higher family costs, citing concerns over trade with Mexico worth $46 billion in agricultural products, and Canada valued at $97 billion in energy supplied.
The U.S. dollar index strengthened over 1% following this announcement.
All major index futures were down, with the Russell 2000 falling more than 2%. This drop comes after the indices had posted gains for three consecutive weeks.
Companies reporting earnings this week include Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), Google parent Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>), Palantir Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NASDAQ">PLTR</a>), and Fortinet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTNT#NASDAQ">FTNT</a>).
The 10-year Treasury yield stood at 4.54%, while the two-year yield was at 4.27%. According to the CME Group's FedWatch <a href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">tool</a>, there is an 86.5% chance that the Federal Reserve will keep interest rates unchanged for the March meeting.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Futures</td>
<td>Change (+/-)</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>-1.78%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>-1.57%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>-1.38%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>-2.14%</td>
</tr>
</tbody>
</table>
</figure>
The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and Invesco QQQ Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) both experienced negative premarket trading on Monday. SPY fell 1.51% to $592.76, and QQQ plunged 1.72% to $513.33, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.
Cues From The Last Session
Energy, IT, and materials stocks led the decline on Friday as the U.S. markets reacted to new tariffs on the country's three largest suppliers &#8211; Canada, Mexico, and China.
Communication services and consumer discretionary stocks were exceptions. The news overshadowed strong earnings from Exxon Mobil Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>).
On the economic front, the U.S. personal income rose 0.4% in December (up from 0.3% in November), while personal spending climbed 0.7% to an annualized rate of $20.387 trillion. The core PCE price index increased 0.2%.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Index</td>
<td>Performance (+/-)</td>
<td>Value</td>
</tr>
<tr>
<td>Nasdaq Composite</td>
<td>-0.28%</td>
<td>19,627.44</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>-0.50%</td>
<td>6,040.53</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>-0.75%</td>
<td>44,544.66</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>-0.86%</td>
<td>2,287.69</td>
</tr>
</tbody>
</table>
</figure>
Insights From Analysts
The newly issued tariffs as highlighted by Treasury Secretary Scott Bessent will be used to bring manufacturing back to the U.S. It will also be used to raise revenues to help pay for extending Trump&#8217;s 2017 tax cuts and as a lever to negotiate with other countries as an alternative to sanctions.
However, Ed Yardeni and Eric Wallerstein in their QuickTakes note mentioned that &#8220;During Trump 1.0, tariff hikes by the U.S. seem to have depressed merchandise imports in 2018 and 2019. But they also depressed U.S. exports because global economic growth was weakened by trade tensions.&#8221;
Ryan Detrick, the chief market strategist at Carson Research highlighted in an X post that February is historically the worst month during a post-election year.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">February is historically the worst year during a post election year, so maybe rough seas this month shouldn&#39;t be a shock? Is it just a President likes to get all the bad stuff out of the way early? <a href="https://t.co/kooyDUoqs7">pic.twitter.com/kooyDUoqs7</a>
&mdash; Ryan Detrick, CMT (@RyanDetrick) <a href="https://twitter.com/RyanDetrick/status/1886221160209363356?ref_src=twsrc%5Etfw">February 3, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Furthermore, Detrick pointed out that &#8220;the first quarter of a post-election year usually isn&#8217;t all that strong.&#8221;
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Yes, it was a very strong January for stocks, but be aware the first quarter of a post-election year usually isn&#39;t all that strong. <a href="https://t.co/nZx4SPu4XX">pic.twitter.com/nZx4SPu4XX</a>
&mdash; Ryan Detrick, CMT (@RyanDetrick) <a href="https://twitter.com/RyanDetrick/status/1886223993058812398?ref_src=twsrc%5Etfw">February 3, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
He added that the S&amp;P 500 has been up eight of the past nine quarters. &#8220;One of these days it&#8217;ll fall and that is perfectly normal.&#8221;
According to Ivan Martchev, investment strategist at Navellier &amp; Associates, &#8220;Seasonality is not a promise.&#8221;
Martchev highlighted that December was supposed to be strong, but it turned out to be weak. He added that since 1928, September has been the weakest seasonal month, but last year only the first week was down while the rest of the month was strong.
&#8220;So as we approach February which is weak over the long term, we must remember that seasonality is a guideline, but it can deviate widely each year,&#8221; he added.
See Also: <a href="https://www.benzinga.com/money/how-to-trade-futures">How to Trade Futures</a> 
Upcoming Economic Data
Here&#8217;s what investors will keep an eye on for the week:
<ul>
<li>On Monday, January&#8217;s S&amp;P final U.S. manufacturing PMI will be released at 9:45 a.m., ET.</li>
</ul>
<ul>
<li>December&#8217;s construction spending data and January&#8217;s ISM manufacturing data will be announced at 10:00 a.m., ET.</li>
</ul>
<ul>
<li>Atlanta Fed President Raphael Bostic will speak at noon, and auto sales data for January will also be released on Monday.</li>
</ul>
<ul>
<li>On Tuesday, December&#8217;s job openings and factory orders data will be out at 10:00 a.m., ET</li>
</ul>
<ul>
<li>Atlanta Fed President Raphael Bostic will speak again at 11:00 a.m., ET on Tuesday, on the topic of housing.</li>
</ul>
<ul>
<li>San Francisco Fed President Daly will speak at 2:00 p.m., ET and Federal Reserve Vice Chairman Philip Jefferson will speak at 7:30 p.m., ET.</li>
</ul>
<ul>
<li>On Wednesday, January&#8217;s ADP employment data will be out at 8:15 a.m., and December&#8217;s U.S. trade deficit data will be released at 8:30 a.m., ET.</li>
</ul>
<ul>
<li>Richmond Fed President Tom Barkin will speak at 9:00 a.m., ET.</li>
</ul>
<ul>
<li>January&#8217;s S&amp;P final U.S. services PMI will be announced at 9:45 a.m. and ISM services data will be out by 10:00 a.m., ET.</li>
</ul>
<ul>
<li>Chicago Fed President Goolsbee will speak at 1:00 p.m., Fed Governor Michelle Bowman will speak at 3:00 p.m., and Fed Vice Chairman Philip Jefferson will speak again at 7:30 p.m., ET.</li>
</ul>
<ul>
<li>On Thursday, initial jobless claims till Feb. 1 and the U.S. productivity data for the fourth quarter will be out at 8:30 a.m., ET.</li>
</ul>
<ul>
<li>Fed Governor Christopher Waller will speak at 2:30 p.m. and Dallas Fed President Lorie Logan will speak at 5:10 p.m., ET.</li>
</ul>
<ul>
<li>On Friday, the U.S. employment, unemployment, and hourly wages report for January will be out at 8:30 a.m., ET.</li>
</ul>
<ul>
<li>Fed Governor Michelle Bowman will speak again at 9:25 a.m., ET.</li>
</ul>
<ul>
<li>December&#8217;s wholesale inventory data will be announced at 10:00 a.m., ET.</li>
</ul>
<ul>
<li>January&#8217;s preliminary consumer sentiment data will be out at 10:00 a.m., ET.</li>
</ul>
<ul>
<li>December&#8217;s consumer credit will be released at 3:00 p.m., ET.</li>
</ul>
Stocks In Focus:
<ul>
<li>Palantir Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NASDAQ">PLTR</a>) was down 2.68% in the premarket on Monday as it is expected to report its fourth-quarter earnings after market hours. According to Benzinga's consensus estimates, the company is expected to report earnings of $0.11 per share on revenue of $775.91 million.</li>
</ul>
<ul>
<li>Super Micro Computer Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>) declined 3.26% as it is expected to report its earnings after having missed filing reports since March 31 quarterly results in May 2024.</li>
</ul>
<ul>
<li>MicroStrategy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) slipped 5.73% as Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) fell over 4% to $95,403.03 per coin.</li>
</ul>
<ul>
<li>Tyson Foods Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSN#NYSE">TSN</a>) was up 1.56% ahead of its earnings before the opening bell. Analysts expect it to report quarterly earnings of 88 cents per share on revenue of $13.44 billion.</li>
</ul>
<ul>
<li>Clorox Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLX#NYSE">CLX</a>) was down 0.20% as Wall Street expects it to report quarterly earnings of $1.41 per share on revenue of $1.63 billion after the closing bell.</li>
</ul>
<ul>
<li>Fabrinet (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FN#NYSE">FN</a>) declined 2.87% ahead of its earnings after the closing bell. Analysts expect it to report quarterly earnings of $2.50 per share on revenue of $814.33 million.</li>
</ul>
<ul>
<li>NXP Semiconductors NV (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NXPI#NASDAQ">NXPI</a>) dropped 2.56% as Wall Street expects it to report quarterly earnings of $3.14 per share on revenue of $3.10 billion after the closing bell.</li>
</ul>
<ul>
<li>Territorial Bancorp Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TBNK#NASDAQ">TBNK</a>) was down 7.52% after it reported a net loss of $1.72 million, or 20 cents per share, for the fourth quarter.</li>
</ul>
Commodities, Gold And Global Equity Markets:
Crude oil futures were trading higher in the early New York session by 2.29% to hover around $74.19 per barrel.
The gold spot index was down by 0.16% to $2,796.63 per ounce. The Dollar Index was up 1.09% at 109.554 level.
Asian markets fell sharply on Monday as Hong Kong's Hang Seng, Australia's ASX 200, South Korea's Kospi, China's CSI 300, and Japan's Nikkei 225 index declined. European markets were also lower in trade.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/25/02/43428231/as-dollar-strengthens-after-trumps-tariff-imposition-this-hedge-fund-manager-says-usd-devaluation-is-inevitable-heres-why">Trump Tariffs Strengthen Dollar, But Hedge Fund CEO Sees Impending Decline</a></li>
</ul>
Photo courtesy: Shutterstock

Market Summary

Futures

Economics

$BTC

AMZN

FTNT

GOOG

GOOGL

MSTR

NXPI

TBNK

US Stocks Likely To Open Lower As Trump Imposes Tariffs On China, Canada, And Mexico: Expert Notes Feb Worst Month In Post-Election Years

With U.S. stock futures trading lower this morning on Monday, some of the stocks that may grab investor focus today are as follows:
<ul>
<li>Wall Street expects Tyson Foods Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSN#NYSE">TSN</a>) to report quarterly earnings at 88 cents per share on revenue of $13.44 billion before the opening bell, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>. Tyson Foods shares gained 0.2% to $56.60 in after-hours trading.</li>
<li>Analysts are expecting Clorox Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLX#NYSE">CLX</a>) to post quarterly earnings at $1.41 per share on revenue of $1.63 billion. The company will release earnings after the markets close. Clorox shares slipped 0.2% to $158.36 in after-hours trading.</li>
<li>Territorial Bancorp Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TBNK#NASDAQ">TBNK</a>) reported a net loss of $1.72 million, or 20 cents per share, for the fourth quarter. Territorial Bancorp shares fell 0.9% to $9.03 in the after-hours trading session.</li>
</ul>
Check out our <a href="https://www.benzinga.com/premarket/">premarket coverage here</a>
<ul>
<li>After the closing bell, Fabrinet (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FN#NYSE">FN</a>) is projected to post quarterly earnings at $2.50 per share on revenue of $814.33 million. Fabrinet shares slipped 0.1% to $216.13 in after-hours trading.</li>
<li>Analysts expect NXP Semiconductors N.V. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NXPI#NASDAQ">NXPI</a>) to post quarterly earnings at $3.14 per share on revenue of $3.10 billion after the closing bell. NXP Semiconductors shares fell 0.1% to $208.43 in after-hours trading.</li>
</ul>
Check This Out: 
<ul>
<li><a href="https://www.benzinga.com/25/01/43390127/wall-streets-most-accurate-analysts-give-their-take-on-3-energy-stocks-delivering-high-dividend-yields">Wall Street&#8217;s Most Accurate Analysts Give Their Take On 3 Energy Stocks Delivering High-Dividend Yields</a></li>
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