FN Stock Summary and Trading Ideas (Fabrinet | NYSE:FN)

Fabrinet is a United States-based company that is principally engaged in providing outsourced manufacturing services to original equipment manufacturers (OEM). These OEM customers are mainly companies in complex industries that require precision manufacturing capabilities. The company offers a wide range of optical and electro-mechanical manufacturing capabilities across the whole producing process. It helps its customers to manufacture various products, such as selective switching products, active optical cables, tunable transponders and transceivers, lasers, and sensors. The company generates the majority of revenue from North America and Asia-Pacific, with the rest from Europe.

Fabrinet trades on the NYSE stock market under the symbol FN.

As of April 23, 2024, FN stock price climbed to $165.33 with 2,417 million shares trading.

FN has a beta of 1.61, meaning it tends to be more sensitive to market movements. FN has a correlation of 0.15 to the broad based SPY ETF.

FN has a market cap of $6.01 billion. This is considered a Mid Cap stock.

Last quarter Fabrinet reported $713 million in Revenue and $2.08 earnings per share. This beat revenue expectation by $20 million and exceeded earnings estimates by $.05.

In the last 3 years, FN stock traded as high as $229.02 and as low as $74.57.

The top ETF exchange traded funds that FN belongs to (by Net Assets): IJR, VTI, VB, IWM, VXF.

FN has outperformed the market in the last year with a return of +73.3%, while the SPY ETF gained +23.4%. However, in the most recent history, FN shares have underperformed the stock market with its stock returning -18.7% in the last 3 month period and -12.3% for the last 2 week period, while SPY has returned +4.1% and -3.3%, respectively.

FN support price is $159.90 and resistance is $168.44 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that FN stock will trade within this expected range on the day.