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

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.

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

As of September 19, 2024, FN stock price climbed to $233.54 with 115,344 million shares trading.

FN has a beta of 2.29, meaning it tends to be more sensitive to market movements. FN has a correlation of 0.38 to the broad based SPY ETF.

FN has a market cap of $8.44 billion. This is considered a Mid Cap stock.

Last quarter Fabrinet reported $753 million in Revenue and $2.41 earnings per share. This beat revenue expectation by $21 million and exceeded earnings estimates by $.17.

In the last 3 years, FN stock traded as high as $278.38 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 price return of +55.8% while the SPY ETF gained +29.7%. However, in the short term, FN had mixed performance relative to the market. It has underperformed in the last 3 months, returning -8.2% vs +4.3% return in SPY. But in the last 2 weeks, FN shares have fared better than the market returning +3.7% compared to SPY +3.5%.

FN support price is $221.46 and resistance is $236.62 (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.