On June 30, Fabrinet rose 5.13% in regular trading, trading at $557.36/share, with turnover of $72.93 million. The stock staged a technical recovery after pulling back from approximately $679 to $543 following its fiscal Q3 earnings release.
On the news front, the Electronic Manufacturing Services sector collectively strengthened, with Flex Ltd up 2.49%, Jabil Circuit up 1.79%, TE Connectivity up 1.90%, TTM Technologies up 1.72%, and Celestica up 1.22%, indicating broad sector linkage supporting the rebound. The company previously reported fiscal Q3 results that significantly beat expectations, with adjusted EPS of $3.72 versus the $3.56 consensus estimate (a 4.49% beat) and revenue of $1.214 billion versus the $1.181 billion estimate, representing 47.6% year-over-year EPS growth. However, relatively cautious forward guidance and upstream component shortages constraining datacom shipments had weighed on shares in subsequent weeks, driving the extended pullback that preceded today's recovery.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
Comments