On June 16, Fabrinet fell 5.33% in regular trading, trading at $601.05/share, with turnover of $67 million. The decline comes as post-earnings volatility continues to weigh on the stock, with sector-wide weakness amplifying selling pressure.
On the news front, although the company previously reported record fiscal Q3 results with revenue of $1.21 billion and EPS surging 47.6% year-over-year, management issued relatively cautious guidance citing upstream component shortages that are limiting Datacom shipments. Since the earnings release, the stock has pulled back from approximately $679, accumulating a decline exceeding 14%. While a brief oversold rebound materialized in recent sessions, persistent supply bottlenecks continue to constrain near-term earnings delivery, undermining investor confidence.
Within the Electronic Manufacturing Services sector, the overall tone remains weak. Among individual stocks, Celestica fell 3.05%, Flex Ltd fell 2.18%, TE Connectivity fell 0.26%, while Jabil Circuit edged up 0.16% and TTM Technologies gained 0.97%. The broad sector softness has intensified pressure on Fabrinet, causing prior rebound gains to be partially retraced.
(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