Fabrinet Q2: Earnings Beat, Moderated Datacom Demand, Expanded Stock Buyback & More
Written by Emily J. Thompson, Senior Investment Analyst
Source: Benzinga
Earnings Report: Fabrinet reported second-quarter revenue of $833.6 million and adjusted EPS of $2.61, both exceeding expectations, while CEO Seamus Grady expressed optimism for future growth despite a slight moderation in datacom demand.
Stock Performance and Outlook: FN shares fell 9.77% to $203.55 premarket; the company anticipates third-quarter revenue between $850 million and $870 million, surpassing analyst estimates, and has expanded its share repurchase program by an additional $100 million.
Analyst Views on VTWG
Wall Street analysts forecast VTWG stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for VTWG is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
