Fabrinet ( (FN) ) is experiencing volatility. Read on for a possible explanation for the stock’s unusual movement.
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Fabrinet shares fell despite the company reporting record second-quarter revenue of $1.13 billion and earnings that came in above its own guidance. Investors appear concerned that the strong results and upbeat outlook may already be fully priced into the stock, prompting some profit-taking even as management points to multiple large strategic programs, solid execution, and operating leverage as reasons for continued strength into the next quarter under robust guidance. No major analyst price target changes were mentioned, suggesting the market reaction is more about expectations and valuation than new formal revisions to forecasts.
More about Fabrinet
YTD Price Performance: 7.50%
Average Trading Volume: 635,751
Technical Sentiment Signal: Buy
Current Market Cap: $17.54B
For further insights into FN stock on TipRanks’ Stock Analysis page.
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