Fabrinet (FN) Receives Media Impact Rating of 0.07
Media coverage about Fabrinet (NYSE:FN) has been trending somewhat positive recently, according to Accern Sentiment. The research group identifies negative and positive news coverage by monitoring more than twenty million news and blog sources. Accern ranks coverage of publicly-traded companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Fabrinet earned a daily sentiment score of 0.07 on Accern’s scale. Accern also gave press coverage about the technology company an impact score of 45.9325500132026 out of 100, meaning that recent news coverage is somewhat unlikely to have an effect on the stock’s share price in the immediate future.
FN has been the topic of a number of recent research reports. Needham & Company LLC increased their target price on Fabrinet from $56.00 to $60.00 and gave the company a “strong-buy” rating in a report on Monday, June 26th. Zacks Investment Research raised Fabrinet from a “sell” rating to a “hold” rating in a report on Wednesday, July 12th. ValuEngine raised Fabrinet from a “hold” rating to a “buy” rating in a report on Wednesday, August 2nd. Stifel Nicolaus reissued a “buy” rating on shares of Fabrinet in a report on Tuesday, August 22nd. Finally, BidaskClub downgraded Fabrinet from a “hold” rating to a “sell” rating in a report on Monday, July 31st. Two research analysts have rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $51.58.
Shares of Fabrinet (FN) traded down 0.64% during mid-day trading on Thursday, reaching $37.45. The company’s stock had a trading volume of 353,356 shares. The firm’s 50-day moving average price is $37.99 and its 200 day moving average price is $39.50. Fabrinet has a 12-month low of $31.97 and a 12-month high of $49.63. The firm has a market cap of $1.40 billion, a P/E ratio of 14.57 and a beta of 1.15.
Fabrinet (NYSE:FN) last issued its quarterly earnings data on Monday, August 21st. The technology company reported $0.72 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.83 by ($0.11). The company had revenue of $370.50 million during the quarter, compared to analyst estimates of $363.41 million. Fabrinet had a net margin of 6.84% and a return on equity of 15.32%. The business’s quarterly revenue was up 34.0% compared to the same quarter last year. During the same period last year, the firm earned $0.60 EPS. On average, analysts expect that Fabrinet will post $3.46 EPS for the current year.
Fabrinet declared that its Board of Directors has initiated a stock buyback plan on Monday, August 21st that authorizes the company to repurchase $30.00 million in shares. This repurchase authorization authorizes the technology company to buy up to 21% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.
In other news, CEO David T. Mitchell sold 105,000 shares of the business’s stock in a transaction dated Friday, August 25th. The stock was sold at an average price of $38.63, for a total value of $4,056,150.00. Following the completion of the transaction, the chief executive officer now owns 111,057 shares of the company’s stock, valued at approximately $4,290,131.91. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Harpal Gill sold 50,000 shares of the business’s stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $39.07, for a total value of $1,953,500.00. Following the completion of the transaction, the chief operating officer now directly owns 194,193 shares of the company’s stock, valued at approximately $7,587,120.51. The disclosure for this sale can be found here. In the last three months, insiders sold 207,500 shares of company stock valued at $8,034,350. Insiders own 4.30% of the company’s stock.
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Fabrinet Company Profile
Fabrinet provides optical packaging and precision optical, electro-mechanical and electronic manufacturing services to original equipment manufacturers (OEMs) of products, such as optical communication components, modules and sub-systems, industrial lasers, medical devices and sensors. The Company offers a range of optical and electro-mechanical capabilities across the manufacturing process, including process design and engineering, supply chain management, manufacturing, complex printed circuit board assembly, advanced packaging, integration, final assembly and test.
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