Fabrinet (FN) Receiving Somewhat Favorable Media Coverage, Analysis Finds

Media headlines about Fabrinet (NYSE:FN) have trended somewhat positive on Saturday, Accern reports. Accern ranks the sentiment of news coverage by monitoring more than 20 million news and blog sources in real time. Accern ranks coverage of companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Fabrinet earned a media sentiment score of 0.12 on Accern’s scale. Accern also gave news coverage about the technology company an impact score of 45.4585419703053 out of 100, meaning that recent news coverage is somewhat unlikely to have an impact on the company’s share price in the near future.

These are some of the media stories that may have effected Accern Sentiment Analysis’s scoring:

Fabrinet (NYSE:FN) traded up 0.48% during midday trading on Friday, hitting $35.95. The company had a trading volume of 894,702 shares. The company has a market capitalization of $1.34 billion, a P/E ratio of 13.99 and a beta of 1.14. The stock has a 50 day moving average price of $39.82 and a 200 day moving average price of $39.83. Fabrinet has a 52 week low of $31.97 and a 52 week high of $49.63.

Fabrinet (NYSE:FN) last announced its quarterly earnings data on Monday, August 21st. The technology company reported $0.72 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.83 by ($0.11). Fabrinet had a return on equity of 15.32% and a net margin of 6.84%. The firm had revenue of $370.50 million during the quarter, compared to the consensus estimate of $363.41 million. During the same period last year, the company earned $0.60 EPS. The firm’s revenue for the quarter was up 34.0% compared to the same quarter last year. Equities analysts forecast that Fabrinet will post $3.46 earnings per share for the current fiscal year.

Fabrinet declared that its Board of Directors has initiated a stock repurchase program on Monday, August 21st that permits the company to repurchase $30.00 million in outstanding shares. This repurchase authorization permits the technology company to buy up to 21% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its shares are undervalued.

A number of equities research analysts have recently weighed in on FN shares. BidaskClub lowered Fabrinet from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. ValuEngine lowered Fabrinet from a “buy” rating to a “hold” rating in a research report on Monday, August 14th. Stifel Nicolaus reiterated a “buy” rating and issued a $48.00 price objective on shares of Fabrinet in a research report on Friday, July 14th. Zacks Investment Research upgraded Fabrinet from a “sell” rating to a “hold” rating in a research report on Wednesday, July 12th. Finally, Northland Securities set a $50.00 price target on Fabrinet and gave the company a “buy” rating in a research report on Tuesday, August 22nd. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the company. Fabrinet presently has an average rating of “Hold” and an average target price of $50.93.

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In other Fabrinet news, CEO David T. Mitchell sold 105,000 shares of the stock in a transaction on Friday, August 25th. The stock was sold at an average price of $38.63, for a total transaction of $4,056,150.00. Following the sale, 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 Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO David T. Mitchell sold 52,500 shares of the stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $41.22, for a total value of $2,164,050.00. Following the sale, the chief executive officer now directly owns 42,631 shares in the company, valued at approximately $1,757,249.82. The disclosure for this sale can be found here. In the last three months, insiders sold 260,000 shares of company stock worth $10,198,400. 4.30% of the stock is owned by insiders.

About Fabrinet

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.

Insider Buying and Selling by Quarter for Fabrinet (NYSE:FN)

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