Press coverage about Fabrinet (NYSE:FN) has trended somewhat positive on Tuesday, according to Accern. The research group scores the sentiment of news coverage by analyzing more than twenty million news and blog sources in real time. Accern ranks coverage of public companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Fabrinet earned a media sentiment score of 0.18 on Accern’s scale. Accern also gave news articles about the technology company an impact score of 45.9666123674859 out of 100, indicating that recent news coverage is somewhat unlikely to have an effect on the company’s share price in the next several days.
These are some of the media stories that may have effected Accern Sentiment Analysis’s rankings:
- Purloined Portfolio features JP Morgan, NetEase (triblive.com)
- Berkshire Hathaway, JP Morgan named on stolen list of stocks that pay off – Omaha World-Herald (omaha.com)
- Weak growth prospects in the future For Fabrinet (FN) – Street Observer (press release) (streetobserver.com)
- Fabrinet (FN) Given Consensus Recommendation of “Hold” by Analysts (americanbankingnews.com)
- Short Interest Drops 10.2% For FN (thestreet.com)
Several research analysts have recently issued reports on FN shares. B. Riley restated a “buy” rating and issued a $44.75 target price on shares of Fabrinet in a report on Friday, August 18th. BidaskClub upgraded shares of Fabrinet from a “sell” rating to a “hold” rating in a report on Sunday, July 16th. ValuEngine upgraded shares of Fabrinet from a “hold” rating to a “buy” rating in a report on Wednesday, August 2nd. Stifel Nicolaus restated a “buy” rating on shares of Fabrinet in a report on Tuesday, August 22nd. Finally, J P Morgan Chase & Co restated an “overweight” rating and issued a $54.00 target price (down previously from $57.00) on shares of Fabrinet in a report on Tuesday, August 22nd. Two analysts have rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $51.58.
Shares of Fabrinet (NYSE FN) traded down 0.68% during mid-day trading on Tuesday, reaching $36.49. 246,644 shares of the company were exchanged. Fabrinet has a 12 month low of $31.97 and a 12 month high of $49.63. The firm has a market capitalization of $1.36 billion, a price-to-earnings ratio of 14.20 and a beta of 1.15. The company’s 50-day moving average is $37.50 and its 200 day moving average is $39.20.
Fabrinet (NYSE:FN) last released its earnings results on Monday, August 21st. The technology company reported $0.72 earnings per share for the quarter, missing the consensus estimate of $0.83 by ($0.11). Fabrinet had a net margin of 6.84% and a return on equity of 15.32%. The business had revenue of $370.50 million for the quarter, compared to the consensus estimate of $363.41 million. During the same quarter in the previous year, the firm earned $0.60 EPS. The firm’s revenue for the quarter was up 34.0% on a year-over-year basis. Analysts predict that Fabrinet will post $3.46 EPS for the current year.
Fabrinet announced that its board has authorized a stock repurchase plan on Monday, August 21st that allows the company to buyback $30.00 million in shares. This buyback authorization allows the technology company to reacquire up to 21% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board of directors believes its shares are undervalued.
In other news, CEO David T. Mitchell sold 105,000 shares of the business’s stock in a transaction on Friday, August 25th. The shares were sold at an average price of $38.63, for a total transaction 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 $4,290,131.91. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Harpal Gill sold 50,000 shares of the business’s stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $39.07, for a total transaction of $1,953,500.00. Following 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 quarter, insiders have sold 207,500 shares of company stock valued at $8,034,350. 4.30% of the stock is owned by insiders.
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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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