Fabrinet (FN) Earning Somewhat Favorable Press Coverage, Report Finds
News articles about Fabrinet (NYSE:FN) have been trending somewhat positive this week, Accern Sentiment reports. Accern rates the sentiment of media coverage by reviewing more than 20 million blog and news sources in real time. Accern ranks coverage of publicly-traded companies on a scale of -1 to 1, with scores closest to one being the most favorable. Fabrinet earned a media sentiment score of 0.11 on Accern’s scale. Accern also assigned news articles about the technology company an impact score of 46.7275397646863 out of 100, indicating that recent media coverage is somewhat unlikely to have an impact on the stock’s share price in the immediate future.
Here are some of the news articles that may have effected Accern Sentiment’s analysis:
- Fabrinet (FN) Director Thomas F. Kelly Sells 30,000 Shares (americanbankingnews.com)
- Koninklijke Philips NV (PHG) and Fabrinet (FN) Go Head-to-head – StockNewsGazette (stocknewsgazette.com)
- Insider Activity – Fabrinet Ordinary Shares (NYSE:FN) – Modern Readers (modernreaders.com)
- Fabrinet (FN) Rating Reiterated by B. Riley (americanbankingnews.com)
- A Side-by-side Analysis of Fabrinet (FN) and CBS Corporation (CBS) – Economic News (economicsandmoney.com)
Fabrinet (FN) traded up 0.96% during trading on Wednesday, reaching $38.94. 202,875 shares of the company’s stock traded hands. The firm has a market capitalization of $1.45 billion, a PE ratio of 15.15 and a beta of 1.08. The firm has a 50 day moving average of $43.04 and a 200 day moving average of $40.69. Fabrinet has a 1-year low of $31.97 and a 1-year high of $49.63.
Fabrinet (NYSE:FN) last announced its quarterly earnings results on Monday, August 21st. The technology company reported $0.72 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.83 by $0.11. The firm had revenue of $370.50 million during the quarter, compared to the consensus estimate of $363.41 million. Fabrinet had a net margin of 6.84% and a return on equity of 15.32%. The company’s quarterly revenue was up 34.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.60 EPS. Equities analysts forecast that Fabrinet will post $3.46 EPS for the current year.
Fabrinet announced that its Board of Directors has approved a stock buyback plan on Monday, August 21st that permits the company to repurchase $30.00 million in shares. This repurchase authorization permits the technology company to buy up to 21% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its stock is undervalued.
A number of equities analysts recently weighed in on FN shares. Zacks Investment Research lowered shares of Fabrinet from a “hold” rating to a “sell” rating in a research report on Tuesday, May 2nd. BidaskClub lowered shares of Fabrinet from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. ValuEngine lowered shares of Fabrinet from a “buy” rating to a “hold” rating in a research report on Monday, August 14th. Needham & Company LLC restated a “strong-buy” rating and set a $56.00 price target on shares of Fabrinet in a research report on Tuesday, May 9th. Finally, Northland Securities set a $50.00 price target on shares of Fabrinet and gave the stock a “buy” rating in a research report on Tuesday, August 22nd. Two investment analysts have rated the stock with a sell rating, one has given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $50.93.
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In related news, CEO David T. Mitchell sold 52,500 shares of the business’s stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $41.22, for a total value of $2,164,050.00. Following the completion of the sale, the chief executive officer now owns 42,631 shares of the company’s stock, valued at approximately $1,757,249.82. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO David T. Mitchell sold 105,000 shares of the business’s stock in a transaction that occurred on Friday, August 25th. The shares were sold at an average price of $38.63, for a total value of $4,056,150.00. Following the completion of the sale, the chief executive officer now directly owns 111,057 shares of the company’s stock, valued at approximately $4,290,131.91. The disclosure for this sale can be found here. In the last three months, insiders sold 240,000 shares of company stock valued at $9,310,950. 4.30% of the stock is currently owned by company insiders.
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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