News articles about Fabrinet (NYSE:FN) have trended somewhat positive recently, according to Accern Sentiment. Accern identifies negative and positive media coverage by analyzing more than 20 million news and blog sources in real time. Accern ranks coverage of publicly-traded companies on a scale of negative one to one, with scores nearest to one being the most favorable. Fabrinet earned a coverage optimism score of 0.19 on Accern’s scale. Accern also gave press coverage about the technology company an impact score of 46.6028064220443 out of 100, meaning that recent media coverage is somewhat unlikely to have an effect on the stock’s share price in the immediate future.
These are some of the news stories that may have effected Accern Sentiment’s analysis:
Fabrinet opened at $36.49 on Monday, MarketBeat.com reports. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.01 and a current ratio of 2.84. Fabrinet has a 1-year low of $24.02 and a 1-year high of $47.02. The stock has a market capitalization of $1.35 billion, a P/E ratio of 14.20, a PEG ratio of 1.20 and a beta of 0.58.
Fabrinet (NYSE:FN) last posted its quarterly earnings data on Monday, May 7th. The technology company reported $0.71 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.71. Fabrinet had a net margin of 6.36% and a return on equity of 12.48%. The company had revenue of $332.20 million for the quarter, compared to analyst estimates of $319.17 million. During the same period in the prior year, the company posted $0.80 EPS. The firm’s revenue for the quarter was down 9.4% on a year-over-year basis. sell-side analysts expect that Fabrinet will post 2.53 EPS for the current fiscal year.
Fabrinet announced that its board has authorized a share buyback program on Monday, February 5th that permits the company to repurchase $30.00 million in outstanding shares. This repurchase authorization permits the technology company to purchase shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.
A number of research analysts recently commented on the stock. B. Riley increased their price target on shares of Fabrinet to $38.00 and gave the company a “buy” rating in a report on Tuesday, May 8th. Northland Securities reaffirmed a “buy” rating and issued a $35.00 price target on shares of Fabrinet in a report on Tuesday, April 17th. ValuEngine lowered shares of Fabrinet from a “buy” rating to a “hold” rating in a research report on Monday, April 2nd. Stifel Nicolaus reduced their price objective on shares of Fabrinet from $40.00 to $35.00 and set a “buy” rating on the stock in a research report on Wednesday, January 24th. Finally, Needham & Company LLC reissued a “strong-buy” rating and issued a $40.00 price objective (down from $45.00) on shares of Fabrinet in a research report on Tuesday, February 6th. Two analysts have rated the stock with a sell rating, two have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $40.17.
In other news, insider David T. Mitchell sold 40,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 1st. The shares were sold at an average price of $30.04, for a total transaction of $1,201,600.00. Following the transaction, the insider now directly owns 111,057 shares of the company’s stock, valued at $3,336,152.28. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider David T. Mitchell sold 90,020 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $29.29, for a total transaction of $2,636,685.80. Following the transaction, the insider now directly owns 111,057 shares in the company, valued at $3,252,859.53. The disclosure for this sale can be found here. Insiders sold a total of 210,020 shares of company stock worth $6,271,086 over the last three months. 3.30% of the stock is currently owned by corporate insiders.
Fabrinet Company Profile
Fabrinet provides optical packaging and precision optical, electro-mechanical, and electronic manufacturing services to original equipment manufacturers of optical communication components, modules and sub-systems, industrial lasers, medical devices, and sensors. It offers a range of optical and electro-mechanical capabilities across the manufacturing process, including process design and engineering, supply chain management, manufacturing, printed circuit board assembly, packaging, integration, final assembly, and test.
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