Media stories about Fabrinet (NYSE:FN) have trended somewhat positive recently, according to Accern Sentiment Analysis. The research firm scores the sentiment of press coverage by reviewing 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 0.21 on Accern’s scale. Accern also gave news articles about the technology company an impact score of 46.3287068704163 out of 100, meaning that recent press coverage is somewhat unlikely to have an impact on the company’s share price in the next several days.
These are some of the media stories that may have impacted Accern Sentiment’s scoring:
- Performance Evaluation – Fabrinet (NYSE: FN) – Stocks Market Cap (stocksmarketcap.com)
- Fabrinet (FN) – Noticeable Consumer Goods stock of Market – Nasdaq Fortune (press release) (nasdaqfortune.com)
- $321.67 Million in Sales Expected for Fabrinet (FN) This Quarter (americanbankingnews.com)
- EPS Evaluation – Fabrinet (NYSE: FN) – Stocks Market Cap (stocksmarketcap.com)
- $0.72 EPS Expected for Fabrinet (FN) This Quarter (americanbankingnews.com)
FN has been the subject of several recent research reports. ValuEngine cut Fabrinet from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Northland Securities set a $37.00 price target on Fabrinet and gave the company a “buy” rating in a research report on Monday, January 29th. Needham & Company LLC restated a “strong-buy” rating and set a $40.00 target price (down from $45.00) on shares of Fabrinet in a research report on Tuesday, February 6th. Finally, Stifel Nicolaus reduced their target price on Fabrinet from $40.00 to $35.00 and set a “buy” rating for the company in a research report on Wednesday, January 24th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $41.25.
Fabrinet (NYSE:FN) last posted its earnings results on Monday, February 5th. The technology company reported $0.72 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.70 by $0.02. Fabrinet had a return on equity of 12.96% and a net margin of 6.24%. The business had revenue of $337.10 million during the quarter, compared to analysts’ expectations of $329.41 million. During the same period in the previous year, the business earned $0.91 earnings per share. The firm’s revenue was down 4.0% on a year-over-year basis. equities research analysts predict that Fabrinet will post 2.12 EPS for the current year.
Fabrinet announced that its Board of Directors has initiated a stock buyback program on Monday, February 5th that permits the company to buyback $30.00 million in shares. This buyback authorization permits the technology company to reacquire shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.
In other Fabrinet news, insider David T. Mitchell sold 69,801 shares of Fabrinet stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $30.02, for a total transaction of $2,095,426.02. Following the completion of the sale, the insider now owns 111,057 shares of the company’s stock, valued at $3,333,931.14. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider David T. Mitchell sold 8,600 shares of Fabrinet stock in a transaction dated Monday, January 8th. The stock was sold at an average price of $30.02, for a total value of $258,172.00. Following the sale, the insider now directly owns 111,057 shares of the company’s stock, valued at approximately $3,333,931.14. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 240,442 shares of company stock valued at $7,130,099. Corporate insiders own 3.30% of the company’s stock.
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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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