News articles about Fabrinet (NYSE:FN) have been trending somewhat positive this week, Accern Sentiment reports. The research firm identifies negative and positive news coverage by reviewing more than twenty million blog and news sources in real-time. Accern ranks coverage of public companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Fabrinet earned a media sentiment score of 0.11 on Accern’s scale. Accern also gave media coverage about the technology company an impact score of 46.3089302337497 out of 100, meaning that recent news coverage is somewhat unlikely to have an effect on the company’s share price in the near term.
FN has been the topic of a number of analyst reports. Needham & Company LLC lifted their price target on Fabrinet from $56.00 to $60.00 and gave the stock a “strong-buy” rating in a research note on Monday, June 26th. Zacks Investment Research raised Fabrinet from a “sell” rating to a “hold” rating in a research note on Wednesday, July 12th. Stifel Nicolaus reissued a “buy” rating and issued a $48.00 price target on shares of Fabrinet in a research note on Friday, July 14th. BidaskClub raised Fabrinet from a “sell” rating to a “hold” rating in a research note on Sunday, July 16th. Finally, ValuEngine upgraded Fabrinet from a “hold” rating to a “buy” rating in a research report on Wednesday, August 2nd. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the company’s stock. Fabrinet has an average rating of “Hold” and an average price target of $51.58.
Shares of Fabrinet (NYSE:FN) traded down 1.33% during midday trading on Wednesday, reaching $37.02. The company’s stock had a trading volume of 290,766 shares. The company has a market cap of $1.38 billion, a price-to-earnings ratio of 14.40 and a beta of 1.15. Fabrinet has a 12 month low of $31.97 and a 12 month high of $49.63. The stock has a 50-day moving average of $37.65 and a 200 day moving average of $39.35.
Fabrinet (NYSE:FN) last announced its quarterly earnings results 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 business had revenue of $370.50 million during the quarter, compared to the consensus estimate of $363.41 million. During the same quarter last year, the company earned $0.60 earnings per share. The firm’s revenue was up 34.0% compared to the same quarter last year. On average, analysts predict that Fabrinet will post $3.46 earnings per share for the current fiscal year.
Fabrinet declared that its board has initiated a share buyback program on Monday, August 21st that permits the company to buyback $30.00 million in shares. This buyback authorization permits the technology company to repurchase up to 21% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board believes its shares are undervalued.
In related news, CFO Toh-Seng Ng sold 22,500 shares of the stock in a transaction dated Wednesday, August 30th. The stock was sold at an average price of $39.00, for a total transaction of $877,500.00. Following the completion of the transaction, the chief financial officer now directly owns 201,749 shares in the company, valued at $7,868,211. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Thomas F. Kelly sold 30,000 shares of the stock in a transaction dated Tuesday, August 29th. The stock was sold at an average price of $38.24, for a total value of $1,147,200.00. Following the transaction, the director now owns 64,635 shares of the company’s stock, valued at $2,471,642.40. The disclosure for this sale can be found here. Over 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 corporate 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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