Somewhat Favorable Media Coverage Somewhat Unlikely to Impact Fabrinet (FN) Share Price

News articles about Fabrinet (NYSE:FN) have been trending somewhat positive this week, according to Accern. Accern ranks the sentiment of media coverage by reviewing more than twenty 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 daily sentiment score of 0.14 on Accern’s scale. Accern also assigned news articles about the technology company an impact score of 45.5269192178406 out of 100, indicating that recent media coverage is somewhat unlikely to have an effect on the stock’s share price in the near term.

A number of research analysts have commented on the stock. B. Riley reiterated a “buy” rating and set a $46.50 price target on shares of Fabrinet in a research report on Monday, August 28th. Northland Securities set a $50.00 price target on shares of Fabrinet and gave the company a “buy” rating in a research report on Tuesday, August 22nd. Piper Jaffray Companies reiterated an “overweight” rating and set a $51.00 price target (down from $55.00) on shares of Fabrinet in a research report on Tuesday, August 22nd. J P Morgan Chase & Co reiterated an “overweight” rating and set a $54.00 price target (down from $57.00) on shares of Fabrinet in a research report on Tuesday, August 22nd. Finally, BidaskClub cut shares of Fabrinet from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 22nd. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. Fabrinet has an average rating of “Hold” and a consensus target price of $46.42.

Fabrinet (NYSE:FN) opened at $29.76 on Friday. The company has a quick ratio of 1.85, a current ratio of 2.70 and a debt-to-equity ratio of 0.03. Fabrinet has a fifty-two week low of $28.60 and a fifty-two week high of $49.63. The stock has a market cap of $1,118.65, a P/E ratio of 11.86, a PEG ratio of 1.12 and a beta of 0.99.

Fabrinet declared that its Board of Directors has initiated a stock repurchase program on Monday, August 21st that permits the company to repurchase $30.00 million in outstanding shares. This repurchase authorization permits the technology company to reacquire up to 21% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

In other news, insider David T. Mitchell sold 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of $30.03, for a total value of $1,501,500.00. Following the transaction, the insider now owns 111,057 shares in the company, valued at $3,335,041.71. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.30% of the stock is currently owned by company 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.

Insider Buying and Selling by Quarter for Fabrinet (NYSE:FN)

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