Fabrinet (FN) Receiving Somewhat Favorable Press Coverage, Study Shows
Press coverage about Fabrinet (NYSE:FN) has trended somewhat positive on Thursday, according to Accern. Accern rates the sentiment of news coverage by analyzing more than twenty million blog and news sources. 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 news impact score of 0.20 on Accern’s scale. Accern also assigned media stories about the technology company an impact score of 46.4537113971268 out of 100, indicating that recent news coverage is somewhat unlikely to have an impact on the stock’s share price in the next several days.
These are some of the media stories that may have impacted Accern Sentiment Analysis’s analysis:
- Fabrinet: Rare Value In Technology (seekingalpha.com)
- Fabrinet (FN) Given Average Recommendation of “Buy” by Brokerages (americanbankingnews.com)
- Fabrinet (FN) Expected to Announce Quarterly Sales of $321.67 Million (americanbankingnews.com)
- Analysts Expect Fabrinet (FN) to Announce $0.72 EPS (americanbankingnews.com)
- Stock Traders Buy High Volume of Fabrinet Call Options (FN) (americanbankingnews.com)
Several brokerages recently issued reports on FN. ValuEngine upgraded Fabrinet from a “hold” rating to a “buy” rating in a research report on Thursday, February 8th. Needham & Company LLC reiterated 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. Stifel Nicolaus decreased their price objective on Fabrinet from $40.00 to $35.00 and set a “buy” rating for the company in a research report on Wednesday, January 24th. Northland Securities set a $37.00 price objective on Fabrinet and gave the company a “buy” rating in a research report on Monday, January 29th. Finally, Zacks Investment Research upgraded Fabrinet from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 24th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $41.25.
Fabrinet (NYSE:FN) last released its earnings results on Monday, February 5th. The technology company reported $0.72 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.70 by $0.02. The firm had revenue of $337.10 million for the quarter, compared to analysts’ expectations of $329.41 million. Fabrinet had a return on equity of 12.96% and a net margin of 6.24%. The business’s quarterly revenue was down 4.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.91 EPS. research analysts anticipate that Fabrinet will post 2.12 earnings per share for the current fiscal year.
Fabrinet announced that its board has approved a stock buyback plan on Monday, February 5th that permits the company to repurchase $30.00 million in outstanding shares. This repurchase authorization permits the technology company to buy shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.
In other Fabrinet news, insider David T. Mitchell sold 8,600 shares of the business’s stock in a transaction that occurred on 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 owns 111,057 shares in the company, valued at approximately $3,333,931.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider David T. Mitchell sold 69,801 shares of the business’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $30.02, for a total value of $2,095,426.02. Following the completion of the sale, the insider now owns 111,057 shares in the company, valued at approximately $3,333,931.14. The disclosure for this sale can be found here. Insiders sold a total of 128,401 shares of company stock worth $3,900,098 in the last 90 days. Company insiders own 3.30% of the company’s stock.
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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.
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