News articles about Fabrinet (NYSE:FN) have been trending somewhat positive recently, AlphaOne reports. AlphaOne, a unit of Accern, identifies positive and negative press coverage by monitoring more than 20 million news and blog sources. AlphaOne ranks coverage of companies on a scale of -1 to 1, with scores closest to one being the most favorable. Fabrinet earned a media sentiment score of 0.10 on AlphaOne’s scale. AlphaOne also assigned news stories about the technology company an impact score of 50 out of 100, meaning that recent press coverage is somewhat likely to have an effect on the company’s share price in the next few days.
Here are some of the news stories that may have impacted Alpha One’s analysis:
Several brokerages recently weighed in on FN. B. Riley reiterated a “buy” rating and issued a $44.75 price target on shares of Fabrinet in a report on Thursday. Piper Jaffray Companies raised their price objective on shares of Fabrinet from $55.00 to $58.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 7th. Stifel Nicolaus raised their price objective on shares of Fabrinet from $50.00 to $52.00 and gave the stock a “buy” rating in a research note on Tuesday, February 7th. Needham & Company LLC reaffirmed a “hold” rating on shares of Fabrinet in a research note on Tuesday, February 7th. Finally, Zacks Investment Research cut shares of Fabrinet from a “buy” rating to a “hold” rating in a research note on Tuesday, January 10th. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the stock. Fabrinet currently has an average rating of “Buy” and an average price target of $51.29.
Shares of Fabrinet (NYSE:FN) traded up 1.58% during midday trading on Friday, hitting $32.81. 982,495 shares of the stock were exchanged. Fabrinet has a one year low of $31.59 and a one year high of $49.63. The firm has a 50 day moving average of $38.93 and a 200-day moving average of $40.69. The company has a market cap of $1.21 billion, a price-to-earnings ratio of 13.86 and a beta of 1.50.
Fabrinet (NYSE:FN) last announced its quarterly earnings data on Monday, February 6th. The technology company reported $0.91 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.79 by $0.12. Fabrinet had a return on equity of 15.24% and a net margin of 7.32%. The firm had revenue of $351.20 million for the quarter, compared to analyst estimates of $335.07 million. During the same quarter in the prior year, the company posted $0.50 earnings per share. Fabrinet’s quarterly revenue was up 50.7% on a year-over-year basis. Equities analysts expect that Fabrinet will post $3.47 EPS for the current year.
In related news, CEO David T. Mitchell sold 75,000 shares of the company’s stock in a transaction on Monday, April 3rd. The stock was sold at an average price of $41.33, for a total transaction of $3,099,750.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Insiders have sold 225,000 shares of company stock worth $8,815,500 in the last ninety days. 4.30% of the stock is currently 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.