Fabrinet (FN)


May 5, 2025

FN: First Look at FQ3 (Mar) Results and Outlook

By Steven Fox

Fabrinet (FN; $220.90; O/P) reported FQ3 (Mar) non-GAAP EPS of $2.52, which was ahead of our $2.48 and the Street’s $2.50 on better-than-expected sales of $872mm (vs. our consensus matching $856mm). As illustrated in the…

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April 28, 2025

FN: Positive Set Up into March Quarter Print

By Steven Fox

We believe the shares of Fabrinet (FN; $198.55; O/P), which are still down 26% over the past 3+ months, prove oversold when the company reports FQ3 (Mar) results and outlook next Monday (5/5 after market)…

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March 13, 2025

FN: Adds an Exclamation Point to Sales Growth Diversification Story

By Steven Fox

This morning, Fabrinet (FN; $224.91; O/P) announced it entered into a transaction agreement with Amazon (AMZN; $198.89; NR), which, among other things, includes the issuance of a warrant by Fabrinet to Amazon. More importantly, we…

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March 4, 2025

FN: More For the Growth Diversification Story

By Steven Fox

We think Nokia’s (NOK; $4.88; NR) $2.3B acquisition of Infinera, completed last Friday (2/28), potentially opens another new outsourcing opportunity for Fabrinet (FN; $190.35; O/P) in coming quarters, which would add further to the diversification…

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February 18, 2025

FN: The EMS Pure Play on Bandwidth Demand; Initiate with Outperform

By Steven Fox

We initiate coverage with an Outperform rating and $270 target on the shares of Fabrinet (FN; $223.04), which has proven to be the most consistent electronics manufacturing services (EMS) provider in the industry through an…

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