Core Insights - The Wasatch Small Cap Growth Strategy experienced a decline of -3.17% in Q3 2025, underperforming the Russell 2000 Growth Index which gained 12.19% during the same period [1] - Fabrinet (NYSE:FN) was highlighted as a top stock, achieving a one-month return of 13.02% and a remarkable 98.16% increase over the last 52 weeks, closing at $470.89 per share with a market capitalization of $16.871 billion [2][3] Company Performance - Fabrinet generated $978 million in revenue for fiscal Q1 2026, marking a 22% year-over-year increase and an 8% rise from the previous quarter [4] - The company is experiencing strong adoption of its products across various industries, particularly in data centers, which are linked to the AI sector, although the investment strategy does not focus solely on AI themes [3] Hedge Fund Interest - Fabrinet was held by 44 hedge fund portfolios at the end of Q3 2025, an increase from 32 in the previous quarter, indicating growing interest among institutional investors [4]

Core Viewpoint - Fabrinet, a leading provider of advanced optical packaging and precision manufacturing services, will present at the Barclays 23rd Annual Global Technology Conference in San Francisco on December 10, 2025 [1][2]. Company Overview - Fabrinet specializes in advanced optical packaging and precision optical, electro-mechanical, and electronic manufacturing services for original equipment manufacturers of complex products, including optical communication components, automotive components, medical devices, and industrial lasers [3]. - The company offers a comprehensive range of capabilities across the entire manufacturing process, including process design, supply chain management, manufacturing, advanced packaging, integration, final assembly, and testing [3]. - Fabrinet operates engineering and manufacturing facilities in Thailand, the United States, China, and Israel, focusing on high complexity products in various mixes and volumes [3].

Group 1: Fund Performance - The FPA Queens Road Small Cap Value Fund returned 7.46% in Q3 2025, underperforming the Russell 2000 Value Index which returned 12.60% [1] - For the first three quarters of 2025, the fund achieved a return of 13.77%, outperforming the index's return of 9.04% [1] Group 2: Fabrinet Overview - Fabrinet (NYSE:FN) specializes in optical packaging and precision manufacturing services, with a one-month return of -4.85% and a 52-week gain of 76.79% [2] - As of November 24, 2025, Fabrinet's stock closed at $462.67 per share, with a market capitalization of $16.576 billion [2] Group 3: Fabrinet's Market Position - Fabrinet dominates its niche in optical networking equipment and has shown impressive historical revenue growth and increasing operating margins [3] - The company has a significant customer in Nvidia, which accounts for 10% of its revenue, and has seen its stock price double since April due to rising expectations for data center spending [3] - Fabrinet is expected to continue being a "compounder" in the market, with ongoing demand for high bandwidth networking [3] Group 4: Revenue and Hedge Fund Interest - Fabrinet generated $978 million in revenue for fiscal Q1 2026, marking a 22% year-over-year increase and an 8% increase from the previous quarter [4] - The number of hedge funds holding Fabrinet decreased from 38 to 32 from the previous quarter [4]

Core Insights - Fabrinet reported record revenue of $978 million for the first fiscal quarter, exceeding guidance and driven by strong telecom performance and early contributions from High-Performance Computing revenue [2][6] - The company achieved GAAP net income of $95.9 million, up from $77.4 million year-over-year, with diluted earnings per share (EPS) of $2.66 compared to $2.13 in the previous year [6][22] - Non-GAAP net income reached $105.3 million, an increase from $86.9 million, with non-GAAP diluted EPS of $2.92, up from $2.39 [6][22] - For the second fiscal quarter, Fabrinet expects revenue between $1.05 billion and $1.10 billion, with GAAP diluted EPS guidance of $2.91 to $3.06 and non-GAAP diluted EPS guidance of $3.15 to $3.30 [4][26] Financial Performance - First quarter revenue for fiscal year 2026 was $978.1 million, a 21.6% increase from $804.2 million in the same quarter of fiscal year 2025 [6] - GAAP net income for the first quarter was $95.9 million, representing a 23.9% increase from $77.4 million year-over-year [6] - Non-GAAP net income for the first quarter was $105.3 million, up 21.0% from $86.9 million in the prior year [6] - The company reported a gross profit of $116.4 million, with a gross margin of 11.9% for the first quarter [20] Business Outlook - Fabrinet is optimistic about growth acceleration in the second quarter, supported by multiple tailwinds [2] - The company anticipates continued strong execution in its operations, contributing to revenue growth [2] - Guidance for the second quarter includes expectations for revenue in the range of $1.05 billion to $1.10 billion [4][26]

Core Insights - Fabrinet has appointed Caroline Dowling to its Board of Directors, enhancing its leadership with her extensive experience in global manufacturing and the technology sector [1][2]. Company Overview - Fabrinet is a leading provider of advanced optical packaging and precision manufacturing services for original equipment manufacturers, focusing on complex products such as optical communication components, automotive components, and medical devices [4]. - The company operates manufacturing facilities in Thailand, the USA, China, and Israel, offering a wide range of capabilities across the entire manufacturing process [4]. Leadership Experience - Caroline Dowling has over 20 years of experience at Flex, a top-tier electronic manufacturing services provider, where she held significant leadership roles, including Business Group President [2]. - Dowling's previous roles included managing complex supply chains and leading divisions related to telecommunications and cloud data centers, which will contribute to Fabrinet's strategic direction [2][3]. Board Contributions - Dowling is currently a board member of CRH plc and DCC plc, serving on various committees, which reflects her governance experience [3]. - Her appointment is expected to provide valuable insights and perspectives that will drive long-term value for Fabrinet's stakeholders [3].

Core Insights - LRT Capital Management's "LRT Global Opportunities Strategy" reported a challenging performance in September 2025, with a net return of -8.00% for the month and a year-to-date return of -0.17% [1] - The strategy employs a systematic long/short approach to generate positive returns while managing downside risks and maintaining low net exposure to equity markets [1] Company Highlights - Fabrinet (NYSE:FN) is highlighted as a key stock in the LRT Global Opportunities Strategy, specializing in optical packaging and precision manufacturing services [2][3] - Fabrinet's stock experienced a one-month return of -0.10% but has gained 52.82% over the last 52 weeks, closing at $370.29 per share with a market capitalization of $13.23 billion on October 6, 2025 [2] - The company is recognized for its unique focus on complex manufacturing challenges, positioning itself as a critical partner in the optical communications, industrial laser, and automotive industries, which supports its long-term growth potential [3]

Core Insights - Fabrinet reported exceptional financial results for the fourth quarter and fiscal year 2025, achieving record quarterly revenue of $910 million and annual revenue of $3.4 billion, marking a 19% increase year-over-year [2][6][7]. Financial Highlights - Fourth quarter revenue was $909.7 million, up from $753.3 million in the same quarter of fiscal year 2024 [7]. - GAAP net income for the fourth quarter was $87.2 million, compared to $81.1 million in the fourth quarter of fiscal year 2024 [7]. - Non-GAAP net income for the fourth quarter was $95.6 million, compared to $88.0 million in the same quarter of the previous year [7]. - For fiscal year 2025, GAAP net income was $332.5 million, an increase from $296.2 million in fiscal year 2024 [7]. - Non-GAAP net income for fiscal year 2025 was $368.8 million, compared to $324.6 million in fiscal year 2024 [7]. Business Outlook - Fabrinet expects first quarter revenue for fiscal year 2026 to be in the range of $910 million to $950 million [5]. - The company remains optimistic about the growing demand across all areas of its business, anticipating favorable trends to continue into the first quarter and beyond [2][5]. Operational Performance - The company achieved a gross profit of $111.3 million for the fourth quarter, with a gross margin of 12.2% [27]. - Operating income for the fourth quarter was $89.1 million, reflecting an operating margin of 9.8% [28]. - The company reported a non-GAAP operating profit of $97.5 million for the fourth quarter, with a non-GAAP operating margin of 10.7% [28]. Cash Flow and Investments - Net cash provided by operating activities for fiscal year 2025 was $328.4 million, down from $413.1 million in fiscal year 2024 [31]. - Non-GAAP free cash flow for fiscal year 2025 was $207.3 million, compared to $365.6 million in the previous year [31].

Core Insights - Fabrinet will release its financial results for the fourth quarter and fiscal year 2025 on August 18, 2025, after market close [1] - A conference call and webcast will be held on the same day at 5:00 p.m. EDT to discuss the results [2] Company Overview - Fabrinet is a leading provider of advanced optical packaging and precision manufacturing services for original equipment manufacturers of complex products [3] - The company specializes in optical communication components, automotive components, medical devices, and industrial lasers and sensors [3] - Fabrinet operates engineering and manufacturing facilities in Thailand, the USA, China, and Israel [3]

Core Insights - Fabrinet, a leading provider of advanced optical packaging and precision manufacturing services, will present at the Rosenblatt Securities 5th Annual Technology Summit on June 10, 2025 [1][2]. Company Overview - Fabrinet specializes in manufacturing services for original equipment manufacturers of complex products, including optical communication components, automotive components, medical devices, and industrial lasers [3]. - The company offers a comprehensive range of capabilities throughout the manufacturing process, such as process design, supply chain management, advanced packaging, integration, and testing [3]. - Fabrinet operates engineering and manufacturing facilities in Thailand, the USA, China, and Israel, focusing on high complexity products in various volumes [3].