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Fabrinet (FN) — chart, structure and Closelook read

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Company snapshot — Fabrinet

FN in five paragraphs: what it makes and sells, where it sits in the Closelook stack, who it is priced against, why we track it, what we watch. Research diary, not advice.

What it does
Fabrinet builds optical and electro-mechanical products for other companies rather than selling under its own name. It makes transceivers, tunable lasers, transponders and active optical cables that link GPUs and switches inside data-centre clusters, alongside switching parts such as add-drop multiplexers and amplifiers. It also produces industrial and medical lasers, automotive sensors and precision optical parts like lenses and prisms. Incorporated in the Cayman Islands, its manufacturing runs mainly out of Thailand.
Where it sits in the stack
In our Rubin Build-Out 100 index, Fabrinet sits in Layer 5, Connectivity & Materials, inside the High-Speed Interconnects sleeve — the fabric that turns separate GPUs into a working cluster. It manufactures the optical transceivers and modules that networking-silicon designers specify, making it a supplier of the physical links the build-out depends on.
Who it is priced against
Closelook's peer group prices it against optical-components and laser makers — Coherent, Lumentum, Applied Optoelectronics and Ciena. The wider market also weighs it against Broadcom, whose switching silicon sits alongside Fabrinet's transceivers inside the same networking stack.
Why Closelook tracks it
It is a constituent of the Rubin Build-Out 100 index. It carries a Closelook score, but only one module is scored so far, meaning the score is still being built. The diary has covered it in a report on optical interconnects, in a primer on networking and optical interconnects, and in a glossary entry defining the optical transceiver.
What the diary watches
The diary watches whether Fabrinet's run of earnings beats keeps holding even as its share price trades well below its longer-term averages, since the two have been pulling apart.

Fabrinet (FN) trades on US exchanges in US/Thailand, classified under Technology, and sits in Layer 5 of the build-out stack. Constituent of Rubin Build-Out 100.

The Closelook company score reads 40/100 composite (momentum 5, quality 42, valuation 37) across 7 modules — the full breakdown, chart structure and analog history load live above.

Written from the company’s public profile and Closelook’s own readings, 2026-09-17. Descriptive, refreshed with the registry; corrections welcome via the imprint. closelook.net is an investment research diary — market structure, index membership and scores are our own readings, not investment advice. Related: index compare · sector dispersion · scanner.

Signals for this name

Every Closelook reading that exists for FN, from the same nightly bakes the boards use. Research diary readings, not advice.

The Street on this name 1 analyst action on the wire · latest: price target by Barclays, 2026-08-18

The Street on this name

Analyst actions and the latest print for FN from the Closelook wires — third-party opinions on the record, not our readings.

  • Price target Barclays — target 739 from 702 Target raised to $739 from $702 (+23.5% to spot) 2026-08-18

1 action on the analyst wire since 2026-08-13: 1 target change. Analyst wire → · Earnings wire →

Who it is priced against Optical components and lasers · 4 names with week and year-to-date

Peer group

Optical components and lasers

Curated competitor set — who the market prices this name against, not just who shares its sector.

Compared against FN on the nightly bakes; the Peers tab ranks the cohort on the Closelook scores where it exists.

Versus its index Rubin Build-Out 100 — the name, its sleeve and the index over day, week and month

Versus its index

The name against its Closelook index and its own sleeve — equal-weight, nightly closes.

Rubin Build-Out 100 · as of 2026-09-23

DayWeekMonth3 months
FN−0.7%+2.1%−4.8%−29.4%
High-Speed Interconnects−1.4%+7.4%+2.5%—
Rubin Build-Out 100+0.1%+6.6%+5.1%—

Against the index: 4.5 pts behind on the week, 9.9 pts behind on the month; against its High-Speed Interconnects sleeve 7.3 pts behind on the month.

Returns from the index workers’ nightly closes; equal-weight sleeves. A relative reading from the research diary, not advice.

Dividends and capital return no distribution in twelve months · buybacks 5 m USD in FY2026

Dividends and capital return

What FN pays out and buys back — distributions read from the price series, money terms from the filings.

  • Distributions No cash distribution recorded in the price series over the last three years
  • Buybacks, FY2026 5 m USD 0.0% of today's market value
  • Share count −0.0% in FY2026 35 m USD of stock-based compensation in the year
  • Capital returned 5 m USD · 172% of free cash flow dividends and buybacks together, against the year’s free cash flow

Per-share amounts are derived from the adjusted price series in the listing currency, so dates sit within days of the ex-date; filing figures come from the fundamentals feed for the last reported fiscal year. An investment diary, not a recommendation.

How it trades on rate days beta 0.31 to TLT · on the worst bond days it fell more than the market

How it trades on rate days

How FN has moved when long-dated Treasury yields rise — measured against TLT, the 20+ year Treasury fund.

  • Beta to long bonds, 1 year 0.31 — shows only a loose link to bond moves for every 1% move in TLT (20+ year Treasuries), Fabrinet moved 0.31% on average · correlation 0.04 · higher than 31% of US names
  • Beta, last 3 months 0.56 more rate-sensitive lately than over the year
  • On the 10 worst bond days −1.57% on average against −0.76% for the S&P 500 the 10 sessions of the past year in which TLT fell most, i.e. long yields rose most
  • Latest of those days −0.73% TLT −1.58% that day 2026-09-23

Daily total returns from the adjusted price series; a TLT down day is a day long yields rose. Beta = the average move of the name for a 1% move in TLT. Past sensitivity, not a forecast. An investment diary, not a recommendation.

Weather around the name 3 macro readings: Money Temperature, Factor regime, Sovereign pressure

The weather around this name

Macro readings that apply by membership — the regime, the factor tape, the sector cell, the funding backdrop.

  • Money Temperature Composite 65/100 · S&P 500 fund at 68, bullish alignedEight instruments scored on position, momentum, volume, volatility and fragility — the regime every name trades inside. Temperature lab → 2026-09-23
  • Factor regime Momentum leading — risk appetite buildingMomentum against low volatility (SPMO / SPLV): above its 50-day trend, 99th percentile of the window, +9.3% over 20 sessions. Factor regime → 2026-09-23
  • Sovereign pressure Index 0.60 · up 0.32 over 21 sessionsG7 long-end yields, 10s30s and the slope — the funding weather for every balance sheet on this site. Sovereign pressure → 2026-09-23

FAQ · from the current data · as of 2026-09-24

Quick answers

What is Fabrinet (FN)?

Fabrinet trades as FN on the US exchange (US/Thailand) and is classified under Technology in the Closelook research universe, as of the registry build of 2026-09-24.

Is FN in a Closelook index?

Yes — Fabrinet is a constituent of Rubin Build-Out 100, as of 2026-09-24.

What is Fabrinet's Closelook composite score?

40 out of 100, with momentum 5, quality 42 and valuation 37 sub-scores, as of 2026-09-24. Scores are Closelook's own research readings, not ratings or investment advice.

What is Fabrinet's earnings print record?

Across the 10 prints Closelook covers, Fabrinet beat EPS estimates 10 times and revenue estimates 9 times; the three-day reactions split 4 up, 1 flat and 5 down (moves beyond ±3%), as of the 2026-08-17 card. The full print-record card carries the per-print history.

Where does FN trade against its moving averages?

Resizing — 46.5% off its high: 46.5% below its 52-week high, under its 200-day — a deeper resizing of the trend, not a shallow dip. As of 2026-09-23 — a technical state from the nightly Closelook bake, not advice. The Technical tab carries the full row.

How is FN doing against its Closelook index?

Over the past month Fabrinet is −4.8% against +5.1% for the Rubin Build-Out 100 — 9.9 points behind its index, as of 2026-09-23. Its High-Speed Interconnects sleeve is +2.5% over the same month. The “Versus its index” table on this page carries the day, the week and the month for the name, its sleeve and the index.

What does Fabrinet do?

Fabrinet builds optical and electro-mechanical products for other companies rather than selling under its own name. It makes transceivers, tunable lasers, transponders and active optical cables that link GPUs and switches inside data-centre clusters, alongside switching parts such as add-drop multiplexers and amplifiers. It also produces industrial and medical lasers, automotive sensors and precision optical parts like lenses and prisms. Closelook's peer group prices it against optical-components and laser makers — Coherent, Lumentum, Applied Optoelectronics and Ciena. The wider market also weighs it against Broadcom, whose switching silicon sits alongside Fabrinet's transceivers inside the same networking stack.

Where does Fabrinet sit in the AI build-out?

In our Rubin Build-Out 100 index, Fabrinet sits in Layer 5, Connectivity & Materials, inside the High-Speed Interconnects sleeve — the fabric that turns separate GPUs into a working cluster. It manufactures the optical transceivers and modules that networking-silicon designers specify, making it a supplier of the physical links the build-out depends on. It is a constituent of the Rubin Build-Out 100 index. It carries a Closelook score, but only one module is scored so far, meaning the score is still being built. The diary has covered it in a report on optical interconnects, in a primer on networking and optical interconnects, and in a glossary entry defining the optical transceiver.

Does Fabrinet pay a dividend?

No cash distribution shows in Fabrinet’s price series over the last three years. In fiscal 2026 the company bought back 5 m USD of its own shares, 172% of that year’s free cash flow. The share count fell 0.0% over the fiscal year. The "Dividends and capital return" block on this page carries the lines.

How does Fabrinet trade when bond yields rise?

Over the past year Fabrinet had a beta of 0.31 to TLT, the long-dated Treasury fund — it shows only a loose link to bond moves, higher than 31% of US names. On the 10 sessions in which long bonds fell most it moved −1.57% on average, against −0.76% for the S&P 500. The "How it trades on rate days" block on this page carries the lines.

What has Wall Street done on Fabrinet recently?

The most recent analyst action on Fabrinet on the Closelook wire is a price target by Barclays on 2026-08-18 (target 739 from 702). 1 action on the analyst wire since 2026-08-13: 1 target change. Analyst actions are third-party opinions recorded by the wire, not Closelook readings. The “The Street on this name” block on this page lists the moves; the full feeds are the analyst wire and the earnings wire.

Where has Closelook written about Fabrinet?

Fabrinet appears in 9 Closelook pieces, most recently Daily Pulse: Decision Time for the Semi Complex (2026-08-25); Daily Pulse: European ETFs — The Voting Machine and the Weighing Machine (2026-08-21); Morning 10: The buyback rally fades and the 30-year pushes back to 5.25%, but crypto answers louder — Bitcoin above 75,000 toward its best week since March 2024, BITW breaks a year-long wedge, and the yen's first falsifier line goes live at 158.83 (2026-08-21). What Closelook said most recently: How the complex got to the line NVDA Mon −2.91% — the only red mega-cap MSFT +0.84% · GOOGL +0.94% · AMZN +1.33% · META +1.66% · AAPL +0.32% DRAM (memory) 54.28 −5.89% COHR 275.49 −4.85% · LITE 830.17 −4.22% · FN 421.14 −3.56% · AMAT… (Daily Pulse, 2026-08-25). The "Mentioned on Closelook" block on this page lists the long reads, the reference entries and the dailies that name it.

What does this page show?

A live price chart with SMA overlays and drawing tools for FN, performance metrics, index-membership context and the Closelook structure read — an investment research diary view, not investment advice.

Mentioned on Closelook 9 pieces · newest: Daily Pulse, “Decision Time for the Semi Complex” (2026-08-25)

Mentioned on Closelook

Where FN appears in the diary — 9 pieces, newest first. Every link is our own writing.

Long reads

101 and glossary

Dailies

Related in the Closelook universe

same Closelook index seat first, then Electronic Components. Scored names rank on their Closelook score; names without one rank on trend state — above or below their 50- and 200-day averages — never on a score they do not carry.