FN soaring 14% today. Here's why:

Shares of Fabrinet (FN) are trading 14% higher at a price of $115.09 at the time of this writing. The stock showed strong performance in the premarket and was outpacing peers in the IT sector during the trading day. The firm reported a strong Q4 earnings beat and optimistic guidance in both EPS and expexted revenue.

Fabrinet has been trading between a 52-week high of $126.28 and a 52-week low of $74.57 and is currently surging forward to the upper end of that range. The stock has a market cap of $4.12 Billion.

Fabrinet is a leading provider of advanced optical packaging and precision optical, electro-mechanical, and electronic manufacturing services to original equipment manufacturers of complex products, such as optical communication components, modules and subsystems, automotive components, medical devices, industrial lasers and sensors. Fabrinet offers a broad range of advanced optical and electro-mechanical capabilities across the entire manufacturing process, including process design and engineering, supply chain management, manufacturing, advanced packaging, integration, final assembly and testing. Fabrinet focuses on production of high complexity products in any mix and any volume.