Fabrinet's stock surged 5.68% intraday on Thursday, continuing its recovery from an oversold condition following its recent quarterly earnings release.

The company's latest earnings, released earlier this month, showed record revenue and adjusted earnings per share but fell short of heightened market expectations, initially triggering a sharp decline. The current advance represents a resumption of the market's gradual repricing of the stock after digesting the earnings gap.

Broad strength in the Electronic Manufacturing Services sector provided additional supportive momentum for Fabrinet's rally during the session.