Fabrinet (FN) 10-Q 5 Nov 24 2025 Q1 Quarterly report Financial data

Cover

Cover - shares	3 Months Ended
	Sep. 27, 2024	Oct. 25, 2024
Cover [Abstract]
Document type	10-Q
Document quarterly report	true
Document period end date	Sep. 27, 2024
Document transition report	false
Entity file number	001-34775
Entity registrant name	FABRINET
Entity incorporation, state or country code	E9
Entity tax identification number	98-1228572
Entity address, address line one	c/o Intertrust Corporate Services
Entity address, address line two	One Nexus Way, Camana Bay
Entity address, city or town	Grand Cayman
Entity address, country	KY
Entity address, postal zip code	KY1-9005
City area code	66 2
Local phone number	524-9600
Title of 12(b) security	Ordinary Shares, $0.01 par value
Trading symbol	FN
Security exchange name	NYSE
Entity current reporting status	Yes
Entity interactive data current	Yes
Entity filer category	Large Accelerated Filer
Entity small business	false
Entity emerging growth company	false
Entity shell company	false
Entity common stock, shares outstanding (in shares)		36,267,888
Current fiscal year end date	--06-27
Amendment flag	false
Document fiscal year focus	2025
Document fiscal period focus	Q1
Entity central index key	0001408710

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) - USD ($) $ in Thousands	Sep. 27, 2024	Jun. 28, 2024
Current assets
Cash and Cash Equivalents, at Carrying Value	$ 400,684	$ 409,973
Short-term investments	508,193	448,630
Trade accounts receivable, net of allowance for expected credit losses of $1,954 and $1,629, respectively	662,692	592,452
Inventories	440,405	463,206
Prepaid expenses	9,426	10,620
Other current assets	87,538	87,810
Total current assets	2,108,938	2,012,691
Non-current assets
Property, plant and equipment, net	311,241	307,240
Intangibles, net	2,201	2,321
Operating right-of-use assets	5,133	5,336
Deferred tax assets	10,902	10,446
Other non-current assets	598	485
Total non-current assets	330,075	325,828
Total Assets	2,439,013	2,338,519
Current liabilities
Trade accounts payable	427,892	441,835
Fixed assets payable	10,166	14,380
Operating lease liabilities, current portion	1,416	1,355
Income tax payable	4,377	3,937
Accrued payroll, bonus and related expenses	26,658	22,116
Accrued expenses	30,519	19,916
Other payables	74,950	54,403
Total current liabilities	575,978	557,942
Non-current liabilities
Deferred tax liability	2,023	4,895
Operating lease liability, non-current portion	3,434	3,635
Severance liabilities	28,053	24,093
Other non-current liabilities	2,925	2,209
Total non-current liabilities	36,435	34,832
Total Liabilities	612,413	592,774
Commitments and contingencies (Note 14)
Shareholders’ equity
Preferred shares ($5,000,000 shares authorized, $0.01 par value; no shares issued and outstanding as of September 27, 2024 and June 28, 2024)	0	0
Ordinary shares ($500,000,000 shares authorized, $0.01 par value; 39,579,859 shares and 39,457,462 shares issued as of September 27, 2024 and June 28, 2024, respectively; and 36,267,639 shares and 36,145,242 shares outstanding as of September 27, 2024 and June 28, 2024, respectively)	396	395
Additional paid-in capital	210,505	222,044
Less: Treasury shares (3,312,220 shares as of September 27, 2024 and June 28, 2024)	(234,323)	(234,323)
Accumulated other comprehensive income (loss)	11,858	(3,141)
Retained earnings	1,838,164	1,760,770
Total Shareholders’ Equity	1,826,600	1,745,745
Total Liabilities and Shareholders’ Equity	$ 2,439,013	$ 2,338,519
Treasury stocks, shares (in shares)	3,312,220	3,312,220

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) (Parenthetical) - USD ($) $ in Thousands	Sep. 27, 2024	Jun. 28, 2024
Statement of Financial Position [Abstract]
Allowance for doubtful accounts	$ 1,954	$ 1,629
Preferred shares, shares authorized (in shares)	5,000,000	5,000,000
Preferred shares, par value (in USD per share)	$ 0.01	$ 0.01
Preferred shares, shares issued (in shares)	0	0
Preferred shares, shares outstanding (in shares)	0	0
Ordinary shares, shares authorized (in shares)	500,000,000	500,000,000
Ordinary shares, par value (in USD per share)	$ 0.01	$ 0.01
Ordinary shares, shares issued (in shares)	39,579,859	39,457,462
Ordinary shares, shares outstanding (in shares)	36,267,639	36,145,242
Treasury stocks, shares (in shares)	3,312,220	3,312,220

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Sep. 27, 2024	Sep. 29, 2023
Income Statement [Abstract]
Revenues	$ 804,228	$ 685,477
Cost of revenues	(705,202)	(601,073)
Gross profit	99,026	84,404
Selling, general and administrative expenses	(22,031)	(20,429)
Restructuring and other related costs	(57)	0
Operating income	76,938	63,975
Interest income	10,933	5,898
Interest expense	0	(45)
Foreign exchange gain (loss), net	(7,095)	415
Other income (expense), net	(19)	(80)
Income before income taxes	80,757	70,163
Income tax expense	(3,363)	(5,074)
Net income	77,394	65,089
Other comprehensive income (loss), net of tax:
Change in net unrealized gain (loss) on available-for-sale securities	6,818	948
Change in net unrealized gain (loss) on derivative instruments	8,533	(561)
Change in net retirement benefits plan – prior service cost	0	126
Change in foreign currency translation adjustment	(352)	100
Total other comprehensive income (loss), net of tax	14,999	613
Net comprehensive income	$ 92,393	$ 65,702
Earnings per share
Basic (in USD per share)	$ 2.14	$ 1.80
Diluted (in USD per share)	$ 2.13	$ 1.78
Weighted-average number of ordinary shares outstanding (in thousands of shares)
Basic (in shares)	36,203	36,256
Diluted (in shares)	36,408	36,481

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (unaudited) - USD ($) $ in Thousands	Total	Ordinary Share	Additional Paid-in Capital	Treasury Shares	Accumulated Other Comprehensive Income (Loss)	Retained Earnings
Beginning balance (in shares) at Jun. 30, 2023		39,284,176
Beginning balance at Jun. 30, 2023	$ 1,468,658	$ 393	$ 206,624	$ (194,833)	$ (8,115)	$ 1,464,589
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	65,089					65,089
Other comprehensive income (loss)	613				613
Share-based compensation	7,956		7,956
Issuance of ordinary shares (in shares)		146,794
Issuance of ordinary shares	0	$ 1	(1)
Tax withholdings related to net share settlement of restricted share units	(12,147)		(12,147)
Ending balance (in shares) at Sep. 29, 2023		39,430,970
Ending balance at Sep. 29, 2023	1,530,169	$ 394	202,432	(194,833)	(7,502)	1,529,678
Beginning balance (in shares) at Jun. 28, 2024		39,457,462
Beginning balance at Jun. 28, 2024	1,745,745	$ 395	222,044	(234,323)	(3,141)	1,760,770
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	77,394					77,394
Other comprehensive income (loss)	14,999				14,999
Share-based compensation	8,682		8,682
Issuance of ordinary shares (in shares)		122,397
Issuance of ordinary shares	0	$ 1	(1)
Tax withholdings related to net share settlement of restricted share units	(20,220)		(20,220)
Ending balance (in shares) at Sep. 27, 2024		39,579,859
Ending balance at Sep. 27, 2024	$ 1,826,600	$ 396	$ 210,505	$ (234,323)	$ 11,858	$ 1,838,164

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($) $ in Thousands	3 Months Ended
	Sep. 27, 2024	Sep. 29, 2023
Cash flows from operating activities
Net income for the period	$ 77,394	$ 65,089
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation and amortization	12,752	11,961
(Gain) loss on disposal of property, plant and equipment and intangibles	10	12
Amortization of discount (premium) of short-term investments	(1,087)	(596)
(Reversal of) allowance for expected credit losses	325	803
Unrealized loss (gain) on exchange rate and fair value of foreign currency forward contracts	6,204	(52)
Amortization of fair value at hedge inception of interest rate swaps	0	(88)
Share-based compensation	8,682	7,733
Deferred income tax expense (benefit)	(2,721)	1,377
Other non-cash expenses	9	222
Changes in operating assets and liabilities
Trade accounts receivable	(69,396)	(4,138)
Inventories	22,801	79,481
Other current assets and non-current assets	1,205	3,238
Trade accounts payable	(17,412)	(24,397)
Income tax payable	467	963
Accrued expenses	21,902	2,668
Other payables	18,236	543
Severance liabilities	639	706
Other current liabilities and non-current liabilities	3,172	(476)
Net cash provided by operating activities	83,182	145,049
Cash flows from investing activities
Purchase of short-term investments	(95,572)	(77,692)
Proceeds from maturities of short-term investments	43,914	35,909
Purchase of property, plant and equipment	(20,250)	(11,435)
Purchase of intangibles	(122)	(180)
Proceeds from disposal of property, plant and equipment	36	318
Net cash used in investing activities	(71,994)	(53,080)
Cash flows from financing activities
Repayment of long-term borrowings	0	(3,047)
Withholding tax related to net share settlement of restricted share units	(20,220)	(12,147)
Net cash used in financing activities	(20,220)	(15,194)
Net increase (decrease) in cash and cash equivalents	(9,032)	76,775
Movement in cash and cash equivalents
Cash and cash equivalents at the beginning of period	409,973	231,368
Increase (decrease) in cash and cash equivalents	(9,032)	76,775
Effect of exchange rate on cash and cash equivalents	(257)	195
Cash and cash equivalents at the end of period	400,684	308,338
Non-cash investing and financing activities
Construction, software and equipment-related payables	$ 10,166	$ 9,313

Business and organization

Business and organization	3 Months Ended
	Sep. 27, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Business and organization	Business and organization General Fabrinet (“Fabrinet” or the “Parent Company”) was incorporated on August 12, 1999, and commenced operations on January 1, 2000. The Parent Company is an exempted company incorporated in the Cayman Islands, British West Indies. The “Company” refers to Fabrinet and its subsidiaries as a group. The Company provides 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 sub-systems, automotive components, industrial lasers, medical devices and sensors. The Company 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, complex printed circuit board assembly, advanced packaging, integration, final assembly and testing. The Company is capable of producing a wide variety of high complexity products in any mix and any volume. The principal subsidiaries of Fabrinet include Fabrinet Co., Ltd. (“Fabrinet Thailand”), Casix, Inc. (“Casix”), Fabrinet West, Inc. (“Fabrinet West”) and Fabrinet Israel Ltd. (“Fabrinet Israel”).

Accounting policies

Accounting policies	3 Months Ended
	Sep. 27, 2024
Accounting Policies [Abstract]
Accounting policies	Accounting policies Basis of presentation The accompanying unaudited condensed consolidated financial statements for Fabrinet as of September 27, 2024 and for the three months ended September 27, 2024 and September 29, 2023 include normal recurring adjustments necessary for a fair statement of the financial statements set forth herein, in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP” or "GAAP") for interim financial information and the rules and regulations of the Securities and Exchange Commission (“SEC”). Accordingly, such information does not include all of the information and footnotes required by U.S. GAAP for annual financial statements. For further information, please refer to the consolidated financial statements and footnotes thereto included in Fabrinet’s Annual Report on Form 10-K for the year ended June 28, 2024. The balance sheet as of June 28, 2024 has been derived from the audited financial statements at that date but does not include all of the information and footnotes required by U.S. GAAP for complete financial statements. The results for the three months ended September 27, 2024 may not be indicative of results for the year ending June 27, 2025 or any future periods. Use of Estimates The preparation of the Company’s unaudited condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent liabilities at the date of the financial statements and the reported amount of total revenues and expenses during the year. The Company bases estimates on historical experience and various assumptions about the future that are believed to be reasonable based on available information. The Company’s reported financial position or results of operations may be materially different under different conditions or when using different estimates and assumptions, particularly with respect to significant accounting policies, which are discussed below. Significant assumptions are used in accounting for share-based compensation, allowance for expected credit losses, income taxes, and inventory obsolescence. Due to the inherent uncertainty involved in making estimates, actual results reported in future periods may be different from these estimates. In the event that the Company's estimates or assumptions prove to be different from actual results, adjustments will be made in subsequent periods to reflect more current information. Fiscal years The Company utilizes a 52-53 week fiscal year ending on the Friday in June closest to June 30. The three months ended September 27, 2024 and September 29, 2023 consisted of 13 weeks. Fiscal year 2025 will comprise 52 weeks and will end on June 27, 2025. Adoption of New Accounting Standards No new accounting standard was adopted during the three months ended September 27, 2024. New Accounting Standards—not yet adopted by the Company In November 2023, the Financial Accounting Standards Board ("FASB") issued ASU 2023-07, “Segment Reporting (Topic 280), Improvements to Reportable Segment Disclosures,” which is intended to improve reportable segment disclosure requirements, primarily through additional disclosures about significant segment expenses. This ASU is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, with early adoption permitted. This ASU is effective for the Company's annual periods beginning June 29, 2024, and interim periods beginning June 28, 2025, and will be applied retrospectively to all prior periods presented in the financial statements. The Company is currently evaluating the ASU to determine its impact on the Company's disclosures.

Revenues from contracts with cu

Revenues from contracts with customers	3 Months Ended
	Sep. 27, 2024
Revenue from Contract with Customer [Abstract]
Revenues from contracts with customers	Revenues from contracts with customers Revenue by Geographic Area, End Market and Product Category Revenues are attributed to a particular geographic area based on the bill-to-location of the Company’s customers. The Company operates in three geographic regions: North America; Asia-Pacific and others; and Europe. The following table presents total revenues by geographic region: (in thousands, except percentages) Three Months Ended As a % of Total Three Months Ended As a % of Total North America U.S. $ 307,820 $ 254,859 Others (1) 1,658 3,460 Total revenue in North America 309,478 38.5 % 258,319 37.7 % Asia-Pacific and others Israel 290,953 210,676 India 76,830 70,777 Hong Kong 18,547 15,788 China 11,872 20,260 Thailand 11,121 13,027 Singapore 10,763 683 Malaysia 7,498 33,319 Others 9,054 7,292 Total revenue in Asia-Pacific and others 436,638 54.3 % 371,822 54.2 % Europe U.K. 32,450 29,774 Germany 9,344 12,780 Others 16,318 12,782 Total revenue in Europe $ 58,112 7.2 % $ 55,336 8.1 % Total revenue $ 804,228 100.0 % $ 685,477 100.0 % (1) Others includes revenues from external customers based in our country of domicile, the Cayman Islands, which for each year presented is $0. The following table presents revenues by end market and product category: (in thousands, except percentages) Three Months Ended As a % of Total Three Months Ended As a % of Total Optical communications Datacom $ 328,881 $ 242,043 Telecom 297,434 291,214 Total revenue - Optical communications $ 626,315 77.9 % $ 533,257 77.8 % Non-optical communications Automotive $ 102,741 $ 88,358 Industrial laser 35,326 29,915 Others 39,846 33,947 Total revenue - Non-optical communications $ 177,913 22.1 % $ 152,220 22.2 % Total revenue $ 804,228 100.0 % $ 685,477 100.0 % Contract Assets and Liabilities A contract asset is recognized when the Company has recognized revenues, but has not yet issued an invoice to its customer for payment. Contract assets are recognized in the unaudited condensed consolidated balance sheets under other current assets and transferred to accounts receivable when rights to payment become unconditional. As of September 27, 2024 and June 28, 2024, the Company's contract assets were de minimis. A contract liability is recognized when the Company has advance payment arrangements with customers. Contract liabilities are recognized in the unaudited condensed consolidated balance sheets under other payables. The contract liabilities balance is normally recognized as revenue within six months. The following tables summarize the activity in the Company’s contract liabilities during the three months ended September 27, 2024: (in thousands) Contract Beginning balance, June 28, 2024 $ 7,846 Advance payments received during the period 2,627 Revenue recognized (1,550) Ending balance, September 27, 2024 $ 8,923

Earnings per ordinary share

Earnings per ordinary share	3 Months Ended
	Sep. 27, 2024
Earnings Per Share [Abstract]
Earnings per ordinary share	Earnings per ordinary share Basic earnings per ordinary share is computed by dividing reported net income by the weighted-average number of ordinary shares outstanding during each period. Diluted earnings per ordinary share is computed by calculating the effect of potential dilutive ordinary shares outstanding during the period using the treasury stock method. Dilutive ordinary equivalent shares consist of restricted share units and performance share units. Earnings per ordinary share was calculated as follows: Three Months Ended (in thousands, except per share data) September 27, September 29, Net income attributable to shareholders $ 77,394 $ 65,089 Weighted-average number of ordinary shares outstanding 36,203 36,256 Incremental shares arising from the assumed vesting of restricted share units and performance share units 205 225 Weighted-average number of ordinary shares for diluted earnings per ordinary share 36,408 36,481 Basic earnings per ordinary share $ 2.14 $ 1.80 Diluted earnings per ordinary share $ 2.13 $ 1.78

Cash, cash equivalents and shor

Cash, cash equivalents and short-term investments	3 Months Ended
	Sep. 27, 2024
Cash and Cash Equivalents [Abstract]
Cash, cash equivalents and short-term investments	Cash, cash equivalents and short-term investments The Company’s cash, cash equivalents, and short-term investments are as follows: Fair Value (in thousands) Carrying Unrealized Cash and Marketable Other As of September 27, 2024 Cash $ 400,236 $ — $ 400,236 $ — $ — Cash equivalents 448 — 448 — — Certificates of deposit and time deposits 144,527 1,193 — 145,720 — Corporate debt securities 144,356 2,767 — 147,123 — U.S. agency and U.S. treasury securities 213,669 1,681 — 215,350 — Total $ 903,236 $ 5,641 $ 400,684 $ 508,193 $ — As of June 28, 2024 Cash $ 409,938 $ — $ 409,938 $ — $ — Cash equivalents 35 — 35 — — Certificates of deposit and time deposits 134,288 (5) — 134,283 — Corporate debt securities 137,695 (932) — 136,763 — U.S. agency and U.S. treasury securities 177,824 (240) — 177,584 — Total $ 859,780 $ (1,177) $ 409,973 $ 448,630 $ — All highly liquid investments with original maturities of three months or less at the date of purchase are classified as cash equivalents. Management determines the appropriate classification of its investments at the time of purchase and reevaluates the designations at each balance sheet date. The Company may sell certain of its short-term investments prior to their stated maturities for strategic reasons including, but not limited to, anticipation of credit deterioration and duration management. The maturities of the Company’s short-term investments generally range from three months to three years. The following table summarizes the cost and estimated fair value of short-term investments classified as available-for-sale securities based on stated effective maturities as of September 27, 2024 and June 28, 2024: September 27, 2024 June 28, 2024 (in thousands) Carrying Fair Value Carrying Fair Value Due within one year $ 112,061 $ 113,287 $ 110,671 $ 110,669 Due between one to five years 390,491 394,906 339,136 337,961 Total $ 502,552 $ 508,193 $ 449,807 $ 448,630

Fair value of financial instrum

Fair value of financial instruments	3 Months Ended
	Sep. 27, 2024
Fair Value Disclosures [Abstract]
Fair value of financial instruments	Fair value of financial instruments Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. A fair value hierarchy is established, which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs for the valuation of an asset or liability as of the measurement date. The three levels of inputs that may be used to measure fair value are defined as follows: Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities. Level 2 inputs are inputs other than quoted prices included within Level 1 that are observable for assets or liabilities, either directly or indirectly. If the assets or liabilities have a specified (contractual) term, Level 2 inputs must be observable for substantially the full term of assets or liabilities. Level 3 inputs are unobservable inputs for assets or liabilities, which require the reporting entity to develop its own valuation techniques and assumptions. The Company utilizes the market approach to measure fair value for its financial assets and liabilities. The market approach uses prices and other relevant information generated by market transactions involving identical or comparable assets or liabilities. The following table provides details of the financial instruments measured at fair value on a recurring basis, including: Fair Value Measurements at Reporting Date Using (in thousands) Level 1 Level 2 Level 3 Total As of September 27, 2024 Assets Cash equivalents $ — $ 448 $ — $ 448 Certificates of deposit and time deposits — 145,720 — 145,720 Corporate debt securities — 147,123 — 147,123 U.S. agency and U.S. treasury securities — 215,350 — 215,350 Derivative assets – current portion — 11,023 (1) — 11,023 Total $ — $ 519,664 $ — $ 519,664 Liabilities Derivative liabilities – current portion $ — $ (1) $ — $ (1) Total $ — $ (1) (2) $ — $ (1) Fair Value Measurements at Reporting Date Using (in thousands) Level 1 Level 2 Level 3 Total As of June 28, 2024 Assets Cash equivalents $ — $ 35 $ — $ 35 Certificates of deposit and time deposits — 134,283 — 134,283 Corporate debt securities — 136,763 — 136,763 U.S. agency and U.S. treasury securities — 177,584 — 177,584 Derivative assets – current portion — 15 (3) — 15 Total $ — $ 448,680 $ — $ 448,680 Liabilities Derivative liabilities – current portion $ — $ (2,244) $ — $ (2,244) Total $ — $ (2,244) (4) $ — $ (2,244) (1) Foreign currency forward contracts with an aggregate notional amount of $129.0 million and 0.4 million Canadian dollars. (2) Foreign currency forward contract with a notional amount of $1.0 million. (3) Foreign currency forward contracts with an aggregate notional amount of $8.0 million. (4) Foreign currency forward contracts with an aggregate notional amount of $127.0 million and 0.4 million Canadian dollars. Derivative Financial Instruments The Company utilizes derivative financial instruments to hedge (i) foreign exchange risk associated with certain foreign currency denominated assets and liabilities and other foreign currency transactions, and (ii) interest rate risk associated with its long-term debt. The Company minimizes the credit risk associated with its derivative instruments by limiting the exposure to any single counterparty and by entering into derivative instruments only with counterparties that meet the Company’s minimum credit quality standard. Foreign currency forward and option contracts As a result of foreign currency rate fluctuations, the U.S. dollar equivalent values of the Company’s foreign currency denominated assets and liabilities fluctuate. The Company uses foreign currency forward and option contracts to manage the foreign exchange risk associated with a portion of its foreign currency denominated assets and liabilities and other foreign currency transactions. The Company enters into foreign currency forward and option contracts to hedge fluctuations in the U.S. dollar value of forecasted transactions denominated in Thai baht and Canadian dollars with counterparties that meet the Company’s minimum credit quality standard. The Company may enter into foreign currency forward contracts with maturities of up to 12 months to hedge fluctuations in the U.S. dollar value of forecasted transactions denominated in Thai baht, including inventory purchases, payroll and other operating expenses. The Company considers these forward contracts as dual-purpose hedges, that hedge both the foreign exchange fluctuation (i) from inception through the forecasted expenditure, and (ii) any subsequent revaluation of the account payable or accrual. The Company may designate the forward contracts that hedge the foreign exchange fluctuation from inception through the forecasted expenditure as cash flow hedges. The gain or loss on a derivative instrument designated and qualified as a cash flow hedging instrument is recorded as a component of other comprehensive income and reclassified into earnings in the same period or periods during which the hedged forecasted transaction affects earnings. The reclassified amounts are presented in the same income statement line item as the earnings effect of the hedged item. Once the forecasted transactions are recorded, the Company will discontinue the hedging relationship by de-designating the derivative instrument and recording subsequent changes in fair value through contract maturity to foreign exchange gain (loss), net in the unaudited condensed consolidated statements of operations and comprehensive income as a natural hedge against the Thai baht denominated assets and liabilities. The Company may also enter into non-designated foreign currency forward and option contracts to provide an offset to the re-measurement of foreign currency denominated assets and liabilities and to hedge certain forecasted exposures. Changes in the fair value of these non-designated derivatives are recorded as foreign exchange gain (loss), net in the unaudited condensed consolidated statements of operations and comprehensive income. As of September 27, 2024, the Company had 130 outstanding U.S. dollar foreign currency forward contracts against Thai baht, with an aggregate notional amount of $130.0 million and maturity dates ranging from October 2024 through April 2025 and one outstanding Canadian dollar foreign currency forward contract with a notional amount of 0.4 million Canadian dollars and a maturity date in December 2024. As of June 28, 2024, the Company had 135 outstanding U.S. dollar foreign currency forward contracts against Thai baht with an aggregate notional amount of $135.0 million and maturity dates ranging from July 2024 through January 2025, and one foreign currency contract with a notional amount of 0.4 million Canadian dollars and a maturity date in September 2024. As of September 27, 2024, the hedging relationship over foreign currency forward contracts designated for hedge accounting was determined to be highly effective based on the performance of retrospective and prospective regression testing. As of September 27, 2024, the amount in accumulated other comprehensive income (“AOCI”) expected to be reclassified into earnings within 12 months was a gain of $7.7 million. As of June 28, 2024, the hedging relationship over foreign currency forward contracts designated for hedge accounting had been tested to be highly effective based on the performance of retrospective and prospective regression testing. As of June 28, 2024, the amount in AOCI expected to be reclassified into earnings within 12 months as loss was $1.2 million. During the three months ended September 27, 2024 and September 29, 2023, the Company included unrealized gain of $4.1 million and $0.3 million, respectively, from changes in the fair value of a foreign currency forward contract that was not designated for hedge accounting in earnings as foreign exchange gain (loss), net in the unaudited condensed consolidated statements of operations and comprehensive income. The following table provides a summary of the impact of derivative gain (loss) of the Company’s foreign currency forward contracts and interest rate swaps which were designated as cash flow hedges on the unaudited condensed consolidated statements of operations and other comprehensive income: Three Months Ended (in thousands) Financial September 27, September 29, Derivatives gain (loss) recognized in other comprehensive income (loss): Foreign currency forward contracts Other $ 13,246 $ (1,565) Interest rate swaps Other — (78) Total derivatives gain (loss) recognized in other comprehensive income (loss) $ 13,246 $ (1,643) Derivatives (gain) loss reclassified from accumulated other comprehensive income (loss) into earnings: Foreign currency forward contracts Cost of revenues $ 1,419 $ 3,672 Foreign currency forward contracts SG&A 106 155 Foreign currency forward contracts Foreign exchange loss, net (5,909) (3,215) Interest rate swaps Interest expense — (89) Total derivatives (gain) loss reclassified from accumulated other comprehensive income (loss) into earnings $ (4,384) $ 523 Change in net unrealized gain (loss) on derivatives instruments $ 8,862 $ (1,120) Fair Value of derivatives The following table provides the fair values of the Company’s derivative financial instruments for the periods presented: September 27, June 28, (in thousands) Derivative Derivative Derivative Derivative Derivatives not designated as hedging instruments Foreign currency forward and option contracts $ 3,318 $ — $ — $ (1,088) Derivatives designated as hedging instruments Foreign currency forward contracts 7,705 (1) 15 (1,156) Derivatives, gross balances $ 11,023 $ (1) $ 15 $ (2,244) The Company recorded the fair value of derivative financial instruments in the unaudited condensed consolidated balance sheets as follows: Derivative Financial Instruments Balance Sheet line item Fair Value of Derivative Assets Other current assets, Other non-current assets Fair Value of Derivative Liabilities Accrued expenses, Other non-current liabilities

Inventories

Inventories	3 Months Ended
	Sep. 27, 2024
Inventory Disclosure [Abstract]
Inventories	Inventories (in thousands) As of September 27, As of June 28, Raw materials $ 98,608 $ 139,063 Work in progress 276,777 266,112 Finished goods 41,433 39,121 Goods in transit 23,587 18,910 Total inventories $ 440,405 $ 463,206

Leases

Leases	3 Months Ended
	Sep. 27, 2024
Leases [Abstract]
Leases	Leases The Company leases facilities under non-cancelable operating lease agreements. The Company leases a portion of its capital equipment and vehicles, certain land and buildings for its facilities in Thailand, the Cayman Islands, the PRC, the U.S., Israel and Singapore under operating lease arrangements that expire at various dates through 2034. Certain of these lease arrangements provide the Company the ability to extend the lease term following the expiration of the current term. However, the Company has excluded all lease extension options from its right of use (“ROU”) assets and lease liabilities as the Company is not reasonably assured that it will exercise these options. None of the lease agreements contain residual value guarantees provided by the lessee. The Company also has one intercompany lease transaction in the form of a lease of office and manufacturing space. Operating leases As of September 27, 2024, the maturities of the Company’s operating lease liabilities were as follows: (in thousands) 2025 (remaining nine months) $ 1,266 2026 1,651 2027 814 2028 363 2029 330 Thereafter 1,305 Total undiscounted lease payments 5,729 Less imputed interest (879) Total present value of lease liabilities $ 4,850 (1) (1) Includes current portion of operating lease liabilities of $1.4 million. Rental expense related to the Company’s operating leases is recognized on a straight-line basis over the lease term. Rental expense for long-term leases for the three months ended September 27, 2024 and September 29, 2023 was $0.5 million, for both periods. Rental expense for short-term leases for the three months ended September 27, 2024 and September 29, 2023 was de minimis, and $0.4 million, respectively. The following summarizes additional information related to the Company’s operating leases: As of September 27, 2024 As of June 28, 2024 Weighted-average remaining lease term (in years) 5.5 5.6 Weighted-average discount rate 5.6 % 5.6 % The following table presents supplemental disclosure for the unaudited condensed consolidated statements of cash flows related to operating and finance leases for the three months ended September 27, 2024 and September 29, 2023: Three Months Ended (in thousands) September 27, September 29, Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from operating leases $ 745 $ 959 ROU assets obtained in exchange for lease liabilities $ 159 $ 4,936

Intangibles

Intangibles	3 Months Ended
	Sep. 27, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Intangibles	Intangibles The following tables present details of the Company’s intangibles: (in thousands) Gross Accumulated Net As of September 27, 2024 Software $ 11,532 $ (9,331) $ 2,201 (in thousands) Gross Accumulated Net As of June 28, 2024 Software $ 11,398 $ (9,077) $ 2,321 The Company recorded amortization expense relating to intangibles of $0.3 million and $0.2 million for the three months ended September 27, 2024 and September 29, 2023, respectively. The weighted-average remaining life of software was: (years) As of September 27, 2024 As of June 28, 2024 Software 1.8 2.1 Based on the carrying amount of intangibles as of September 27, 2024, and assuming no future impairment of the underlying assets, the estimated future amortization during each fiscal year was as follows: (in thousands) 2025 (remaining nine months) $ 652 2026 673 2027 472 2028 300 2029 100 Thereafter 4 Total $ 2,201

Income taxes

Income taxes	3 Months Ended
	Sep. 27, 2024
Income Tax Disclosure [Abstract]
Income taxes	Income taxes As of September 27, 2024 and June 28, 2024, the liability for uncertain tax positions including accrued interest and penalties was $2.0 million and $1.3 million, respectively. The Company expects the estimated amount of liability associated with its uncertain tax positions to increase within the next 12 months due to additional provisions associated with uncertain tax positions from one of the Company's subsidiaries and interest on these positions. The Company files income tax returns in the United States and foreign tax jurisdictions. The tax years from 2017 to 2023 remain open to examination by U.S. federal and state, and foreign tax authorities. The Company’s income tax is recognized based on the best estimate of the expected annual effective tax rate for the full financial year of each entity in the Company, adjusted for discrete items arising in that quarter. If the Company’s estimated annual effective tax rate changes, the Company makes a cumulative adjustment in that quarter. The effective tax rate for the Company for the three months ended September 27, 2024 and September 29, 2023 was 4.2% and 7.2%, respectively, of net income. The decrease was due to a full valuation allowance of $2.1 million for deferred tax assets that was set up during the three months ended September 29, 2023 for the Company's subsidiary in Israel.

Share-based compensation

Share-based compensation	3 Months Ended
	Sep. 27, 2024
Share-Based Payment Arrangement [Abstract]
Share-based compensation	Share-based compensation Share-based compensation The grant date fair value of restricted share units and performance share units is based on the market value of Fabrinet's ordinary shares on the date of grant. The effect of recording share-based compensation expense for the three months ended September 27, 2024 and September 29, 2023 was as follows: Three Months Ended (in thousands) September 27, September 29, Share-based compensation expense by type of award: Restricted share units $ 5,713 $ 4,879 Performance share units 2,969 2,854 Total share-based compensation expense 8,682 7,733 Tax effect on share-based compensation expense — — Net effect on share-based compensation expense $ 8,682 $ 7,733 Share-based compensation expense was recorded in the unaudited condensed consolidated statements of operations and comprehensive income as follows: Three Months Ended (in thousands) September 27, September 29, Cost of revenue $ 2,898 $ 2,165 Selling, general and administrative expense 5,784 5,568 Total share-based compensation expense $ 8,682 $ 7,733 The Company did not capitalize any share-based compensation expense as part of any asset costs during the three months ended September 27, 2024 and September 29, 2023. Share-based award activity On December 12, 2019, the Company’s shareholders approved Fabrinet’s 2020 Equity Incentive Plan (the “2020 Plan”). Upon the approval of the 2020 Plan, Fabrinet’s Amended and Restated 2010 Performance Incentive Plan (the “2010 Plan”) was simultaneously terminated. The 2020 Plan provides for the grant of equity awards thereunder with respect to (i) 1,700,000 ordinary shares, plus (ii) up to 1,300,000 ordinary shares that, as of immediately prior to the termination of the 2010 Plan, had been reserved but not issued pursuant to any awards granted under the 2010 Plan and are not subject to any awards thereunder. Upon termination of the 2010 Plan, 1,281,619 ordinary shares were reserved for issuance under the 2020 Plan pursuant to clause (ii) of the preceding sentence. On November 2, 2017, the Company adopted the 2017 Inducement Equity Incentive Plan (the “2017 Inducement Plan”) with a reserve of 160,000 ordinary shares authorized for future issuance solely for the granting of inducement share options and equity awards to new employees. The 2017 Inducement Plan was adopted without shareholder approval in reliance on the “employment inducement exemption” provided under the New York Stock Exchange Listed Company Manual. The 2020 Plan, 2010 Plan and 2017 Inducement Plan are collectively referred to as the “Equity Incentive Plans.” The following table summarizes the number of equity awards outstanding and ordinary shares available for grant under each of the Equity Incentive Plans as of September 27, 2024: (share units) Restricted Share Units outstanding Performance Share Units outstanding Ordinary Shares available for future grant 2020 Plan 280,753 120,916 1,607,040 2017 Inducement Plan — — 111,347 Total 280,753 120,916 1,718,387 Restricted share units and performance share units Restricted share units and performance share units have been granted under the Equity Incentive Plans. Restricted share units granted to employees generally vest in equal installments over three Performance share units granted to executives will vest, if at all, at the end of a two-year performance period based on the Company’s achievement of pre-defined performance criteria, which consist of revenue and non-GAAP operating margin targets. The actual number of performance share units that may vest at the end of the performance period ranges from 0% to 100% of the award grant. The following table summarizes restricted share unit activity under the Equity Incentive Plans: Number Weighted- Balance as of June 28, 2024 306,660 $ 129.01 Granted 92,048 $ 261.84 Vested (113,262) $ 112.98 Forfeited (4,693) $ 138.88 Balance as of September 27, 2024 280,753 $ 178.86 Number Weighted- Balance as of June 30, 2023 368,765 $ 97.49 Granted 95,393 $ 158.91 Vested (139,438) $ 85.02 Forfeited (4,709) $ 108.19 Balance as of September 29, 2023 320,011 $ 121.07 The following table summarizes performance share unit activity under the Equity Incentive Plans: Number Weighted- Balance as of June 28, 2024 171,078 $ 135.31 Granted 46,980 $ 261.84 Vested (97,142) $ 117.35 Forfeited — $ — Balance as of September 27, 2024 120,916 $ 198.90 Number Weighted- Balance as of June 30, 2023 204,016 $ 108.81 Granted 73,936 $ 158.91 Vested (106,874) 101.05 Forfeited — $ — Balance as of September 29, 2023 171,078 $ 135.31 As of September 27, 2024, there was $29.5 million and $16.2 million of unrecognized share-based compensation expense related to restricted share units and performance share units, respectively, under the Equity Incentive Plans that is expected to be recorded over a weighted-average period of 3.0 and 1.5 years, respectively. For the three months ended September 27, 2024 and September 29, 2023, the Company withheld an aggregate of 88,007 shares and 99,518 shares, respectively, upon the vesting of restricted share units and performance shares units, based upon the closing share price on the vesting date to settle employee tax withholding obligations. For the three months ended September 27, 2024 and September 29, 2023, the Company then remitted cash of $20.2 million and $12.1 million, respectively, to the appropriate taxing authorities and presented it as a financing activity within the unaudited condensed consolidated statements of cash flows. The payment was recorded as a reduction of additional paid-in capital.

Shareholders' equity

Shareholders' equity	3 Months Ended
	Sep. 27, 2024
Equity [Abstract]
Shareholders' equity	Shareholders’ equity Share capital Fabrinet’s authorized share capital is 500,000,000 ordinary shares, par value of $0.01 per ordinary share, and 5,000,000 preferred shares, par value of $0.01 per preferred share. For the three months ended September 27, 2024, Fabrinet issued 122,397 ordinary shares upon the vesting of restricted share units and performance share units under the Equity Incentive Plans, net of shares withheld. For the three months ended September 29, 2023, Fabrinet issued 146,794 ordinary shares upon the vesting of restricted share units and performance share units under the Equity Incentive Plans, net of shares withheld. All such issued shares are fully paid. Treasury shares In August 2017, the Company’s board of directors approved a share repurchase program to permit the Company to repurchase up to $30.0 million worth of its issued and outstanding ordinary shares in the open market in accordance with applicable rules and regulations. In February 2018, May 2019, August 2020, August 2022, August 2023, and August 2024, the Company’s board of directors approved an increase of $30.0 million, $50.0 million, $58.5 million, $78.7 million, $47.6 million, and $139.5 million, respectively, to the original share repurchase authorization, bringing the aggregate authorization to $434.3 million. During the three months ended September 27, 2024, the Company did not repurchase any shares. As of September 27, 2024, the Company had a remaining authorization to repurchase up to $200.0 million worth of its ordinary shares under the share repurchase program. Shares repurchased under the share repurchase program are held as treasury shares.

Accumulated other comprehensive

Accumulated other comprehensive income (loss)	3 Months Ended
	Sep. 27, 2024
Equity [Abstract]
Accumulated other comprehensive income (loss)	Accumulated other comprehensive income (loss) The changes in AOCI for the three months ended September 27, 2024 and September 29, 2023 were as follows: (in thousands) Unrealized net Unrealized net Foreign Total Balance as of June 28, 2024 $ (1,179) $ (980) $ (982) $ (3,141) Other comprehensive income (loss) before reclassification 6,818 13,246 (352) 19,712 Amounts reclassified out of AOCI to the unaudited condensed consolidated statements of operations and comprehensive income — (4,384) — (4,384) Tax effects — (329) — (329) Other comprehensive income (loss) $ 6,818 $ 8,533 $ (352) $ 14,999 Balance as of September 27, 2024 $ 5,639 $ 7,553 $ (1,334) $ 11,858 (in thousands) Unrealized net Unrealized net Retirement Foreign Total Balance as of June 30, 2023 $ (3,279) $ (3,541) $ (330) $ (965) $ (8,115) Other comprehensive income (loss) before reclassification 948 (1,643) — 100 (595) Amounts reclassified out of AOCI to the unaudited condensed consolidated statements of operations and comprehensive income — 523 90 — 613 Tax effects — 559 36 — 595 Other comprehensive income (loss) $ 948 $ (561) $ 126 $ 100 $ 613 Balance as of September 29, 2023 $ (2,331) $ (4,102) $ (204) $ (865) $ (7,502)

Commitments and contingencies

Commitments and contingencies	3 Months Ended
	Sep. 27, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and contingencies	Commitments and contingencies Bank guarantees As of September 27, 2024 and June 28, 2024, there were outstanding bank guarantees on behalf of the Company's subsidiary in Thailand for electricity usage and other normal business expenses totaling $2.3 million and $2.0 million, respectively, or Thai baht 75.7 million and 73.2 million, respectively. In addition, there were other immaterial bank guarantees on behalf of the Company's subsidiary in Israel to support the subsidiary's operations related to the Israeli Customs department. Purchase obligations Purchase obligations represent legally binding commitments to purchase inventory and other commitments made in the normal course of business to meet operational requirements. Although open purchase orders are considered enforceable and legally binding, their terms generally give the Company the option to cancel, reschedule and/or adjust its requirements based on its business needs prior to the delivery of goods or performance of services. Obligations to purchase inventory and other commitments are generally expected to be fulfilled within one year. As of September 27, 2024, the Company had purchase obligations and other commitments to third parties of $1.11 billion. Capital expenditures As of September 27, 2024, the Company had total capital expenditure commitments to third parties of $21.3 million. Indemnification of directors and officers Cayman Islands law does not limit the extent to which a company’s memorandum and articles of association may provide for indemnification of directors and officers, except to the extent any such provision may be held by the Cayman Islands courts to be contrary to public policy, such as to provide indemnification against civil fraud or the consequences of committing a crime. Fabrinet’s amended and restated memorandum and articles of association provide for indemnification of directors and officers for actions, costs, charges, losses, damages and expenses incurred in their capacities as such, except that such indemnification does not extend to any matter in respect of any fraud or dishonesty that may attach to any of them. In accordance with Fabrinet’s form of indemnification agreement for its directors and officers, Fabrinet has agreed to indemnify its directors and officers against certain liabilities and expenses incurred by such persons in connection with claims by reason of their being such a director or officer. Fabrinet maintains a director and officer liability insurance policy that may enable it to recover a portion of any future amounts paid under the indemnification agreements. Credit facility agreement On March 9, 2023, Fabrinet Thailand and the Parent Company (collectively, the “Borrowers”) and the Bank of Ayudhya Public Company Limited (the "Bank") entered into a credit facility agreement (the “2023 Credit Facility Agreement”), which provided a facility of $55.0 million. During the three months ended September 27, 2024, the Borrowers and the Bank agreed to amend the 2023 Credit Facility Agreement to reduce the facility to $30.0 million, which may be used for, among other things, an overdraft facility. The Company expects to finalize the amendment to the 2023 Credit Facility Agreement during the three months ending December 27, 2024. As of September 27, 2024, there was no amount outstanding under the 2023 Credit Facility Agreement. Under the 2023 Credit Facility Agreement, the Borrowers are required to maintain a debt-to-equity ratio of less than or equal to 1.5 times for Fabrinet Thailand and 1.0 times for the Parent Company. As of September 27, 2024, the Borrowers were in compliance with all of their financial covenants under the 2023 Credit Facility Agreement. Litigation and claim On June 28, 2024, Ngan In Leng and First Laser Limited (collectively, the “Plaintiffs”) filed a complaint in the Fuzhou Intermediate People’s Court (the “Court”) in Fuzhou, China against Fujian Enterprises (Holdings) Co., Ltd. (“FEHC”), Jian An Investment Limited (“Jian”), and Casix, Inc. (“Casix”), the Company's wholly-owned subsidiary located in the PRC. The complaint alleges unjust enrichment related to a purported investment in Casix by the Plaintiffs in 1997, which predates the Company's acquisition of Casix from JDS Uniphase Corporation. The Plaintiffs have requested that the Court order FEHC to return the unjust enrichment to the Plaintiffs in the amount of RMB 400 million, with interest from March 1, 2000, and order Jian and Casix to bear joint and several liability for all payment obligations of FEHC. In September 2024, the Court dismissed the lawsuit in its entirety based on jurisdictional grounds. The Plaintiffs have since appealed the Court's ruling to the High People's Court of Fujian Province (the "Appellate Court"). In their appeal, the Plaintiffs now claim that Casix is the primary obligor to return the alleged unjust enrichment to the Plaintiffs. The matter is currently pending before the Appellate Court. At this time, the Company is not able to quantify any potential liability in connection with this litigation due to its pending status and preliminary nature.

Restructuring and other related

Restructuring and other related costs	3 Months Ended
	Sep. 27, 2024
Restructuring and Related Activities [Abstract]
Restructuring and other related costs	Restructuring and other related costs Restructuring and other related costs may consist of severance-related charges, asset-related charges and other costs due to exit activities. The Company recognizes severance-related charges depending on whether the termination benefits are provided under an ongoing benefit arrangement or under a one-time benefit arrangement. The Company recognizes the charges once the benefits have been communicated to employees.

Business segments and geographi

Business segments and geographic information	3 Months Ended
	Sep. 27, 2024
Segment Reporting [Abstract]
Business segments and geographic information	Business segments and geographic information Operating segments are defined as components of an enterprise that engage in business activities for which discrete financial information is available that is evaluated regularly by the chief operating decision maker (the “CODM”) in deciding how to allocate resources and in assessing performance. The Company’s CODM is Fabrinet’s Chief Executive Officer. As of September 27, 2024, the Company operated and internally managed a single operating segment. Accordingly, the Company does not accumulate discrete information with respect to separate product lines and does not have separate reportable segments. For the Company’s revenues by geographic region, see “Revenue by Geographic Area, End Market and Product Category” in Note 3. The following table presents long-lived assets by the country in which they are based: (in thousands) September 27, June 28, Long-Lived Assets: Thailand $ 265,900 $ 261,141 U.S. 28,631 28,914 China 14,459 14,586 Israel 1,818 2,160 Others 433 439 Total $ 311,241 $ 307,240 Significant customers The Company had three customers that each contributed to 10% or more of the Company's total trade accounts receivable as of September 27, 2024 and June 28, 2024.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended
	Sep. 27, 2024	Sep. 29, 2023
Pay vs Performance Disclosure
Net income	$ 77,394	$ 65,089

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Sep. 27, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Accounting policies (Policies)

Accounting policies (Policies)	3 Months Ended
	Sep. 27, 2024
Accounting Policies [Abstract]
Basis of presentation	Basis of presentation The accompanying unaudited condensed consolidated financial statements for Fabrinet as of September 27, 2024 and for the three months ended September 27, 2024 and September 29, 2023 include normal recurring adjustments necessary for a fair statement of the financial statements set forth herein, in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP” or "GAAP") for interim financial information and the rules and regulations of the Securities and Exchange Commission (“SEC”). Accordingly, such information does not include all of the information and footnotes required by U.S. GAAP for annual financial statements. For further information, please refer to the consolidated financial statements and footnotes thereto included in Fabrinet’s Annual Report on Form 10-K for the year ended June 28, 2024. The balance sheet as of June 28, 2024 has been derived from the audited financial statements at that date but does not include all of the information and footnotes required by U.S. GAAP for complete financial statements. The results for the three months ended September 27, 2024 may not be indicative of results for the year ending June 27, 2025 or any future periods.
Use of Estimates	Use of Estimates The preparation of the Company’s unaudited condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent liabilities at the date of the financial statements and the reported amount of total revenues and expenses during the year. The Company bases estimates on historical experience and various assumptions about the future that are believed to be reasonable based on available information. The Company’s reported financial position or results of operations may be materially different under different conditions or when using different estimates and assumptions, particularly with respect to significant accounting policies, which are discussed below. Significant assumptions are used in accounting for share-based compensation, allowance for expected credit losses, income taxes, and inventory obsolescence. Due to the inherent uncertainty involved in making estimates, actual results reported in future periods may be different from these estimates. In the event that the Company's estimates or assumptions prove to be different from actual results, adjustments will be made in subsequent periods to reflect more current information.
Fiscal years	Fiscal years The Company utilizes a 52-53 week fiscal year ending on the Friday in June closest to June 30. The three months ended September 27, 2024 and September 29, 2023 consisted of 13 weeks. Fiscal year 2025 will comprise 52 weeks and will end on June 27, 2025.
Adoption of New Accounting Standards	Adoption of New Accounting Standards No new accounting standard was adopted during the three months ended September 27, 2024. New Accounting Standards—not yet adopted by the Company In November 2023, the Financial Accounting Standards Board ("FASB") issued ASU 2023-07, “Segment Reporting (Topic 280), Improvements to Reportable Segment Disclosures,” which is intended to improve reportable segment disclosure requirements, primarily through additional disclosures about significant segment expenses. This ASU is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, with early adoption permitted. This ASU is effective for the Company's annual periods beginning June 29, 2024, and interim periods beginning June 28, 2025, and will be applied retrospectively to all prior periods presented in the financial statements. The Company is currently evaluating the ASU to determine its impact on the Company's disclosures.
Contract Assets and Liabilities	Contract Assets and Liabilities A contract asset is recognized when the Company has recognized revenues, but has not yet issued an invoice to its customer for payment. Contract assets are recognized in the unaudited condensed consolidated balance sheets under other current assets and transferred to accounts receivable when rights to payment become unconditional. As of September 27, 2024 and June 28, 2024, the Company's contract assets were de minimis. A contract liability is recognized when the Company has advance payment arrangements with customers. Contract liabilities are recognized in the unaudited condensed consolidated balance sheets under other payables. The contract liabilities balance is normally recognized as revenue within six months.

Revenues from contracts with _2

Revenues from contracts with customers (Tables)	3 Months Ended
	Sep. 27, 2024
Revenue from Contract with Customer [Abstract]
Schedule of Disaggregation of Revenue by Geographical Regions	The following table presents total revenues by geographic region: (in thousands, except percentages) Three Months Ended As a % of Total Three Months Ended As a % of Total North America U.S. $ 307,820 $ 254,859 Others (1) 1,658 3,460 Total revenue in North America 309,478 38.5 % 258,319 37.7 % Asia-Pacific and others Israel 290,953 210,676 India 76,830 70,777 Hong Kong 18,547 15,788 China 11,872 20,260 Thailand 11,121 13,027 Singapore 10,763 683 Malaysia 7,498 33,319 Others 9,054 7,292 Total revenue in Asia-Pacific and others 436,638 54.3 % 371,822 54.2 % Europe U.K. 32,450 29,774 Germany 9,344 12,780 Others 16,318 12,782 Total revenue in Europe $ 58,112 7.2 % $ 55,336 8.1 % Total revenue $ 804,228 100.0 % $ 685,477 100.0 % (1) Others includes revenues from external customers based in our country of domicile, the Cayman Islands, which for each year presented is $0.
Schedule of Revenues by End Market and Product	The following table presents revenues by end market and product category: (in thousands, except percentages) Three Months Ended As a % of Total Three Months Ended As a % of Total Optical communications Datacom $ 328,881 $ 242,043 Telecom 297,434 291,214 Total revenue - Optical communications $ 626,315 77.9 % $ 533,257 77.8 % Non-optical communications Automotive $ 102,741 $ 88,358 Industrial laser 35,326 29,915 Others 39,846 33,947 Total revenue - Non-optical communications $ 177,913 22.1 % $ 152,220 22.2 % Total revenue $ 804,228 100.0 % $ 685,477 100.0 %
Schedule of Activity in the Company's Contract Assets and Liabilities	The following tables summarize the activity in the Company’s contract liabilities during the three months ended September 27, 2024: (in thousands) Contract Beginning balance, June 28, 2024 $ 7,846 Advance payments received during the period 2,627 Revenue recognized (1,550) Ending balance, September 27, 2024 $ 8,923

Earnings per ordinary share (Ta

Earnings per ordinary share (Tables)	3 Months Ended
	Sep. 27, 2024
Earnings Per Share [Abstract]
Schedule of Earnings Per Ordinary Share	Earnings per ordinary share was calculated as follows: Three Months Ended (in thousands, except per share data) September 27, September 29, Net income attributable to shareholders $ 77,394 $ 65,089 Weighted-average number of ordinary shares outstanding 36,203 36,256 Incremental shares arising from the assumed vesting of restricted share units and performance share units 205 225 Weighted-average number of ordinary shares for diluted earnings per ordinary share 36,408 36,481 Basic earnings per ordinary share $ 2.14 $ 1.80 Diluted earnings per ordinary share $ 2.13 $ 1.78

Cash, cash equivalents and sh_2

Cash, cash equivalents and short-term investments (Tables)	3 Months Ended
	Sep. 27, 2024
Cash and Cash Equivalents [Abstract]
Summary of Components of Cash, Cash Equivalents, and Short-Term Investments	The Company’s cash, cash equivalents, and short-term investments are as follows: Fair Value (in thousands) Carrying Unrealized Cash and Marketable Other As of September 27, 2024 Cash $ 400,236 $ — $ 400,236 $ — $ — Cash equivalents 448 — 448 — — Certificates of deposit and time deposits 144,527 1,193 — 145,720 — Corporate debt securities 144,356 2,767 — 147,123 — U.S. agency and U.S. treasury securities 213,669 1,681 — 215,350 — Total $ 903,236 $ 5,641 $ 400,684 $ 508,193 $ — As of June 28, 2024 Cash $ 409,938 $ — $ 409,938 $ — $ — Cash equivalents 35 — 35 — — Certificates of deposit and time deposits 134,288 (5) — 134,283 — Corporate debt securities 137,695 (932) — 136,763 — U.S. agency and U.S. treasury securities 177,824 (240) — 177,584 — Total $ 859,780 $ (1,177) $ 409,973 $ 448,630 $ —
Schedule of Available-for-Sale Securities Based on Stated Effective Maturities	The following table summarizes the cost and estimated fair value of short-term investments classified as available-for-sale securities based on stated effective maturities as of September 27, 2024 and June 28, 2024: September 27, 2024 June 28, 2024 (in thousands) Carrying Fair Value Carrying Fair Value Due within one year $ 112,061 $ 113,287 $ 110,671 $ 110,669 Due between one to five years 390,491 394,906 339,136 337,961 Total $ 502,552 $ 508,193 $ 449,807 $ 448,630

Fair value of financial instr_2

Fair value of financial instruments (Tables)	3 Months Ended
	Sep. 27, 2024
Fair Value Disclosures [Abstract]
Schedule of Financial Instruments Measured at Fair Value on Recurring Basis	The following table provides details of the financial instruments measured at fair value on a recurring basis, including: Fair Value Measurements at Reporting Date Using (in thousands) Level 1 Level 2 Level 3 Total As of September 27, 2024 Assets Cash equivalents $ — $ 448 $ — $ 448 Certificates of deposit and time deposits — 145,720 — 145,720 Corporate debt securities — 147,123 — 147,123 U.S. agency and U.S. treasury securities — 215,350 — 215,350 Derivative assets – current portion — 11,023 (1) — 11,023 Total $ — $ 519,664 $ — $ 519,664 Liabilities Derivative liabilities – current portion $ — $ (1) $ — $ (1) Total $ — $ (1) (2) $ — $ (1) Fair Value Measurements at Reporting Date Using (in thousands) Level 1 Level 2 Level 3 Total As of June 28, 2024 Assets Cash equivalents $ — $ 35 $ — $ 35 Certificates of deposit and time deposits — 134,283 — 134,283 Corporate debt securities — 136,763 — 136,763 U.S. agency and U.S. treasury securities — 177,584 — 177,584 Derivative assets – current portion — 15 (3) — 15 Total $ — $ 448,680 $ — $ 448,680 Liabilities Derivative liabilities – current portion $ — $ (2,244) $ — $ (2,244) Total $ — $ (2,244) (4) $ — $ (2,244) (1) Foreign currency forward contracts with an aggregate notional amount of $129.0 million and 0.4 million Canadian dollars. (2) Foreign currency forward contract with a notional amount of $1.0 million. (3) Foreign currency forward contracts with an aggregate notional amount of $8.0 million. (4) Foreign currency forward contracts with an aggregate notional amount of $127.0 million and 0.4 million Canadian dollars.
Schedule of Impacts of Derivative Gain (Loss) of Cash Flow Hedges	The following table provides a summary of the impact of derivative gain (loss) of the Company’s foreign currency forward contracts and interest rate swaps which were designated as cash flow hedges on the unaudited condensed consolidated statements of operations and other comprehensive income: Three Months Ended (in thousands) Financial September 27, September 29, Derivatives gain (loss) recognized in other comprehensive income (loss): Foreign currency forward contracts Other $ 13,246 $ (1,565) Interest rate swaps Other — (78) Total derivatives gain (loss) recognized in other comprehensive income (loss) $ 13,246 $ (1,643) Derivatives (gain) loss reclassified from accumulated other comprehensive income (loss) into earnings: Foreign currency forward contracts Cost of revenues $ 1,419 $ 3,672 Foreign currency forward contracts SG&A 106 155 Foreign currency forward contracts Foreign exchange loss, net (5,909) (3,215) Interest rate swaps Interest expense — (89) Total derivatives (gain) loss reclassified from accumulated other comprehensive income (loss) into earnings $ (4,384) $ 523 Change in net unrealized gain (loss) on derivatives instruments $ 8,862 $ (1,120)
Schedule of Derivative Financial Instruments	The following table provides the fair values of the Company’s derivative financial instruments for the periods presented: September 27, June 28, (in thousands) Derivative Derivative Derivative Derivative Derivatives not designated as hedging instruments Foreign currency forward and option contracts $ 3,318 $ — $ — $ (1,088) Derivatives designated as hedging instruments Foreign currency forward contracts 7,705 (1) 15 (1,156) Derivatives, gross balances $ 11,023 $ (1) $ 15 $ (2,244)
Schedule of Derivative Financial Instruments in the Unaudited Condensed Consolidated Balance Sheets	The Company recorded the fair value of derivative financial instruments in the unaudited condensed consolidated balance sheets as follows: Derivative Financial Instruments Balance Sheet line item Fair Value of Derivative Assets Other current assets, Other non-current assets Fair Value of Derivative Liabilities Accrued expenses, Other non-current liabilities

Inventories (Tables)

Inventories (Tables)	3 Months Ended
	Sep. 27, 2024
Inventory Disclosure [Abstract]
Schedule of Inventory	(in thousands) As of September 27, As of June 28, Raw materials $ 98,608 $ 139,063 Work in progress 276,777 266,112 Finished goods 41,433 39,121 Goods in transit 23,587 18,910 Total inventories $ 440,405 $ 463,206

Leases (Tables)

Leases (Tables)	3 Months Ended
	Sep. 27, 2024
Leases [Abstract]
Schedule of Operating Lease Liabilities	As of September 27, 2024, the maturities of the Company’s operating lease liabilities were as follows: (in thousands) 2025 (remaining nine months) $ 1,266 2026 1,651 2027 814 2028 363 2029 330 Thereafter 1,305 Total undiscounted lease payments 5,729 Less imputed interest (879) Total present value of lease liabilities $ 4,850 (1) (1)
Summary of Additional Information Related to Operating and Finance Lease	The following summarizes additional information related to the Company’s operating leases: As of September 27, 2024 As of June 28, 2024 Weighted-average remaining lease term (in years) 5.5 5.6 Weighted-average discount rate 5.6 % 5.6 %
Schedule of Supplemental Cash Flow and Other Information Related to Leases	The following table presents supplemental disclosure for the unaudited condensed consolidated statements of cash flows related to operating and finance leases for the three months ended September 27, 2024 and September 29, 2023: Three Months Ended (in thousands) September 27, September 29, Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from operating leases $ 745 $ 959 ROU assets obtained in exchange for lease liabilities $ 159 $ 4,936

Intangibles (Tables)

Intangibles (Tables)	3 Months Ended
	Sep. 27, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Intangible Assets	The following tables present details of the Company’s intangibles: (in thousands) Gross Accumulated Net As of September 27, 2024 Software $ 11,532 $ (9,331) $ 2,201 (in thousands) Gross Accumulated Net As of June 28, 2024 Software $ 11,398 $ (9,077) $ 2,321
Schedule of Weighted-Average Remaining Life of Intangible Assets	The weighted-average remaining life of software was: (years) As of September 27, 2024 As of June 28, 2024 Software 1.8 2.1
Schedule of Estimated Future Amortization of Intangibles Assets	Based on the carrying amount of intangibles as of September 27, 2024, and assuming no future impairment of the underlying assets, the estimated future amortization during each fiscal year was as follows: (in thousands) 2025 (remaining nine months) $ 652 2026 673 2027 472 2028 300 2029 100 Thereafter 4 Total $ 2,201

Share-based compensation (Table

Share-based compensation (Tables)	3 Months Ended
	Sep. 27, 2024
Share-Based Payment Arrangement [Abstract]
Summary of Effect of Recording Share-Based Compensation Expense	The effect of recording share-based compensation expense for the three months ended September 27, 2024 and September 29, 2023 was as follows: Three Months Ended (in thousands) September 27, September 29, Share-based compensation expense by type of award: Restricted share units $ 5,713 $ 4,879 Performance share units 2,969 2,854 Total share-based compensation expense 8,682 7,733 Tax effect on share-based compensation expense — — Net effect on share-based compensation expense $ 8,682 $ 7,733
Schedule of Share-Based Compensation Expense Recorded in Condensed Consolidated Statements of Operations and Comprehensive Income	Share-based compensation expense was recorded in the unaudited condensed consolidated statements of operations and comprehensive income as follows: Three Months Ended (in thousands) September 27, September 29, Cost of revenue $ 2,898 $ 2,165 Selling, general and administrative expense 5,784 5,568 Total share-based compensation expense $ 8,682 $ 7,733
Share-Based Payment Arrangement, Activity	The following table summarizes the number of equity awards outstanding and ordinary shares available for grant under each of the Equity Incentive Plans as of September 27, 2024: (share units) Restricted Share Units outstanding Performance Share Units outstanding Ordinary Shares available for future grant 2020 Plan 280,753 120,916 1,607,040 2017 Inducement Plan — — 111,347 Total 280,753 120,916 1,718,387
Schedule of Restricted Share Unit Activity	The following table summarizes restricted share unit activity under the Equity Incentive Plans: Number Weighted- Balance as of June 28, 2024 306,660 $ 129.01 Granted 92,048 $ 261.84 Vested (113,262) $ 112.98 Forfeited (4,693) $ 138.88 Balance as of September 27, 2024 280,753 $ 178.86 Number Weighted- Balance as of June 30, 2023 368,765 $ 97.49 Granted 95,393 $ 158.91 Vested (139,438) $ 85.02 Forfeited (4,709) $ 108.19 Balance as of September 29, 2023 320,011 $ 121.07
Schedule of Performance Share Unit Activity	The following table summarizes performance share unit activity under the Equity Incentive Plans: Number Weighted- Balance as of June 28, 2024 171,078 $ 135.31 Granted 46,980 $ 261.84 Vested (97,142) $ 117.35 Forfeited — $ — Balance as of September 27, 2024 120,916 $ 198.90 Number Weighted- Balance as of June 30, 2023 204,016 $ 108.81 Granted 73,936 $ 158.91 Vested (106,874) 101.05 Forfeited — $ — Balance as of September 29, 2023 171,078 $ 135.31

Accumulated other comprehensi_2

Accumulated other comprehensive income (loss) (Tables)	3 Months Ended
	Sep. 27, 2024
Equity [Abstract]
Schedule of Changes in AOCI	The changes in AOCI for the three months ended September 27, 2024 and September 29, 2023 were as follows: (in thousands) Unrealized net Unrealized net Foreign Total Balance as of June 28, 2024 $ (1,179) $ (980) $ (982) $ (3,141) Other comprehensive income (loss) before reclassification 6,818 13,246 (352) 19,712 Amounts reclassified out of AOCI to the unaudited condensed consolidated statements of operations and comprehensive income — (4,384) — (4,384) Tax effects — (329) — (329) Other comprehensive income (loss) $ 6,818 $ 8,533 $ (352) $ 14,999 Balance as of September 27, 2024 $ 5,639 $ 7,553 $ (1,334) $ 11,858 (in thousands) Unrealized net Unrealized net Retirement Foreign Total Balance as of June 30, 2023 $ (3,279) $ (3,541) $ (330) $ (965) $ (8,115) Other comprehensive income (loss) before reclassification 948 (1,643) — 100 (595) Amounts reclassified out of AOCI to the unaudited condensed consolidated statements of operations and comprehensive income — 523 90 — 613 Tax effects — 559 36 — 595 Other comprehensive income (loss) $ 948 $ (561) $ 126 $ 100 $ 613 Balance as of September 29, 2023 $ (2,331) $ (4,102) $ (204) $ (865) $ (7,502)

Business segments and geograp_2

Business segments and geographic information (Tables)	3 Months Ended
	Sep. 27, 2024
Segment Reporting [Abstract]
Schedule of Revenue from External Customers and Long-lived Assets	The following table presents long-lived assets by the country in which they are based: (in thousands) September 27, June 28, Long-Lived Assets: Thailand $ 265,900 $ 261,141 U.S. 28,631 28,914 China 14,459 14,586 Israel 1,818 2,160 Others 433 439 Total $ 311,241 $ 307,240

Revenues from contracts with _3

Revenues from contracts with customers - Narrative (Details)	3 Months Ended
	Sep. 27, 2024 region
Revenue from Contract with Customer [Abstract]
Number of geographic regions	3

Revenues from contracts with _4

Revenues from contracts with customers - Schedule of Disaggregation of Revenue by Geographical Regions (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 27, 2024	Sep. 29, 2023
Disaggregation of Revenue [Line Items]
Revenues	$ 804,228	$ 685,477
Geographic concentration risk | Revenue from contract with customer benchmark
Disaggregation of Revenue [Line Items]
Revenues, percentage	100%	100%
North America
Disaggregation of Revenue [Line Items]
Revenues	$ 309,478	$ 258,319
North America | Geographic concentration risk | Revenue from contract with customer benchmark
Disaggregation of Revenue [Line Items]
Revenues, percentage	38.50%	37.70%
U.S.
Disaggregation of Revenue [Line Items]
Revenues	$ 307,820	$ 254,859
Others
Disaggregation of Revenue [Line Items]
Revenues	1,658	3,460
Cayman Islands
Disaggregation of Revenue [Line Items]
Revenues	0	0
Asia-Pacific and others
Disaggregation of Revenue [Line Items]
Revenues	$ 436,638	$ 371,822
Asia-Pacific and others | Geographic concentration risk | Revenue from contract with customer benchmark
Disaggregation of Revenue [Line Items]
Revenues, percentage	54.30%	54.20%
Israel
Disaggregation of Revenue [Line Items]
Revenues	$ 290,953	$ 210,676
India
Disaggregation of Revenue [Line Items]
Revenues	76,830	70,777
Hong Kong
Disaggregation of Revenue [Line Items]
Revenues	18,547	15,788
China
Disaggregation of Revenue [Line Items]
Revenues	11,872	20,260
Thailand
Disaggregation of Revenue [Line Items]
Revenues	11,121	13,027
Singapore
Disaggregation of Revenue [Line Items]
Revenues	10,763	683
Malaysia
Disaggregation of Revenue [Line Items]
Revenues	7,498	33,319
Others
Disaggregation of Revenue [Line Items]
Revenues	9,054	7,292
Europe
Disaggregation of Revenue [Line Items]
Revenues	$ 58,112	$ 55,336
Europe | Geographic concentration risk | Revenue from contract with customer benchmark
Disaggregation of Revenue [Line Items]
Revenues, percentage	7.20%	8.10%
U.K.
Disaggregation of Revenue [Line Items]
Revenues	$ 32,450	$ 29,774
Germany
Disaggregation of Revenue [Line Items]
Revenues	9,344	12,780
Others
Disaggregation of Revenue [Line Items]
Revenues	$ 16,318	$ 12,782

Revenues from contracts with _5

Revenues from contracts with customers - Schedule of Revenues by End Market and Product (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 27, 2024	Sep. 29, 2023
Disaggregation of Revenue [Line Items]
Revenues	$ 804,228	$ 685,477
Revenue from contract with customer benchmark | Product concentration risk
Disaggregation of Revenue [Line Items]
Revenues, percentage	100%	100%
Optical communications
Disaggregation of Revenue [Line Items]
Revenues	$ 626,315	$ 533,257
Optical communications | Revenue from contract with customer benchmark | Product concentration risk
Disaggregation of Revenue [Line Items]
Revenues, percentage	77.90%	77.80%
Datacom
Disaggregation of Revenue [Line Items]
Revenues	$ 328,881	$ 242,043
Telecom
Disaggregation of Revenue [Line Items]
Revenues	297,434	291,214
Non-optical communications
Disaggregation of Revenue [Line Items]
Revenues	$ 177,913	$ 152,220
Non-optical communications | Revenue from contract with customer benchmark | Product concentration risk
Disaggregation of Revenue [Line Items]
Revenues, percentage	22.10%	22.20%
Automotive
Disaggregation of Revenue [Line Items]
Revenues	$ 102,741	$ 88,358
Industrial laser
Disaggregation of Revenue [Line Items]
Revenues	35,326	29,915
Others
Disaggregation of Revenue [Line Items]
Revenues	$ 39,846	$ 33,947

Revenues from contracts with _6

Revenues from contracts with customers - Schedule of Activity in the Company's Contract Assets and Liabilities (Details) $ in Thousands	3 Months Ended
	Sep. 27, 2024 USD ($)
Contract Liabilities
Beginning balance, June 28, 2024	$ 7,846
Advance payments received during the period	2,627
Revenue recognized	(1,550)
Ending balance, September 27, 2024	$ 8,923

Earnings per ordinary share (De

Earnings per ordinary share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Sep. 27, 2024	Sep. 29, 2023
Earnings Per Share [Abstract]
Net income attributable to shareholders	$ 77,394	$ 65,089
Weighted-average number of ordinary shares outstanding (in shares)	36,203	36,256
Incremental shares arising from the assumed vesting of restricted share units and performance share units (in shares)	205	225
Weighted-average number of ordinary shares for diluted earnings per ordinary share (in shares)	36,408	36,481
Basic earnings per ordinary share (in USD per share)	$ 2.14	$ 1.80
Diluted earnings per ordinary share (in USD per share)	$ 2.13	$ 1.78

Cash, cash equivalents and sh_3

Cash, cash equivalents and short-term investments - Summary of Components of Cash, Cash Equivalents, and Short-Term Investments (Details) - USD ($) $ in Thousands	Sep. 27, 2024	Jun. 28, 2024
Cash and Cash Equivalents [Line Items]
Carrying cost, total	$ 502,552	$ 449,807
Cash and cash equivalents and marketable securities, carrying cost	903,236	859,780
Unrealized Gain/ (Loss)	5,641	(1,177)
Cash and Cash Equivalents, at Carrying Value	400,684	409,973
Marketable Securities	508,193	448,630
Other Investments	0	0
Cash
Cash and Cash Equivalents [Line Items]
Carrying Cost	400,236	409,938
Cash and Cash Equivalents, at Carrying Value	400,236	409,938
Cash equivalents
Cash and Cash Equivalents [Line Items]
Carrying Cost	448	35
Unrealized Gain/ (Loss)	0
Cash and Cash Equivalents, at Carrying Value	448	35
Certificates of deposit and time deposits
Cash and Cash Equivalents [Line Items]
Carrying cost, total	144,527	134,288
Unrealized Gain/ (Loss)	1,193	(5)
Marketable Securities	145,720	134,283
Corporate debt securities
Cash and Cash Equivalents [Line Items]
Carrying cost, total	144,356	137,695
Unrealized Gain/ (Loss)	2,767	(932)
Marketable Securities	147,123	136,763
U.S. agency and U.S. treasury securities
Cash and Cash Equivalents [Line Items]
Carrying cost, total	213,669	177,824
Unrealized Gain/ (Loss)	1,681	(240)
Marketable Securities	$ 215,350	$ 177,584

Cash, cash equivalents and sh_4

Cash, cash equivalents and short-term investments - Narrative (Details)	3 Months Ended
	Sep. 27, 2024
Minimum
Cash, cash equivalents and marketable securities [Line Items]
Maturities period of marketable securities	3 months
Maximum
Cash, cash equivalents and marketable securities [Line Items]
Maturities period of marketable securities	3 years

Cash, cash equivalents and sh_5

Cash, cash equivalents and short-term investments - Schedule of Available-for-Sale Securities Based on Stated Effective Maturities (Details) - USD ($) $ in Thousands	Sep. 27, 2024	Jun. 28, 2024
Investments Classified by Contractual Maturity Date [Line Items]
Carrying cost, total	$ 502,552	$ 449,807
Fair value, total	508,193	448,630
Carrying Cost
Investments Classified by Contractual Maturity Date [Line Items]
Carrying cost, due within one year	112,061	110,671
Carrying cost, due between one to five years	390,491	339,136
Fair Value
Investments Classified by Contractual Maturity Date [Line Items]
Fair value, due within one year	113,287	110,669
Fair value, due between one to five years	394,906	337,961
Fair value, total	$ 508,193	$ 448,630

Fair value of financial instr_3

Fair value of financial instruments - Schedule of Financial Instruments Measured at Fair Value on Recurring Basis (Details) $ in Thousands, $ in Millions	Sep. 27, 2024 USD ($)	Jun. 28, 2024 USD ($)	Jun. 28, 2024 CAD ($)
Foreign currency forward contracts
Liabilities
Derivative assets, notional amount		$ 8,000
Derivative liabilities, notional amount	$ 1,000	127,000
Foreign currency forward contracts | Canada, dollars
Liabilities
Derivative liabilities, notional amount			$ 0.4
Fair value, measurements, recurring
Assets
Derivative assets – current portion	11,023	15
Total	519,664	448,680
Liabilities
Derivative liabilities – current portion	(1)	(2,244)
Total	(1)	(2,244)
Fair value, measurements, recurring | Foreign currency forward contracts
Liabilities
Derivative assets, notional amount	129,000
Fair value, measurements, recurring | Cash equivalents
Assets
Marketable securities	448	35
Fair value, measurements, recurring | Certificates of deposit and time deposits
Assets
Marketable securities	145,720	134,283
Fair value, measurements, recurring | Corporate debt securities
Assets
Marketable securities	147,123	136,763
Fair value, measurements, recurring | U.S. agency and U.S. treasury securities
Assets
Marketable securities	215,350	177,584
Level 1 | Fair value, measurements, recurring
Assets
Derivative assets – current portion	0	0
Total	0	0
Liabilities
Derivative liabilities – current portion	0	0
Total	0	0
Level 1 | Fair value, measurements, recurring | Cash equivalents
Assets
Marketable securities	0	0
Level 1 | Fair value, measurements, recurring | Certificates of deposit and time deposits
Assets
Marketable securities	0	0
Level 1 | Fair value, measurements, recurring | Corporate debt securities
Assets
Marketable securities	0	0
Level 1 | Fair value, measurements, recurring | U.S. agency and U.S. treasury securities
Assets
Marketable securities	0	0
Level 2 | Fair value, measurements, recurring
Assets
Derivative assets – current portion	11,023	15
Total	519,664	448,680
Liabilities
Derivative liabilities – current portion	(1)	(2,244)
Total	(1)	(2,244)
Level 2 | Fair value, measurements, recurring | Cash equivalents
Assets
Marketable securities	448	35
Level 2 | Fair value, measurements, recurring | Certificates of deposit and time deposits
Assets
Marketable securities	145,720	134,283
Level 2 | Fair value, measurements, recurring | Corporate debt securities
Assets
Marketable securities	147,123	136,763
Level 2 | Fair value, measurements, recurring | U.S. agency and U.S. treasury securities
Assets
Marketable securities	215,350	177,584
Level 3 | Fair value, measurements, recurring
Assets
Derivative assets – current portion	0	0
Total	0	0
Liabilities
Derivative liabilities – current portion	0	0
Total	0	0
Level 3 | Fair value, measurements, recurring | Cash equivalents
Assets
Marketable securities	0	0
Level 3 | Fair value, measurements, recurring | Certificates of deposit and time deposits
Assets
Marketable securities	0	0
Level 3 | Fair value, measurements, recurring | Corporate debt securities
Assets
Marketable securities	0	0
Level 3 | Fair value, measurements, recurring | U.S. agency and U.S. treasury securities
Assets
Marketable securities	$ 0	$ 0

Fair value of financial instr_4

Fair value of financial instruments - Narrative (Details) - Foreign currency forward contracts $ in Millions, $ in Millions	3 Months Ended		12 Months Ended
	Sep. 27, 2024 USD ($) contract	Sep. 29, 2023 USD ($)	Jun. 28, 2024 USD ($) contract	Sep. 27, 2024 CAD ($) contract	Jun. 28, 2024 CAD ($) contract
Foreign Currency Fair Value Hedge Derivative [Line Items]
Derivative assets, notional amount			$ 8
Gain/(loss) from accumulated other comprehensive income expected to be reclassified	$ 7.7		$ (1.2)
Unrealized gain (loss) on derivatives	$ 4.1	$ 0.3
Designated as hedging instrument | Thailand, baht
Foreign Currency Fair Value Hedge Derivative [Line Items]
Number of forward contracts outstanding | contract	130		135	130	135
Derivative, notional amount	$ 130		$ 135
Designated as hedging instrument | Canada, dollars
Foreign Currency Fair Value Hedge Derivative [Line Items]
Number of forward contracts outstanding | contract	1		1	1	1
Derivative assets, notional amount				$ 0.4	$ 0.4

Fair value of financial instr_5

Fair value of financial instruments - Schedule of Impacts of Derivative Gain (Loss) of Cash Flow Hedges (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 27, 2024	Sep. 29, 2023
Derivatives gain (loss) recognized in other comprehensive income (loss):
Total derivatives gain (loss) recognized in other comprehensive income (loss)	$ 13,246	$ (1,643)
Derivatives (gain) loss reclassified from accumulated other comprehensive income (loss) into earnings:
Total derivatives (gain) loss reclassified from accumulated other comprehensive income (loss) into earnings	(4,384)	523
Change in net unrealized gain (loss) on derivatives instruments	8,862	(1,120)
Foreign currency forward contracts | Cost of revenues
Derivatives (gain) loss reclassified from accumulated other comprehensive income (loss) into earnings:
Total derivatives (gain) loss reclassified from accumulated other comprehensive income (loss) into earnings	1,419	3,672
Foreign currency forward contracts | SG&A
Derivatives (gain) loss reclassified from accumulated other comprehensive income (loss) into earnings:
Total derivatives (gain) loss reclassified from accumulated other comprehensive income (loss) into earnings	106	155
Foreign currency forward contracts | Foreign exchange loss, net
Derivatives (gain) loss reclassified from accumulated other comprehensive income (loss) into earnings:
Total derivatives (gain) loss reclassified from accumulated other comprehensive income (loss) into earnings	(5,909)	(3,215)
Foreign currency forward contracts | Other comprehensive income
Derivatives gain (loss) recognized in other comprehensive income (loss):
Total derivatives gain (loss) recognized in other comprehensive income (loss)	13,246	(1,565)
Interest rate swaps | Interest expense
Derivatives (gain) loss reclassified from accumulated other comprehensive income (loss) into earnings:
Total derivatives (gain) loss reclassified from accumulated other comprehensive income (loss) into earnings	0	(89)
Interest rate swaps | Other comprehensive income
Derivatives gain (loss) recognized in other comprehensive income (loss):
Total derivatives gain (loss) recognized in other comprehensive income (loss)	$ 0	$ (78)

Fair value of financial instr_6

Fair value of financial instruments - Schedule of Derivative Financial Instruments (Details) - USD ($) $ in Thousands	Sep. 27, 2024	Jun. 28, 2024
Derivatives designated as hedging instruments
Derivative assets, gross balances	$ 11,023	$ 15
Derivative liabilities, gross balances	(1)	(2,244)
Foreign currency forward and option contracts
Derivatives not designated as hedging instruments
Derivative Assets	3,318	0
Derivative Liabilities	0	(1,088)
Foreign currency forward contracts
Derivatives designated as hedging instruments
Derivative Assets	7,705	15
Derivative Liabilities	$ (1)	$ (1,156)

Inventories - Schedule of inven

Inventories - Schedule of inventory (Details) - USD ($) $ in Thousands	Sep. 27, 2024	Jun. 28, 2024
Inventory Disclosure [Abstract]
Raw materials	$ 98,608	$ 139,063
Work in progress	276,777	266,112
Finished goods	41,433	39,121
Goods in transit	23,587	18,910
Total inventories	$ 440,405	$ 463,206

Leases - Narrative (Details)

Leases - Narrative (Details) $ in Millions	3 Months Ended
	Sep. 27, 2024 USD ($) lease	Sep. 29, 2023 USD ($)
Leases [Abstract]
Number of intercompany lease | lease	1
Operating lease rental expense, long term	$ 0.5	$ 0.5
Operating lease rental expense, short term		$ 0.4

Leases - Schedule of Operating

Leases - Schedule of Operating Lease Liabilities (Details) - USD ($) $ in Thousands	Sep. 27, 2024	Jun. 28, 2024
Leases [Abstract]
2025 (remaining nine months)	$ 1,266
2026	1,651
2027	814
2028	363
2029	330
Thereafter	1,305
Total undiscounted lease payments	5,729
Less imputed interest	(879)
Total present value of lease liabilities	4,850
Operating lease liabilities, current portion	$ 1,416	$ 1,355

Leases - Summary of Additional

Leases - Summary of Additional Information Related to Operating and Finance Lease (Details)	Sep. 27, 2024	Jun. 28, 2024
Leases [Abstract]
Weighted-average remaining lease term (in years)	5 years 6 months	5 years 7 months 6 days
Weighted-average discount rate	5.60%	5.60%

Leases - Schedule of Supplement

Leases - Schedule of Supplemental Cash Flow and Other Information Related to Leases (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 27, 2024	Sep. 29, 2023
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases	$ 745	$ 959
ROU assets obtained in exchange for lease liabilities	$ 159	$ 4,936

Intangibles - Schedule of Intan

Intangibles - Schedule of Intangible Assets (Details) - USD ($) $ in Thousands	Sep. 27, 2024	Jun. 28, 2024
Finite-Lived Intangible Assets [Line Items]
Intangibles, net	$ 2,201	$ 2,321
Software
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	11,532	11,398
Accumulated Amortization	(9,331)	(9,077)
Intangibles, net	$ 2,201	$ 2,321

Intangibles - Narrative (Detail

Intangibles - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Sep. 27, 2024	Sep. 29, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense related to intangibles	$ 0.3	$ 0.2

Intangibles - Schedule of Weigh

Intangibles - Schedule of Weighted-Average Remaining Life of Intangible Assets (Details)	3 Months Ended	12 Months Ended
	Sep. 27, 2024	Jun. 28, 2024
Software
Finite-Lived Intangible Liabilities [Line Items]
Weighted average remaining life of acquired intangible assets	1 year 9 months 18 days	2 years 1 month 6 days

Intangibles - Schedule of Estim

Intangibles - Schedule of Estimated Future Amortization of Intangibles Assets (Details) - USD ($) $ in Thousands	Sep. 27, 2024	Jun. 28, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
2025 (remaining nine months)	$ 652
2026	673
2027	472
2028	300
2029	100
Thereafter	4
Total	$ 2,201	$ 2,321

Income taxes (Details)

Income taxes (Details) - USD ($) $ in Millions	3 Months Ended
	Sep. 27, 2024	Sep. 29, 2023	Jun. 28, 2024
Income Tax Disclosure [Abstract]
Liability for uncertain tax positions including accrued interest and penalties	$ 2		$ 1.3
Corporate effective income tax rate	4.20%	7.20%
Deferred tax assets, valuation allowance		$ 2.1

Share-based compensation - Summ

Share-based compensation - Summary of Effect of Recording Share-Based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 27, 2024	Sep. 29, 2023
Share-based compensation expense by type of award:
Restricted share units	$ 5,713	$ 4,879
Performance share units	2,969	2,854
Total share-based compensation expense	8,682	7,733
Tax effect on share-based compensation expense	0	0
Net effect on share-based compensation expense	$ 8,682	$ 7,733

Share-based compensation - Sche

Share-based compensation - Schedule of Share-Based Compensation Expense Recorded in Condensed Consolidated Statements of Operations and Comprehensive Income (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 27, 2024	Sep. 29, 2023
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total share-based compensation expense	$ 8,682	$ 7,733
Cost of revenue
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total share-based compensation expense	2,898	2,165
Selling, general and administrative expense
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total share-based compensation expense	$ 5,784	$ 5,568

Share-based compensation - Narr

Share-based compensation - Narrative (Details) - USD ($)	3 Months Ended
	Sep. 27, 2024	Sep. 29, 2023	Dec. 12, 2019	Nov. 02, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation costs capitalized	$ 0	$ 0
Number of ordinary shares available for future grant (in shares)	1,718,387
Shares withheld to settle employee minimum statutory obligation for applicable income and other employment taxes (in shares)	88,007	99,518
Tax withholdings related to net share settlement of restricted share units	$ 20,220,000	$ 12,147,000
Restricted share units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized share-based compensation expense	$ 29,500,000
Unrecognized compensation expense, weighted-average period for recognition	3 years
Restricted share units | Vesting option one
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award granted vesting period, year	3 years
Restricted share units | Vesting option two
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award granted vesting period, year	4 years
Restricted share units | Non-employee director
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award granted vesting period, year	1 year
Restricted share units | Non-employee director | Vest on the first of January
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting percentage	100%
Performance share units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized share-based compensation expense	$ 16,200,000
Unrecognized compensation expense, weighted-average period for recognition	1 year 6 months
Performance share units | Executive of the company
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award granted vesting period, year	2 years
Performance share units | Executive of the company | Vest at the end of the performance period | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting percentage	0%
Performance share units | Executive of the company | Vest at the end of the performance period | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting percentage	100%
Equity Incentive 2020 plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of ordinary shares available for future grant (in shares)			1,700,000
Shares reserved for future issuance (in shares)			1,300,000
Shares authorized for future issuance (in shares)			1,281,619
2017 Inducement Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of ordinary shares available for future grant (in shares)	111,347
Shares authorized for future issuance (in shares)				160,000

Share-based compensation - Shar

Share-based compensation - Share-based Award Activity (Details) - shares	Sep. 27, 2024	Jun. 28, 2024	Sep. 29, 2023	Jun. 30, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of ordinary shares available for future grant (in shares)	1,718,387
2020 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of ordinary shares available for future grant (in shares)	1,607,040
2017 Inducement Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of ordinary shares available for future grant (in shares)	111,347
Restricted share units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share units outstanding (in shares)	280,753	306,660	320,011	368,765
Restricted share units | 2020 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share units outstanding (in shares)	280,753
Restricted share units | 2017 Inducement Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share units outstanding (in shares)	0
Performance share units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share units outstanding (in shares)	120,916	171,078	171,078	204,016
Performance share units | 2020 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share units outstanding (in shares)	120,916
Performance share units | 2017 Inducement Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share units outstanding (in shares)	0

Share-based compensation - Sc_2

Share-based compensation - Schedule of Restricted Share Unit Activity (Details) - Restricted share units - $ / shares	3 Months Ended
	Sep. 27, 2024	Sep. 29, 2023
Number of Shares
Number of share units, beginning balance (in shares)	306,660	368,765
Number of share units, granted (in shares)	92,048	95,393
Number of share units, vested (in shares)	(113,262)	(139,438)
Number of share units, forfeited (in shares)	(4,693)	(4,709)
Number of share units, ending balance (in shares)	280,753	320,011
Weighted- Average Grant Date Fair Value Per Share
Weighted-average grant date fair value per share, beginning balance (in USD per share)	$ 129.01	$ 97.49
Weighted-average grant date fair value per share, granted (in USD per share)	261.84	158.91
Weighted-average grant date fair value per share, vested (in USD per share)	112.98	85.02
Weighted-average grant date fair value per share, forfeited (in USD per share)	138.88	108.19
Weighted-average grant date fair value per share, ending balance (in USD per share)	$ 178.86	$ 121.07

Share-based compensation - Sc_3

Share-based compensation - Schedule of Performance Share Unit Activity (Details) - Performance share units - $ / shares	3 Months Ended
	Sep. 27, 2024	Sep. 29, 2023
Number of Shares
Number of share units, beginning balance (in shares)	171,078	204,016
Number of share units, granted (in shares)	46,980	73,936
Number of share units, vested (in shares)	(97,142)	(106,874)
Number of share units, forfeited (in shares)	0	0
Number of share units, ending balance (in shares)	120,916	171,078
Weighted- Average Grant Date Fair Value Per Share
Weighted-average grant date fair value per share, beginning balance (in USD per share)	$ 135.31	$ 108.81
Weighted-average grant date fair value per share, granted (in USD per share)	261.84	158.91
Weighted-average grant date fair value per share, vested (in USD per share)	117.35	101.05
Weighted-average grant date fair value per share, forfeited (in USD per share)	0	0
Weighted-average grant date fair value per share, ending balance (in USD per share)	$ 198.90	$ 135.31

Shareholders' equity (Details)

Shareholders' equity (Details) - USD ($)	3 Months Ended
	Sep. 27, 2024	Sep. 29, 2023	Aug. 31, 2024	Jun. 28, 2024	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2020	May 31, 2019	Feb. 28, 2018	Aug. 31, 2017
Shareholders Equity [Line Items]
Ordinary shares, authorized share capital (in shares)	500,000,000			500,000,000
Ordinary shares, par value (in USD per share)	$ 0.01			$ 0.01
Preferred shares, shares authorized (in shares)	5,000,000			5,000,000
Preferred shares, par value (in USD per share)	$ 0.01			$ 0.01
Share repurchase program, approved amount										$ 30,000,000
Share repurchase program, increase in shares authorized for repurchase			$ 139,500,000		$ 47,600,000	$ 78,700,000	$ 58,500,000	$ 50,000,000	$ 30,000,000
Aggregate share repurchase authorized	$ 200,000,000				$ 434,300,000
1999 and 2010 Stock Plan
Shareholders Equity [Line Items]
Ordinary shares issued upon vesting of restricted shares (in shares)	122,397	146,794

Accumulated other comprehensi_3

Accumulated other comprehensive income (loss) - Schedule of Changes in AOCI (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 27, 2024	Sep. 29, 2023
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	$ 1,745,745	$ 1,468,658
Other comprehensive income (loss) before reclassification	19,712	(595)
Amounts reclassified out of AOCI to the unaudited condensed consolidated statements of operations and comprehensive income	(4,384)	613
Tax effects	(329)	595
Total other comprehensive income (loss), net of tax	14,999	613
Ending balance	1,826,600	1,530,169
Unrealized net (Losses)/Gains on Available-for-sale Securities
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(1,179)	(3,279)
Other comprehensive income (loss) before reclassification	6,818	948
Amounts reclassified out of AOCI to the unaudited condensed consolidated statements of operations and comprehensive income	0	0
Tax effects	0	0
Total other comprehensive income (loss), net of tax	6,818	948
Ending balance	5,639	(2,331)
Unrealized net (Losses)/Gains on Derivative Instruments
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(980)	(3,541)
Other comprehensive income (loss) before reclassification	13,246	(1,643)
Amounts reclassified out of AOCI to the unaudited condensed consolidated statements of operations and comprehensive income	(4,384)	523
Tax effects	(329)	559
Total other comprehensive income (loss), net of tax	8,533	(561)
Ending balance	7,553	(4,102)
Retirement benefit plan - Prior service cost
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance		(330)
Other comprehensive income (loss) before reclassification		0
Amounts reclassified out of AOCI to the unaudited condensed consolidated statements of operations and comprehensive income		90
Tax effects		36
Total other comprehensive income (loss), net of tax		126
Ending balance		(204)
Foreign Currency Translation Adjustment
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(982)	(965)
Other comprehensive income (loss) before reclassification	(352)	100
Amounts reclassified out of AOCI to the unaudited condensed consolidated statements of operations and comprehensive income	0	0
Tax effects	0	0
Total other comprehensive income (loss), net of tax	(352)	100
Ending balance	(1,334)	(865)
AOCI Attributable to parent
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(3,141)	(8,115)
Total other comprehensive income (loss), net of tax	14,999	613
Ending balance	$ 11,858	$ (7,502)

Commitments and contingencies (

Commitments and contingencies (Details) ฿ in Millions, ¥ in Millions, $ in Millions	Sep. 27, 2024 USD ($)	Sep. 27, 2024 THB (฿)	Jun. 28, 2024 USD ($)	Jun. 28, 2024 THB (฿)	Jun. 28, 2024 CNY (¥)	Mar. 09, 2023 USD ($)
Commitments and Contingencies Disclosure [Line Items]
Outstanding bank guarantees given by banks on behalf of the company	$ 2.3	฿ 75.7	$ 2	฿ 73.2
Loss contingency, estimate of possible loss | ¥					¥ 400
2023 Credit Facility Agreement | Line of Credit
Commitments and Contingencies Disclosure [Line Items]
Line of credit facility borrowing capacity	30					$ 55
Long term debt outstanding	0
Service coverage ratio, minimum at payment of a dividend						1.5
Maximum debt to equity ratio						1
Inventories
Commitments and Contingencies Disclosure [Line Items]
Outstanding commitment to third parties	1,110
Thailand
Commitments and Contingencies Disclosure [Line Items]
Outstanding commitment to third parties	$ 21.3

Business segments and geograp_3

Business segments and geographic information - Schedule of Revenue from External Customers and Long-lived Assets (Details) - USD ($) $ in Thousands	Sep. 27, 2024	Jun. 28, 2024
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	$ 311,241	$ 307,240
Thailand
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	265,900	261,141
U.S.
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	28,631	28,914
China
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	14,459	14,586
Israel
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	1,818	2,160
Others
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	$ 433	$ 439

Business segments and geograp_4

Business segments and geographic information - Narrative (Details)	3 Months Ended	12 Months Ended
	Sep. 27, 2024	Jun. 28, 2024
Three Customers | Trade accounts receivable | Customer Concentration Risk
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues, percentage	10%	10%