ProShare Advisors LLC reduced its stake in Jabil Circuit, Inc. (NYSE:JBL) by 17.8% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,924 shares of the technology company’s stock after selling 3,006 shares during the quarter. ProShare Advisors LLC’s holdings in Jabil Circuit were worth $406,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds also recently modified their holdings of the company. BlackRock Inc. boosted its position in shares of Jabil Circuit by 10,288.7% in the 1st quarter. BlackRock Inc. now owns 15,301,794 shares of the technology company’s stock worth $442,528,000 after purchasing an additional 15,154,502 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Jabil Circuit by 7.0% in the 1st quarter. Vanguard Group Inc. now owns 13,833,140 shares of the technology company’s stock worth $400,053,000 after purchasing an additional 901,400 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Jabil Circuit by 2.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 5,641,826 shares of the technology company’s stock worth $163,163,000 after purchasing an additional 112,486 shares in the last quarter. AJO LP boosted its position in shares of Jabil Circuit by 7,383.3% in the 2nd quarter. AJO LP now owns 3,512,607 shares of the technology company’s stock worth $102,533,000 after purchasing an additional 3,465,668 shares in the last quarter. Finally, LSV Asset Management boosted its position in shares of Jabil Circuit by 11.8% in the 2nd quarter. LSV Asset Management now owns 3,071,682 shares of the technology company’s stock worth $89,662,000 after purchasing an additional 323,845 shares in the last quarter. 93.05% of the stock is currently owned by hedge funds and other institutional investors.
Jabil Circuit, Inc. (NYSE JBL) opened at 29.79 on Friday. The company has a 50-day moving average price of $30.14 and a 200 day moving average price of $29.74. The company has a market capitalization of $5.34 billion, a PE ratio of 45.83 and a beta of 0.59. Jabil Circuit, Inc. has a 52-week low of $20.32 and a 52-week high of $31.70.
Jabil Circuit (NYSE:JBL) last posted its quarterly earnings data on Wednesday, September 27th. The technology company reported $0.64 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.61 by $0.03. Jabil Circuit had a net margin of 0.68% and a return on equity of 14.47%. The business had revenue of $5.02 billion during the quarter, compared to the consensus estimate of $4.86 billion. During the same period in the previous year, the firm posted $0.28 earnings per share. The business’s revenue for the quarter was up 13.4% compared to the same quarter last year. Equities research analysts anticipate that Jabil Circuit, Inc. will post $2.59 earnings per share for the current year.
Jabil Circuit declared that its board has initiated a share repurchase plan on Thursday, July 20th that allows the company to buyback $450.00 million in shares. This buyback authorization allows the technology company to repurchase up to 8.2% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its stock is undervalued.
JBL has been the topic of a number of analyst reports. J P Morgan Chase & Co reissued a “buy” rating and issued a $40.00 price target on shares of Jabil Circuit in a research report on Thursday, September 28th. ValuEngine cut Jabil Circuit from a “strong-buy” rating to a “buy” rating in a research report on Monday, October 2nd. BidaskClub cut Jabil Circuit from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 17th. Zacks Investment Research raised Jabil Circuit from a “hold” rating to a “strong-buy” rating and set a $34.00 price target on the stock in a research report on Monday, October 2nd. Finally, Bank of America Corporation cut Jabil Circuit from a “buy” rating to a “neutral” rating in a research report on Monday, September 25th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, nine have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Jabil Circuit presently has a consensus rating of “Hold” and a consensus price target of $30.50.
In other news, CEO Mark T. Mondello sold 30,000 shares of Jabil Circuit stock in a transaction on Friday, September 1st. The shares were sold at an average price of $31.32, for a total transaction of $939,600.00. Following the completion of the sale, the chief executive officer now directly owns 1,877,619 shares in the company, valued at $58,807,027.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders have sold 90,521 shares of company stock valued at $2,740,446 over the last quarter. Insiders own 2.90% of the company’s stock.
Jabil Circuit Profile
Jabil Inc, formerly Jabil Circuit, Inc, provides electronic manufacturing services and solutions throughout the world. The Company operates in two segments, which include Electronics Manufacturing Services (EMS) and Diversified Manufacturing Services (DMS). The Company’s EMS segment is focused on leveraging information technology (IT), supply chain design and engineering, technologies centered on core electronics, sharing of its large scale manufacturing infrastructure and the ability to serve a range of markets.
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