Matthew Crowley, Executive Vice President of Global Business Units at Jabil Inc. (NYSE:JBL), recently sold 1,380 shares of the company's common stock. The shares were sold on October 18, 2024, at a price of $125.83 per share, totaling $173,645. Following this transaction, Crowley holds 18,568 shares directly.
In a separate transaction on October 16, 2024, Crowley disposed of 427 shares at $124.26 each for tax withholding purposes related to previously acquired stock, amounting to $53,059. After this transaction, Crowley retained ownership of 19,948 shares. These transactions reflect Crowley's ongoing management of his equity in the company.
In other recent news, Axiado Corporation and Jabil Inc. unveiled secure server platforms designed to enhance security for cloud and data center environments. The advanced AI-driven cybersecurity solutions are tailored to meet the needs of modern data centers. Additionally, Axiado's AX3000 and AX2000 Trusted Control/Compute Units (TCUs) are now available for purchase, further fortifying their commitment to data center security.
Jabil reported robust Q4 financial results for fiscal year 2024, with revenues hitting $7 billion. The company also completed a $2.5 billion share repurchase program and announced a new $1 billion buyback plan for fiscal year 2025. For the first quarter of fiscal year 2025, Jabil projects revenues between $6.3 billion and $6.9 billion, with core earnings per share estimated at $1.65 to $2.05.
Jabil has also acquired Mikros Technologies LLC, a move aimed at enhancing its data center solutions and addressing thermal management needs in sectors such as AI, energy storage, and electric vehicles. The acquisition is expected to provide Jabil with critical capabilities to support customers in managing intense thermal requirements of current and future products.
In line with its growth strategy, Jabil has restructured into three segments: Regulated Industries, Intelligent Infrastructure, and Connected Living & Digital Commerce. The company also divested its Mobility business for $2.2 billion, returning much of the proceeds to shareholders. These recent developments highlight Jabil's commitment to its growth strategy and returning value to shareholders.
InvestingPro Insights
As Matthew Crowley adjusts his equity position in Jabil Inc. (NYSE:JBL), investors might benefit from a closer look at the company's financial health and market performance. According to InvestingPro data, Jabil boasts a market capitalization of $14.32 billion, reflecting its substantial presence in the Electronic Equipment, Instruments & Components industry.
The company's P/E ratio of 11.12 suggests that it may be undervalued compared to its peers, which aligns with an InvestingPro Tip indicating that Jabil is trading at a low P/E ratio relative to its near-term earnings growth. This could be an attractive point for value-oriented investors.
Another InvestingPro Tip highlights that management has been aggressively buying back shares, which often signals confidence in the company's future prospects and can potentially boost shareholder value. This aggressive buyback strategy contributes to Jabil's high shareholder yield, another positive indicator for investors.
Despite these positive signals, it's worth noting that 5 analysts have revised their earnings downwards for the upcoming period, according to InvestingPro Tips. This information, coupled with the recent insider selling activity, may warrant closer scrutiny of Jabil's near-term financial outlook.
For investors seeking a more comprehensive analysis, InvestingPro offers 16 additional tips on Jabil, providing a deeper understanding of the company's financial health and market position.
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