Matthew Crowley, Executive Vice President of Global Business Units at Jabil Inc. (NYSE:JBL), recently sold 2,271 shares of the company's common stock. The shares were sold on October 22, 2024, at an average price of $123.54 per share, totaling approximately $280,551. Following this transaction, Crowley holds 15,564 shares directly.
In addition to the sale, Crowley disposed of shares in three separate transactions on October 19, 20, and 21, at a consistent price of $126.30 per share, as part of an arrangement to cover tax obligations. These transactions involved a total of 733 shares, valued at $92,577. After these transactions, Crowley's direct shareholding stands at 15,564 shares.
In other recent news, Axiado Corporation and Jabil Inc. have developed new server solutions aimed at enhancing security for cloud and data center environments. The AI-driven cybersecurity servers are designed to tackle demanding applications such as AI, FinTech, and large-scale cloud infrastructures. Axiado's AX3000 and AX2000 TCUs, alongside OCP DC-SCM 2.0 compliant SCM3002 and SCM3003, are currently available for purchase.
Jabil Inc. also reported Q4 revenues of $7 billion and announced a new $1 billion buyback plan for fiscal year 2025. The company's Q1 FY '25 revenue is projected to be between $6.3 billion and $6.9 billion, with core earnings per share estimated at $1.65 to $2.05. The full-year forecast anticipates $27 billion in revenue and core earnings per share of $8.65.
In a strategic move, Jabil acquired Mikros Technologies LLC to enhance its data center solutions and address thermal management needs in sectors like AI, energy storage, and electric vehicles. Furthermore, Jabil has reorganized into three segments: Regulated Industries, Intelligent Infrastructure, and Connected Living & Digital Commerce, and has divested its Mobility business for $2.2 billion. These recent developments highlight Jabil's commitment to its growth strategy and returning value to shareholders.
InvestingPro Insights
Adding context to Matthew Crowley's recent stock transactions, Jabil Inc. (NYSE:JBL) presents an interesting financial profile. According to InvestingPro data, the company's market capitalization stands at $14.11 billion, with a P/E ratio of 10.97, suggesting a potentially undervalued stock relative to earnings.
InvestingPro Tips highlight that Jabil has been aggressively buying back shares, indicating management's confidence in the company's value. This aligns with Crowley's decision to sell shares for tax obligations rather than general market transactions. Additionally, Jabil boasts a high shareholder yield, which could be attractive to investors looking for companies that return value to shareholders.
Despite these positive indicators, it's worth noting that 5 analysts have revised their earnings downwards for the upcoming period. This caution from analysts might explain why insiders like Crowley are making strategic stock moves.
Jabil's financial health appears robust, with the company operating with a moderate level of debt and maintaining dividend payments for 19 consecutive years. This stability could provide reassurance to investors in light of insider selling activities.
For those interested in a deeper dive into Jabil's financials and future prospects, InvestingPro offers 14 additional tips, providing a comprehensive view of the company's position in the Electronic Equipment, Instruments & Components industry.
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