On August 4, Jabil Circuit rose 5.21% in pre-market trading, trading at $336.0/share, with turnover of $787,200.
The movement was driven by the company's previously announced board-authorized share repurchase program of up to $1.5 billion, combined with a broader AI hardware sector rebound. The buyback may be executed through open market purchases and other methods subject to market conditions.
Adding momentum, investment bank Stifel previously noted that the recent AI hardware selloff should be viewed as a rational valuation reset rather than a demand weakness signal, listing Jabil Circuit among names with significantly compressed valuations. Multiple Wall Street firms have raised price targets on the stock, with Goldman Sachs setting $482 and JPMorgan at $450, both maintaining bullish ratings.
Fundamentally, the company reported Q3 revenue of $8.75 billion, up 12% year-over-year, with non-GAAP EPS of $3.16 beating the $3.10 consensus. Full-year guidance was raised to $35 billion in revenue and $12.70 in EPS, while AI-related revenue is projected to grow 50% in fiscal 2027.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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