Palouse Capital Management buys $4,704,009 stake in Jabil Circuit (JBL)

Jabil Circuit (JBL) : Palouse Capital Management scooped up 46,513 additional shares in Jabil Circuit during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Jul 26, 2016. The investment management firm now holds a total of 229,017 shares of Jabil Circuit which is valued at $4,704,009.Jabil Circuit makes up approximately 1.83% of Palouse Capital Management’s portfolio.

Other Hedge Funds, Including , Strs Ohio sold out all of its stake in JBL during the most recent quarter. The investment firm sold 2,095,000 shares of JBL which is valued $43,031,300.Louisiana State Employees Retirement System reduced its stake in JBL by selling 2,100 shares or 3.97% in the most recent quarter. The Hedge Fund company now holds 50,800 shares of JBL which is valued at $1,043,432. Jabil Circuit makes up approx 0.05% of Louisiana State Employees Retirement System’s portfolio.Parkwood reduced its stake in JBL by selling 2,929 shares or 11.59% in the most recent quarter. The Hedge Fund company now holds 22,339 shares of JBL which is valued at $455,045. Jabil Circuit makes up approx 0.07% of Parkwood’s portfolio. Farmers Merchants Investments Inc sold out all of its stake in JBL during the most recent quarter. The investment firm sold 273 shares of JBL which is valued $5,637.Capital Insight Partners boosted its stake in JBL in the latest quarter, The investment management firm added 3,083 additional shares and now holds a total of 76,007 shares of Jabil Circuit which is valued at $1,425,891. Jabil Circuit makes up approx 1.34% of Capital Insight Partners’s portfolio.

Jabil Circuit closed down -0.13 points or -0.63% at $20.35 with 10,29,642 shares getting traded on Friday. Post opening the session at $20.41, the shares hit an intraday low of $20.21 and an intraday high of $20.5 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

On the company’s financial health, Jabil Circuit reported $0.17 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Jun 15, 2016. Analyst had a consensus of $0.15. The company had revenue of $4310.80 million for the quarter, compared to analysts expectations of $4180.45 million. The company’s revenue was down -1.1 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.49 EPS.

Many Wall Street Analysts have commented on Jabil Circuit. Company shares were Upgraded by Raymond James on Jul 15, 2016 to ” Strong Buy”, Firm has raised the Price Target to $ 26 from a previous price target of $21 .Shares were Reiterated by RBC Capital Mkts on Jun 16, 2016 to “Sector Perform” and Lowered the Price Target to $ 20 from a previous price target of $21 .Shares were Reiterated by Deutsche Bank on Jun 16, 2016 to “Hold” and Lowered the Price Target to $ 18 from a previous price target of $21 .

Jabil Circuit Inc. provides electronic manufacturing services and solutions. The Company provides electronic design production and product management services to companies in the aerospace automotive computing defense digital home energy healthcare industrial instrumentation lifestyles mobility mold networking packaging peripherals storage telecommunications and wearable technology industries. The Company’s operating segments include Electronics Manufacturing Services (EMS) and Diversified Manufacturing Services (DMS). The EMS segment is focused around leveraging information technology (IT) supply chain design and engineering technologies centered on core electronics. The DMS segment is focused on providing engineering solutions heavy participation in consumer markets access to higher growth markets and a focus on material sciences and technologies.

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