Needham Investment Management buys $9,430,100 stake in Jabil Circuit (JBL)

Jabil Circuit (JBL) : Needham Investment Management scooped up 7,500 additional shares in Jabil Circuit during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 452,500 shares of Jabil Circuit which is valued at $9,430,100.Jabil Circuit makes up approximately 2.48% of Needham Investment Management’s portfolio.

Other Hedge Funds, Including , Parallax Volatility Advisers reduced its stake in JBL by selling 10,961 shares or 59.39% in the most recent quarter. The Hedge Fund company now holds 7,494 shares of JBL which is valued at $156,175. Jabil Circuit makes up approx 0.01% of Parallax Volatility Advisers’s portfolio.Nuveen Asset Management reduced its stake in JBL by selling 3,900 shares or 0.79% in the most recent quarter. The Hedge Fund company now holds 490,054 shares of JBL which is valued at $10,212,725. Jabil Circuit makes up approx 0.06% of Nuveen Asset Management’s portfolio. Guardian Capital Lp sold out all of its stake in JBL during the most recent quarter. The investment firm sold 14,680 shares of JBL which is valued $305,931.Geode Capital Management boosted its stake in JBL in the latest quarter, The investment management firm added 43,313 additional shares and now holds a total of 1,199,107 shares of Jabil Circuit which is valued at $24,989,390. Jabil Circuit makes up approx 0.01% of Geode Capital Management’s portfolio.Buckhead Capital Management reduced its stake in JBL by selling 18,923 shares or 6.03% in the most recent quarter. The Hedge Fund company now holds 294,950 shares of JBL which is valued at $6,137,910. Jabil Circuit makes up approx 1.08% of Buckhead Capital Management’s portfolio.

Jabil Circuit opened for trading at $21.19 and hit $21.35 on the upside on Thursday, eventually ending the session at $21.29, with a gain of 0.47% or 0.1 points. The heightened volatility saw the trading volume jump to 12,65,735 shares. Company has a market cap of $4,068 M.

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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