Jabil’s CIO Yap May Yee sells $501,750 in stock
ST. PETERSBURG, FL—Jabil Inc. (NYSE:JBL), a $17.26 billion market cap electronic equipment manufacturer, recently disclosed that Yap May Yee, the company’s Senior Vice President and Chief Information Officer, sold a portion of her shares in the company. The stock has shown remarkable strength, gaining over 40% in the past six months and trading near its 52-week high of $156.94. According to a Form 4 filing with the Securities and Exchange Commission, Yap May Yee sold a total of 3,335 shares of Jabil common stock on January 3rd. The shares were sold at a price of $150.45 each, totaling approximately $501,750.
Following this transaction, Yap May Yee retains ownership of 32,254 shares in the company. The sale was conducted directly and was not part of any equity swap arrangement. This move comes as Jabil continues its operations in the printed circuit board sector, with its headquarters based in St. Petersburg, Florida.
In other recent news, Jabil, a manufacturing services firm, has seen significant developments. The company issued a warrant to Amazon (NASDAQ:), allowing the e-commerce titan to acquire up to 1.16 million shares at an exercise price of $137.77 per share. This move is in line with Jabil’s strategic partnerships and reflects its business relationships with major industry players.
In terms of financial performance, Jabil has reported robust results with fiscal first quarter sales and earnings per share (EPS) exceeding projections. The company’s sales surpassed expectations by $390 million, and EPS exceeded by $0.13. This strong performance led Stifel analyst Matthew Sheerin to increase Jabil’s stock price target to $160 from $150, while maintaining a Buy rating on the shares.
Jabil also reported year-over-year sales growth of approximately 1% due to its strong performance in cloud and data center infrastructure, and a rebound in the semiconductor capital equipment sector. The company has updated its fiscal year 2025 outlook for its Cloud and Data Center Infrastructure segment, increasing it by $400 million to $5.5 billion, mainly due to additional program wins with Amazon Web Services.
Furthermore, Jabil has modestly raised its overall fiscal year 2025 sales and EPS guidance, despite challenges in the electric vehicles and renewables sectors. The company’s strong cash flow generation was also highlighted, with free cash flow reaching $226 million, marking a 31% year-over-year increase. These are among the recent developments that have put Jabil in the spotlight.
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