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Jacobs Wins Key Contract for India's Semiconductor Expansion
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Jacobs Solutions Inc. (J - Free Report) has been awarded a pivotal contract by CG Semi Private Limited to design a new Outsourced Semiconductor Assembly and Test (OSAT) facility in Sanand, Gujarat. This partnership marks a significant step in India’s growing semiconductor industry, with Jacobs serving as the engineering, procurement, and construction services partner for the Mini Line, and the engineering partner for the Main Line of the facility.
Jacobs’ Strategic Role in the Semiconductor Boom
The new facility, spanning over 28 acres, aims to support industries such as automotive, consumer electronics, industrial, and 5G, by manufacturing advanced and legacy semiconductor packages. Jacobs’ involvement will ensure the delivery of a world-class OSAT facility, crucial for India’s ambitions in the global semiconductor market.
Jacobs ranked No.1 by Engineering News-Record in Semiconductors, Manufacturing, and Electronic Assembly, brings extensive experience from similar projects across the United States, Europe and Asia. The company's role in this project reflects its ability to deliver innovative solutions, helping CG Semi strengthen its semiconductor presence in the region.
A Strategic Move for Jacobs
This contract aligns well with Jacobs’ long-term goals in India. The company has previously worked on major projects in the country, including urban water management, and its participation in building Biocon Biologics' largest monoclonal antibodies facility.
Jacobs' expertise and track record will be instrumental in ensuring the success of CG Semi’s OSAT facility. As India emerges as a key player in the semiconductor industry, this partnership further cements Jacobs’ role as a leader in the sector, positioning the company for future growth and expansion in the region.
Jacobs’ involvement in the project not only boosts its presence in India's growing semiconductor market but also highlights its global leadership in engineering and technological solutions.
Jacobs’ Share Price Performance
Image Source: Zacks Investment Research
J’s shares have gained 6.7% year to date, outperforming the Zacks Technology Services industry’s 33.5% growth. The company’s prospects are marred by increased costs and higher restructuring & other charges. Jacobs unveiled that in the first nine months of fiscal 2024, the direct cost of contracts increased 5.1% year over year due to the ongoing inflationary pressures of labor, materials and other related expenses. Also, an increase in other department spends and personnel costs, and unfavorable foreign currency translation are added headwinds.
Yet, the company’s prospects are linked to the strong global trends in infrastructure modernization, energy transition and national security, and a potential super-cycle in global supply-chain investments.
J’s Zacks Rank & Key Picks
Jacobs currently carries a Zacks Rank #3 (Hold).
Here are some better-ranked stocks from the Business Services sector.
The Zacks Consensus Estimate for SEZL’s 2024 sales and earnings per share (EPS) indicates growth of 38.6% and 436.8%, respectively, from the year-ago period’s levels. SEZL shares have gained 776% year to date.
DocuSign, Inc. (DOCU - Free Report) currently sports a Zacks Rank of 1. DOCU has a trailing four-quarter earnings surprise of 18.3%, on average.
The Zacks Consensus Estimate for DOCU’s 2024 sales and EPS indicates growth of 6.5% and 15.8%, respectively, from the year-ago period’s levels. DOCU’s shares have gained 15.9% year to date.
Duolingo, Inc. (DUOL - Free Report) presently carries a Zacks Rank of 2 (Buy). DUOL delivered a trailing four-quarter earnings surprise of 92.1%, on average. DUOL shares have gained 27.7% year to date.
The consensus estimate for DUOL’s 2024 sales and EPS indicates growth of 38.6% and 434.3%, respectively, from the prior-year levels.
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Jacobs Wins Key Contract for India's Semiconductor Expansion
Jacobs Solutions Inc. (J - Free Report) has been awarded a pivotal contract by CG Semi Private Limited to design a new Outsourced Semiconductor Assembly and Test (OSAT) facility in Sanand, Gujarat. This partnership marks a significant step in India’s growing semiconductor industry, with Jacobs serving as the engineering, procurement, and construction services partner for the Mini Line, and the engineering partner for the Main Line of the facility.
Jacobs’ Strategic Role in the Semiconductor Boom
The new facility, spanning over 28 acres, aims to support industries such as automotive, consumer electronics, industrial, and 5G, by manufacturing advanced and legacy semiconductor packages. Jacobs’ involvement will ensure the delivery of a world-class OSAT facility, crucial for India’s ambitions in the global semiconductor market.
Jacobs ranked No.1 by Engineering News-Record in Semiconductors, Manufacturing, and Electronic Assembly, brings extensive experience from similar projects across the United States, Europe and Asia. The company's role in this project reflects its ability to deliver innovative solutions, helping CG Semi strengthen its semiconductor presence in the region.
A Strategic Move for Jacobs
This contract aligns well with Jacobs’ long-term goals in India. The company has previously worked on major projects in the country, including urban water management, and its participation in building Biocon Biologics' largest monoclonal antibodies facility.
Jacobs' expertise and track record will be instrumental in ensuring the success of CG Semi’s OSAT facility. As India emerges as a key player in the semiconductor industry, this partnership further cements Jacobs’ role as a leader in the sector, positioning the company for future growth and expansion in the region.
Jacobs’ involvement in the project not only boosts its presence in India's growing semiconductor market but also highlights its global leadership in engineering and technological solutions.
Jacobs’ Share Price Performance
Image Source: Zacks Investment Research
J’s shares have gained 6.7% year to date, outperforming the Zacks Technology Services industry’s 33.5% growth. The company’s prospects are marred by increased costs and higher restructuring & other charges. Jacobs unveiled that in the first nine months of fiscal 2024, the direct cost of contracts increased 5.1% year over year due to the ongoing inflationary pressures of labor, materials and other related expenses. Also, an increase in other department spends and personnel costs, and unfavorable foreign currency translation are added headwinds.
Yet, the company’s prospects are linked to the strong global trends in infrastructure modernization, energy transition and national security, and a potential super-cycle in global supply-chain investments.
J’s Zacks Rank & Key Picks
Jacobs currently carries a Zacks Rank #3 (Hold).
Here are some better-ranked stocks from the Business Services sector.
Sezzle, Inc. (SEZL - Free Report) currently sports a Zacks Rank of 1 (Strong Buy). SEZL has a trailing four-quarter earnings surprise of 158.3%, on average. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for SEZL’s 2024 sales and earnings per share (EPS) indicates growth of 38.6% and 436.8%, respectively, from the year-ago period’s levels. SEZL shares have gained 776% year to date.
DocuSign, Inc. (DOCU - Free Report) currently sports a Zacks Rank of 1. DOCU has a trailing four-quarter earnings surprise of 18.3%, on average.
The Zacks Consensus Estimate for DOCU’s 2024 sales and EPS indicates growth of 6.5% and 15.8%, respectively, from the year-ago period’s levels. DOCU’s shares have gained 15.9% year to date.
Duolingo, Inc. (DUOL - Free Report) presently carries a Zacks Rank of 2 (Buy). DUOL delivered a trailing four-quarter earnings surprise of 92.1%, on average. DUOL shares have gained 27.7% year to date.
The consensus estimate for DUOL’s 2024 sales and EPS indicates growth of 38.6% and 434.3%, respectively, from the prior-year levels.