Jacobs Wins Key Contract for India's Semiconductor Expansion

Jacobs Solutions Inc. J 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 BoomThe 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 JacobsThis 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 PerformanceImage Source: Zacks Investment ResearchJ’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 PicksJacobs currently carries a Zacks Rank #3 (Hold).Here are some better-ranked stocks from the Business Services sector.Sezzle, Inc. SEZL 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 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 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.7 Best Stocks for the Next 30 DaysJust released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops."Since 1988, the full list has beaten the market more than 2X over with an average gain of +23.7% per year. So be sure to give these hand picked 7 your immediate attention. See them now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Docusign Inc. (DOCU): Free Stock Analysis Report Jacobs Solutions Inc. (J): Free Stock Analysis Report Duolingo, Inc. (DUOL): Free Stock Analysis Report Sezzle Inc. (SEZL): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks