Fox Advisors:
Unparalleled Expertise
The team at Fox Advisors strives to understand and articulate emerging and established secular trends related to a wide range of electronic component applications, automotive technologies, Transportation-as-a-Service (TaaS) and other shared networks plus storage products in order to aid our clients in their investment process. Our approach leverages bottoms-up supply chain analysis, deep-rooted corporate connections, and insights derived from industry trade shows and regulatory updates to develop consistent, detailed, opinionated research that our clients trust and rely on.
February 2, 2023
APTV: Lots of 2023 EPS Puts and Takes to Consider
We adjust our 2023E EPS for Aptiv (APTV; $118.68; E/W) from $3.75 to $4.35 following a “mixed bag” of Q4 results and after the company introduced 2023E EPS targets of $4.00-$4.50 (vs. consensus of $4.58). From…
February 2, 2023
BHE: Semi-Cap Risks Come to Forefront
Benchmark Electronics (BHE; $28.66; O/P) produced solid Q4 EPS despite late quarter weakening in higher margin semi-cap equipment program demand (25% of 2022 sales), which is consistent with recent comments from other EMS providers, such…
February 2, 2023
APTV: First Look at Q4 Results and Outlook
Aptiv (APTV; $114.75; E/W) reported adjusted Q4 EPS of $1.27, which was ahead of our $1.21 and the Street’s $1.20 on sales of $4,640mm (vs. our $4,301mm and the Street’s $4,437mm). However, as per the…
February 2, 2023
FLEX: Nextracker Files IPO Range
Last night, Flex’s (FLEX; $23.78; O/P) Nextracker subsidiary filed an amended S-1 as part of plans for its IPO and Nasdaq listing under the symbol NXT. The filing disclosed FLEX plans to issue 23.26mm shares…
