This morning, the U.S. Department of Commerce announced that it signed a non-binding preliminary memorandum of terms with Corning’s (GLW; $47.08; O/P) Hemlock Semiconductor business (9% of 2024E sales) to provide up to $325mm in…
We have badly missed a recent breakout in the shares of Plexus (PLXS; $136.69; E/W) since its most recent bottom in mid-June (e.g., +34% since 6/11 vs. +21% over the prior two years), which especially…
The shares of Corning (GLW; $46.62; O/P) have rebounded 23% since early-August, exceeding prior highs of May 2021 to levels last seen in 2000, which of course “raises the bar” for the stock into its…
We reiterate our Outperform on the shares of TE Connectivity (TEL; $148.97; O/P) ahead of its FQ4 (Sept) results and outlook, scheduled for October 30th (before market). We note the stock is still only at…
We think Amphenol (APH; $67.46; E/W) delivers another in a recent series of “beat and meets” with its Q3 results and Q4E guide on Wednesday (10/23 before market). We model Q3E sales, operating margins, and…
Yesterday (10/17), Schneider Electric (SU.FR; €245.65; NR) announced an agreement to acquire a 75% interest in Motivair Corporation, a privately held company that specializes in liquid cooling and advanced thermal management, for $850mm. We think…
We think Benchmark Electronics (BHE; $44.99; E/W) produces Q3 results and guidance on October 30th (after market) that provide solid support for current valuation with upside potential mainly tied to recent bookings and updated production…
The shares of Lucid Group (LCID; $2.72; E/W) are down 17% today after it completed a major equity capital raise that included another investment by its majority stockholder and affiliate of the Public Investment Fund…
This morning, Flex (FLEX; $34.70; O/P) announced plans to acquire, for $325mm in cash, privately held Crown Technical Systems, which produces power distribution and protection systems used in data centers, as well as by utilities…
The bar has obviously been raised for Celestica (CLS; $58.42; O/P) into its Q3 results and outlook, scheduled for next Wednesday (10/23 after market), given how the shares have rebounded 37% from recent lows set…
We believe FQ2 (Sep) results and outlook from Flex (FLEX; $34.33; O/P), scheduled for October 30th (before market), should further highlight its ability to continue to steadily improve margins and cash flows even in the…
We expect Western Digital’s (WDC; $66.95; O/P) FQ1 (Sep) results and outlook to at least live up to our slightly above consensus expectations when it reports next Thursday (10/24 after market), led by its HDD…
For the second quarter in a row, Seagate (STX; $111.79; E/W), reporting FQ1 (Sept) results and outlook next Tuesday (10/22 after market), guided up with a month to go in the quarter with the news…
This morning, Dell Technologies (DELL; $127.66; O/P) announced several new integrated rack-scalable system, server, storage and data management solutions as part of its Dell AI Factory initiative. Recall, Dell’s AI factory solutions are aimed at…
This morning, Jabil (JBL; $125.80; O/P) announced that it is expanding its white box server portfolio with the addition of two new high-performance servers that feature Advanced Micro Devices’ (AMD; $165.27; NR) fifth-generation EPYC and…