APH: Adds to Antenna Skill Set

PCTEL (PCTI; $4.66; NR) announced after the close on Friday (10/13) it reached a definitive agreement to be acquired by Amphenol (APH; $81.90; E/W) in an all-cash transaction valued at a total of $139.7mm. Amphenol…

A Slow Cyclical Recovery Still Likely Afoot

We expect Q3 EPS season to provide support for the idea that a cyclical bottoming process is generally taking shape across the tech supply chain, although we continue to warn that the slope of any…

BDC: Story Changes Quickly; Reduce to Equal-Weight

We are reducing our rating on the shares of Belden (BDC; $95.27) from Outperform to Equal-Weight after management negatively pre-announced Q3 results last night and warned about its Q4E outlook. Our rating change reflects the…

CHPT: Announces Dilutive Equity Raise

This morning, ChargePoint (CHPT; $4.06; E/W) announced it raised $175mm through its ATM equity facility with the issuance of 41.4mm shares of its common stock. More specifically, CHPT reached a commitment from a consortium of…

UBER: Stock Poised for Another Leg Up

We see recent price consolidation in the shares of Uber Technologies (UBER; $46.63; O/P) as an attractive entry point ahead of its Q3 print in a few weeks. We think this is even the case…

JBL: Meetings Highlight Expanding High Mix Opportunities

We reiterate our Outperform on the shares of Jabil (JBL; $130.65) and raise our target from $150 to $160 after hosting meetings for management in New York and Boston last week. In attendance from Jabil…

DELL: Meeting Highlights Mix Opportunities

Last Thursday (10/5), we attended Dell Technologies’ (DELL; $66.41; E/W) Securities Analyst Meeting in New York, which included presentations from CEO Michael Dell, CFO Yvonne McGill, COO Jeff Clarke, along with Arthur Lewis (President, Infrastructure…

APH: Adds Electrification Capabilities

We recently learned that Amphenol (APH; $83.37; E/W) acquired privately held and U.S. based Connor Manufacturing Services as per a LinkedIn post by Connor on 9/28. Connor, which boasts a 110-year history, produces custom precision…

PSNY: Reiterates 2023E Targets with Q3E Delivery Update

We are adjusting our Q3E and Q4E modeling for Polestar (PSNY; $2.66) after the company disclosed last Thursday (10/5) that its Q3 vehicle deliveries were approximately 13,900 (+50% YoY) and that it believes the company…

GLW: The Long and Short of It

We think the recent 16% decline in the shares of Corning (GLW; $30.02; E/W), to basically around multi-year lows, represents an interesting “battlefront” for bulls and bears. We think this is especially the case when…

HYZN: Broadens Out IP Protection

Hyzon Motors (HYZN; $1.20) announced last night in an SEC filing and subsequent press release this morning that it expanded its intellectual property (IP) agreement with affiliates of Horizon, an advanced hydrogen fuel cell company…

COMM: Finally Exits Home Networks

This morning, Vantiva (VANTI.FR; €0.18; NR) announced it reached an agreement with CommScope (COMM; $3.45; E/W) to purchase its Home Networks business in exchange for: (1) a 25% stake in Vantiva on a fully dilutive…

HYZN: More Support for Commercial Ambitions

We think recent news flow further highlights the intrinsic value of Hyzon Motors’ (HYZN; $1.21) proprietary fuel cell system yet to be recognized in the company’s current valuation. Most notably, last Thursday (9/28), Nikola (NKLA;…

ST: Driving Towards Another Electrification Inflection

The shares of Sensata (ST; $38.29; O/P) have reacted positively to Wednesday’s Investor Event in New York, rising ~6% since the meeting started, although this is still in the context of a recent ~20% decline…

APH: Meeting Highlights Sustainable Advantages

Earlier this week, we had the opportunity to catch up with Amphenol’s (APH; $84.08; E/W) CEO Adam Norwitt, CFO Craig Lampo, and Sherri Scribner, VP, Strategy, and IR to discuss some of our “top of…