We reiterate our Outperform and $130 target on the shares of Seagate (STX; $103.95; O/P) after hosting an investor call on Friday (1/24) for CFO Gianluca Romano and Shanye Hudson, SVP, IR and Treasury to…
We reiterate our Outperform on the shares of Corning (GLW; $53.98; O/P) ahead of the company’s Q4 results and outlook, which are scheduled for Wednesday (1/29 before market). We assume GLW produces some moderate upside…
We raise our F2025/F2026E (Sept) EPS from $6.60/$7.25 to $6.90/$7.55 for Plexus (PLXS; $153.30; E/W) after the company produced some solid FQ1 (Dec) operating results while offering up FQ2E (Mar) guidance that was in line…
We raise our 2025E EPS for Amphenol (APH; $77.84; E/W) from $2.07 to $2.20 (+17% YoY vs. +25% in 2024) after the company again produced some healthy Q4 EPS upside with Q1E EPS guidance that…
We reiterate our Outperform on the shares of TE Connectivity (TEL; $155.09; O/P) after the company produced FQ1 (Dec) results and guidance that ranged from in line to better than we expected if we exclude…
Plexus (PLXS; $170.49; E/W) reported FQ1 (Dec) non-GAAP EPS of $1.73, which beat our $1.60 and the Street’s $1.59 despite somewhat lower-than-expected sales ($976mm vs. our $988mm and the Street’s $982mm) that resulted in as…
This morning, Aptiv (APTV; $62.72; E/W) announced plans to separate its Electrical Distribution Systems (EDS) business from the rest of the company (RemainCo) and create two independent, publicly traded companies in a tax-free transaction. This…
Amphenol (APH; $74.98; E/W) reported Q4 non-GAAP EPS of $0.55, which beat our consensus matching $0.50 led by better than expected sales ($4,318mm vs. our $4,020mm and the Street’s $4,061mm). As per the table below,…
We reiterate our Outperform and $130 target on the shares of Seagate (STX; $101.25) after it reported a better-than-expected FQ2 (Dec) EPS, which importantly was driven by much better-than-expected gross margins. STX also provided FQ3E…
The risk/reward looks favorable to us around the shares of Sanmina (SANM; $84.18; O/P) into its FQ1 (Dec) results and guidance, scheduled for Monday (1/27 after market). Specifically, we look for no worse than as…
We are raising our target on the shares of Celestica (CLS; $118.10; O/P) from $100 to $135 ahead of its Q4 results and guidance, which are scheduled for Thursday, January 30th (before market). The stock…
TE Connectivity (TEL; $148.30; O/P) reported FQ1 (Dec) non-GAAP EPS of $1.95, which was ahead of our $1.88 and the Street’s $1.89 despite somewhat lower-than-expected sales ($3,836mm vs. our $3,900mm and consensus of $3,905mm). By…
Seagate (STX; $101.25; O/P) reported FQ2 (Dec) non-GAAP EPS of $2.03, which beat our $1.87 and the Street’s $1.88 on the back of much better-than-expected gross margins as sales of $2,325mm compared to our $2,313mm…
This morning, the European Automobile Manufacturers Association released car registration data from the region for the month of December, which exceeded typical seasonal trends, including ongoing healthy trends of hybrid electric vehicle registrations. Specifically, European…
We reiterate our Outperform on the shares of Flex (FLEX; $42.72) ahead of its FQ3 (Dec) print and guidance, scheduled for Wednesday, January 29th (before market), which we think can come with some operating margin…