All Reports

We are very much surprised that Aptiv’s (APTV; $82.39; O/P) Q4 results and outlook did not dispel the excessive “hand wringing” weighing on the stock in recent months, especially at 14X our latest 2024E EPS,…

Aptiv (APTV; $86.72; O/P) reported adjusted Q4 EPS of $1.40, which beat our $1.34 and the Street’s $1.33 on sales of $4,919mm (vs. our $5,018mm and the Street’s $5,067mm). As per the table below, operating…

This morning, Amphenol (APH; $102.78; E/W) announced it signed a definitive agreement to acquire Carlisle Companies’ (CSL; $320.38; NR) Interconnect Technologies business or CIT for $2.025B in cash, which makes the proposed transaction, the largest…

We adjust 2024E EPS for Corning (GLW; $33.30; E/W) from $2.00 to $1.95 after Q4 results lived up to expectations but Q1E guidance was on the disappointing side. GLW also “called the bottom” with its…

Corning (GLW; $31.15; E/W) reported Q4 “core” EPS of $0.39, which was in line with consensus and ahead of our $0.37 on slightly better than expected core sales ($3,272mm vs. our $3,255mm and the Street’s…

Yesterday (1/25), Hyzon Motors (HYZN; $0.75) announced it delivered four heavy-duty hydrogen fuel cell electric vehicles (FCEVs) to Performance Food Group (PFGC; $70.89; NR), which is a large U.S. based food distributor and supplier with…

We raise our rating on the shares of Mobileye Global (MBLY; $28.13) from Equal-Weight to Outperform. Our recent meeting with management at the Consumer Electronics Show (CES) along with yesterday’s Q4 call supported the idea…

Western Digital (WDC; $60.33; O/P) produced healthy upside to Street thinking with its FQ2 (Dec) results and outlook, which highlighted further supply discipline, incremental positives across most markets, including surprising growth in China, and solid…

Western Digital (WDC; $60.33; O/P) reported FQ2 (Dec) non-GAAP EPS losses of ($0.69) ex-“one time” net charges of $0.18 per share, which compares to our ($1.15) and the Street’s ($1.12). Sales of $3.03B were above…

Plexus (PLXS; $94.23; E/W) posted FQ1 (Dec) results in line with its recent negative pre-announcement (“Slow End to Quarter Leads to FQ1 Miss”; 1/17) as it fleshed out details behind the cut to prior sales,…

Seagate’s (STX; $89.17; E/W) FQ2 (Dec) results and outlook provided further confirmation for the idea that the company is now on a consistent recovery track, discussed below, per the expected improvement in key FQ2 metrics…

Amphenol (APH; $100.66; E/W) produced another Q4 “beat and meet”, albeit influenced by a surge in M&A during November and December as it acquired four companies with a combined ~$325mm in annual sales for $678mm….

We raise our rating on TE Connectivity (TEL; $143.63) from Equal-Weight to Outperform. We believe the stock is now breaking out of its trading range of the past two years on a path to new…

Seagate (STX; $89.17; E/W) reported FQ2 (Dec) non-GAAP EPS of a profit of $0.12, which comfortably beat our estimate of a ($0.03) loss and the Street’s ($0.06) on sales of $1,555mm (vs. our $1,582mm and…

Amphenol (APH; $101.25; E/W) reported Q4 non-GAAP EPS of $0.82, which beat our $0.76 and the Street’s $0.77 on sales of $3,328mm that were ahead of our $3,148mm and the Street’s $3,157mm. The company also…