All Reports


October 28, 2024

AMKR: First Look at Q3 Results and Outlook

By Steven Fox

Amkor Technology (AMKR; $29.53; E/W) reported Q3 EPS of $0.49, which compared to our $0.49 and the Street’s $0.50 on sales of $1,862mm (vs. our $1,838mm and the Street’s $1,840mm). Recall, AMKR’s Q3 guidance called…

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October 28, 2024

ST: Some Wild Cards to Consider into Earnings

By Steven Fox

We assume Sensata’s (ST; $35.83; E/W) Q3 results and guidance are not too far off our forecasts when it reports next Monday (11/4 after market). Although after five consecutive quarters of cuts to our 2024E…

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October 25, 2024

An Autonomous Overhang on Rideshare in Retreat?

By Steven Fox

We think the muted reaction in the shares of Uber Technologies (UBER; $77.79; O/P) and Lyft (LYFT; $13.81; O/P) over the past 36 hours to some important news on the “autonomous front” from Tesla (TSLA;…

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October 25, 2024

AMKR: Will Inline Be Good Enough?

By Steven Fox

We expect Amkor Technology (AMKR; $30.00; E/W) to produce Q3 results and an outlook that basically line up with Street expectations when it reports on Monday (10/28 after market) since our checks suggest signs of…

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October 25, 2024

WDC: Product Story Gains More Momentum

By Steven Fox

We reiterate our Outperform and $90 target on the shares of Western Digital (WDC; $66.32) after FQ1 (Sept) results and guidance more than supported further success on a what we think can be a powerful…

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October 24, 2024

WDC: First Look at FQ1 (Sep) Results and Outlook

By Steven Fox

Western Digital (WDC; $66.32; O/P) reported FQ1 (Sep) non-GAAP EPS of $1.78, which was ahead of our $1.72 and the Street’s $1.71. Recall, WDC’s FQ1 guidance called for sales and EPS of $4.0-4.2B and $1.55-1.85,…

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October 24, 2024

PLXS: Healthy FQ4 Beat on Pulled In Revenue

By Steven Fox

We adjust our F2025E (Sep) EPS for Plexus (PLXS; $145.42; E/W) from $6.50 to $6.60 (+15% YoY vs. -11% in F2024) after a healthy FQ4 (Sep) beat, predominantly driven by better-than-expected quarter-end production activity that…

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October 24, 2024

CLS: Provides More Promising Proof Points

By Steven Fox

We reiterate our Outperform and raise our target from $75 to $80 on the shares of Celestica (CLS; $66.32) after the company produced a healthy Q3 “beat and raise” and provided a range of proof…

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October 24, 2024

APH: Execution Machine Keeps Humming

By Steven Fox

We are again bumping up our 2024/2025E EPS for Amphenol (APH; $68.47; E/W) from $1.77/$1.97 to $1.84/$2.07, mainly for a healthy Q3 EPS beat ($0.50 vs. our consensus matching $0.45), which was led again by…

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October 23, 2024

PLXS: First Look at FQ4 (Sep) Results and Outlook

By Steven Fox

Plexus (PLXS; $135.57; E/W) reported FQ4 (Sep) non-GAAP EPS of $1.85, which was well ahead of our $1.58 and the Street’s $1.55, albeit including $0.12 per share of more favorable non-operating items than was considered…

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October 23, 2024

CLS: First Look at Q3 Results and Outlook

By Steven Fox

Celestica (CLS; $57.47; O/P) reported Q3 non-IFRS EPS of $1.04, which beat our $0.91 and the Street’s $0.93 on sales of $2,500mm (vs. our $2,400mm and the Street’s $2,414mm). Recall, CLS’ Q3 outlook called for…

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October 23, 2024

STX: A New HDD World Order Takes Hold; Raise to Outperform

By Steven Fox

We raise our rating on the shares of Seagate (STX; $104.55) from Equal-Weight to Outperform after the company provided its most convincing evidence to date for the idea that it can continue to benefit from…

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October 23, 2024

APH: First Look at Q3 Results and Outlook

By Steven Fox

Amphenol (APH; $66.85; E/W) reported Q3 non-GAAP EPS of $0.50, which beat our consensus matching $0.45 led by better than expected sales ($4,039mm vs. our $3,800mm and the Street’s $3,807mm). As per the table below,…

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October 22, 2024

STX: First Look at FQ1 (Sep) Results and Outlook

By Steven Fox

Seagate (STX; $112.64; E/W) reported FQ1 (Sep) non-GAAP EPS of 1.58, which compared to our $1.60 and the Street’s relatively stale $1.48 since management noted in early-September that EPS would likely be at the high…

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October 22, 2024

UBER: Positioned Well to Report More Global Growth

By Steven Fox

We think Uber Technologies (UBER; $80.41; O/P) Q3 results and guidance next Thursday (10/31 before market) can at least live up to Street expectations, even after considering some potential transitory effects on results from recent…

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