All Reports

We reiterate our Outperform and $50 target on Flex (FLEX; $41.51) as we bump up our F2025/F2026E (Mar) EPS from $2.45/$2.75 to $2.62/$2.85 after the company produced a healthy FQ3 (Dec) “beat and raise” that…

Celestica (CLS; $100.49; O/P) reported Q4 non-IFRS EPS of $1.11, which beat our $1.04 and the Street’s $1.05 on sales of $2,546mm (vs. our $2,500mm and the Street’s $2,530mm). Recall, CLS’ Q4 outlook called for…

Western Digital (WDC; $62.80; O/P) reported FQ2 (Dec) non-GAAP EPS of $1.77, which compared to our $1.75 and the Street’s $1.79. Recall, WDC pre-announced earlier this month it expected FQ2 sales to be at the…

Flex (FLEX; $40.59; O/P) reported FQ3 (Dec) adjusted EPS of $0.77, which was well ahead of our consensus matching $0.63, on sales of $6,556mm that were also comfortably beyond our $6,200mm and the Street’s $6,206mm….

Corning (GLW; $51.23; O/P) reported Q4 “core” EPS of $0.57, which was modestly ahead of our consensus matching $0.56 on better-than-expected core sales ($3,874mm vs. our $3,755mm and the Street’s $3,764mm). Recall, GLW’s Q4 outlook…

We reiterate our Outperform and $65 target on the shares of Nextracker (NXT; $39.62), while raising our F2025/F2026E (Mar) EPS from $3.30/$3.20 to $3.95/$3.60, after the company delivered another healthy “beat and raise” on its…

Nextracker (NXT; $39.62; O/P) reported FQ3 (Dec) adjusted EPS of $1.03, which was handily ahead of our $0.55 and the Street’s $0.58 on sales of $679mm (-4% YoY) that were also comfortably higher than our…

We think Uber Technologies’ (UBER; $68.54; O/P) Q4 results and outlook, scheduled for next Wednesday, February 5th (before market), can at least live up to Street expectations on an organic basis (ex-currencies), given what we…

We bump up our F2025/F2026E (Sep) EPS for Sanmina (SANM; $78.51; O/P) from $5.80/$6.45 to $6.00/$6.65, which still leaves room to be conservative, after it posted an “across the board” FQ1 (Dec) earnings beat with…

Sanmina (SANM; $78.51; O/P) reported FQ1 (Dec) non-GAAP EPS of $1.44, which beat our $1.35 and the Street’s $1.36 on sales of $2,006mm that was also ahead of our $1,985mm and the Street’s $1,980mm. Recall,…

We expect Benchmark Electronics (BHE; $43.33; E/W) to produce solid Q4 results and outlook on Wednesday (1/29 after market), which should provide healthy support for current valuations, especially given the recent 16% decline in the…

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…