By otakuyassine3@gmail.com 
TE Connectivity Ltd. (NYSE:TEL – Get Free Report) saw a large decrease in short interest during the month of January. As of January 15th, there was short interest totalling 3,280,000 shares, a decrease of 14.8% from the December 31st total of 3,850,000 shares. Currently, 1.1% of the company’s stock are short sold. Based on an average daily volume of 1,600,000 shares, the short-interest ratio is presently 2.1 days.
Wall Street Analyst Weigh In
Several research analysts have commented on TEL shares. Hsbc Global Res raised TE Connectivity from a “moderate sell” rating to a “hold” rating in a report on Thursday, January 23rd. Robert W. Baird boosted their target price on shares of TE Connectivity from $162.00 to $168.00 and gave the company an “outperform” rating in a report on Thursday, January 23rd. Wells Fargo & Company increased their target price on TE Connectivity from $151.00 to $155.00 and gave the company an “equal weight” rating in a research note on Thursday, January 23rd. StockNews.com upgraded shares of TE Connectivity from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, December 18th. Finally, Citigroup increased their target price on shares of TE Connectivity from $160.00 to $165.00 and gave the stock a “neutral” rating in a report on Wednesday, January 22nd. Seven analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $167.00.
Check Out Our Latest Research Report on TEL
TE Connectivity Stock Performance
Shares of NYSE TEL traded down $2.80 during midday trading on Monday, hitting $145.17. 1,487,013 shares of the stock traded hands, compared to its average volume of 1,741,682. TE Connectivity has a one year low of $137.61 and a one year high of $159.98. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.10 and a current ratio of 1.68. The firm has a market capitalization of $43.31 billion, a P/E ratio of 23.19, a PEG ratio of 2.03 and a beta of 1.32. The firm has a 50-day moving average of $147.58 and a two-hundred day moving average of $148.57.
TE Connectivity (NYSE:TEL – Get Free Report) last issued its quarterly earnings data on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.89 by $0.06. The company had revenue of $3.84 billion for the quarter, compared to analyst estimates of $3.92 billion. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. TE Connectivity’s revenue was up .1% compared to the same quarter last year. During the same period last year, the company posted $1.84 earnings per share. On average, equities analysts forecast that TE Connectivity will post 7.96 EPS for the current fiscal year.
TE Connectivity announced that its Board of Directors has approved a stock buyback program on Wednesday, October 30th that authorizes the company to buyback $2.50 billion in outstanding shares. This buyback authorization authorizes the electronics maker to purchase up to 5.4% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.
Insiders Place Their Bets
In other TE Connectivity news, insider Shadrak W. Kroeger sold 3,889 shares of TE Connectivity stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $151.13, for a total transaction of $587,744.57. Following the transaction, the insider now directly owns 25,976 shares in the company, valued at approximately $3,925,752.88. The trade was a 13.02 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.90% of the company’s stock.
Hedge Funds Weigh In On TE Connectivity
A number of institutional investors have recently modified their holdings of the company. Pinnacle Bancorp Inc. acquired a new stake in shares of TE Connectivity during the fourth quarter worth $26,000. Armstrong Advisory Group Inc. raised its position in TE Connectivity by 208.3% during the third quarter. Armstrong Advisory Group Inc. now owns 222 shares of the electronics maker’s stock valued at $34,000 after acquiring an additional 150 shares in the last quarter. Wolff Wiese Magana LLC raised its position in shares of TE Connectivity by 2,450.0% in the third quarter. Wolff Wiese Magana LLC now owns 255 shares of the electronics maker’s stock valued at $39,000 after purchasing an additional 245 shares during the period. Golden State Wealth Management LLC acquired a new stake in shares of TE Connectivity in the fourth quarter worth $44,000. Finally, Hilltop National Bank acquired a new stake in TE Connectivity during the fourth quarter worth $55,000. Institutional investors and hedge funds own 91.43% of the company’s stock.
TE Connectivity Company Profile
TE Connectivity Ltd., together with its subsidiaries, manufactures and sells connectivity and sensor solutions in Europe, the Middle East, Africa, the AsiaPacific, and the Americas. The company operates through three segments: Transportation Solutions, Industrial Solutions, and Communications Solutions.
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