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T.D. Synnex Corp (NYSE:SNX) stock reached an all-time high of 145.25 USD, marking a significant milestone for the company. According to InvestingPro analysis, the company currently trades at an attractive P/E ratio of 16.7x and has maintained dividend payments for 12 consecutive years. Over the past year, the stock has experienced a notable increase, with a 1-year change of 24.68%. This positive trajectory underscores the company’s robust performance and investor confidence, supported by management’s aggressive share buybacks and a high shareholder yield. The achievement of this all-time high reflects T.D. Synnex’s strategic initiatives and market position, contributing to its upward momentum in the stock market. InvestingPro offers 15+ additional insights about SNX’s valuation and growth prospects in its comprehensive Pro Research Report.
In other recent news, TD SYNNEX reported strong financial results for the second quarter of fiscal year 2025, surpassing analysts’ expectations. The company achieved non-GAAP diluted earnings per share (EPS) of $2.99, exceeding the forecasted $2.71 by 10.33%, while revenue reached $14.95 billion, above the anticipated $14.3 billion. UBS responded to the earnings report by reiterating a buy rating and raising its price target to $154 from $138, noting the company’s double-digit billings growth across both Advanced Solutions and Endpoint segments. Loop Capital also raised its price target for TD SYNNEX to $160 from $150, maintaining a Buy rating due to the company’s 7% year-over-year revenue growth and 10% year-over-year EPS growth.
In a strategic move, TD SYNNEX acquired Apptium, a software development company specializing in cloud commerce platform solutions. This acquisition aims to enhance TD SYNNEX’s cloud and everything-as-a-service offerings, bolstering its technology solutions orchestration strategy. Apptium was previously a key partner in developing the StreamOne platform, which supports TD SYNNEX’s digital business orchestration strategy. These developments underscore TD SYNNEX’s continued growth and strategic expansion in the technology distribution sector.
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