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Te Connectivity stock has reached an all-time high of $172.31, marking a significant milestone for the $51 billion market cap company. According to InvestingPro data, the company maintains a "GOOD" financial health score and has consistently paid dividends for 19 consecutive years. Over the past year, the stock has experienced a robust increase, with a 1-year return of 15.65%, while delivering even stronger gains of 22.11% over the past six months. This upward trend reflects strong investor confidence and positive market performance for the company, which specializes in connectivity and sensor solutions. The achievement of this all-time high underscores TE Connectivity (NYSE:TEL)’s ongoing growth and resilience in the face of market challenges. InvestingPro subscribers have access to 12 additional key insights about TE Connectivity, including detailed Fair Value analysis and comprehensive financial metrics.
In other recent news, TE Connectivity reported impressive fiscal second-quarter results, surpassing analyst expectations with adjusted earnings of $2.10 per share, compared to the consensus estimate of $1.96. The company’s revenue increased by 4% year-over-year to $4.1 billion, beating the anticipated $3.96 billion. The firm also provided strong guidance for the upcoming fiscal third quarter, projecting adjusted earnings of approximately $2.06 per share on revenue of about $4.3 billion, both higher than Wall Street predictions. Additionally, TE Connectivity announced the pricing of a $900 million senior notes offering, with proceeds intended for general corporate purposes, including debt repayment from a recent acquisition. In a positive development from the financial sector, HSBC upgraded TE Connectivity’s stock rating from Hold to Buy, raising the price target to $175 from $166. This upgrade reflects HSBC’s favorable outlook on the company’s valuation and growth prospects. The analysts noted that the stock’s current trading multiples present a discount compared to historical averages, suggesting a valuable opportunity for investors. These updates highlight significant developments for TE Connectivity and its stakeholders.
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