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Richard T. Hume, a director at TD Synnex Corp (NYSE:SNX), a prominent player in the Electronic Equipment industry with a market capitalization of $11.4 billion, executed a series of stock sales on March 3, 2025, totaling approximately $2.72 million. The transactions were carried out under a pre-established Rule 10b5-1 trading plan adopted in June 2024. According to InvestingPro analysis, the company maintains a strong financial health rating and trades below its Fair Value.
Hume sold a total of 20,000 shares of common stock at prices ranging from $133.95 to $138.15 per share. Following these transactions, Hume holds 65,480 shares directly. The stock has demonstrated strong performance with a 30% return over the past year and currently trades at an attractive P/E ratio of 16.7x.
The sales were reported in a Form 4 filing with the Securities and Exchange Commission, detailing the transactions and the weighted average prices for various trades within the specified price ranges. For comprehensive insider trading analysis and additional insights, InvestingPro subscribers can access detailed valuation metrics and 14 additional key insights about TD Synnex.
In other recent news, TD SYNNEX reported fourth-quarter earnings that exceeded analyst expectations, with adjusted earnings per share at $3.09, surpassing the consensus estimate of $3.06. The company’s revenue also outperformed projections, reaching $15.84 billion against an anticipated $15.25 billion, marking a 10% year-over-year increase. BofA Securities and Loop Capital both maintained their Buy ratings on TD SYNNEX, with an increased price target of $150, reflecting confidence in the company’s financial health and market position. Raymond (NSE:RYMD) James also raised its price target to $150, citing strong cash flow and a strategic shift towards profitable growth under new CEO Patrick Zammit. The company has returned over 70% of its free cash flow to shareholders in the past year and announced a 10% increase in its quarterly dividend to $0.44 per share. Looking ahead, TD SYNNEX forecasts first-quarter fiscal 2025 revenue between $14.4 billion and $15.2 billion, with adjusted EPS expected to range from $2.65 to $3.15. The company’s Endpoint Solutions segment posted a 3% year-over-year revenue growth, while its Advanced Solutions portfolio achieved an 11% increase, excluding contributions from Hyve. These developments indicate robust demand for TD SYNNEX’s services and a positive outlook for the IT spending environment.
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