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Dennis Polk, the Hyve Solutions Executive at TD Synnex Corp (NYSE:SNX), a prominent player in the Electronic Equipment industry with a market capitalization of $8.55 billion, recently executed a sale of 3,000 shares of common stock. According to InvestingPro analysis, the company currently trades at an attractive P/E ratio of 12.8 and offers a dividend yield of 1.65%. This transaction, which took place on April 9, 2025, was conducted at a price of $105.00 per share, amounting to a total value of $315,000.
Following this sale, Polk now holds 96,387 shares indirectly, managed by a trust, and 39,579 shares directly. The sale was part of a pre-arranged Rule 10b5-1 trading plan, established on October 13, 2024, for the Polk family trust, where Dennis Polk serves as a trustee.
In other recent news, TD SYNNEX reported its first-quarter fiscal year 2025 results, which revealed a shortfall in both revenue and earnings per share. The revenue miss was attributed to a shift in product mix, though gross billings showed an 8% year-over-year increase. Analysts such as Raymond (NSE:RYMD) James adjusted their price target to $125, maintaining a Strong Buy rating, while Barclays (LON:BARC) also set a $125 price target with an Equalweight rating. RBC Capital Markets maintained an Outperform rating with a $165 target, citing TD SYNNEX's ability to surpass the overall IT distribution market's performance.
BofA Securities reduced its price target to $135, reaffirming a Buy rating, noting a 7.5% year-over-year billings growth in the first quarter. The company's Advanced Solutions and Endpoint Solutions segments experienced growth, with Endpoint Solutions bolstered by sales in PCs and mobile devices. TD SYNNEX's strategic technology portfolio, including security, cloud, and data analytics, grew over 20% year-over-year.
Additionally, TD SYNNEX shareholders approved several amendments to the company's charter, including the removal of supermajority voting requirements and the limitation of liability for certain officers. These governance changes reflect the company's commitment to aligning practices with shareholder interests. Further insights into the company's strategy and fiscal year 2025 guidance are anticipated at the upcoming analyst day on April 10.
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