TE Connectivity (NYSE:TEL) Given New $230.00 Price Target at Wells Fargo & Company

Key Points

• Wells Fargo raised its price target on TE Connectivity from $226 to $230 while keeping an equal weight rating, implying about 13.7% upside from the current price.
• TE Connectivity’s latest quarter beat expectations, with EPS of $2.73 versus $2.70 expected and revenue of $4.74 billion, up 14.4% year over year.
• The company also announced a $3 billion share buyback authorization, and analysts overall remain moderately positive with a consensus “Moderate Buy” rating and an average target of $254.93.

TE Connectivity (NYSE:TEL - Get Free Report) had its price target boosted by stock analysts at Wells Fargo & Company from $226.00 to $230.00 in a research report issued on Thursday,Benzinga reports. The firm currently has an "equal weight" rating on the electronics maker's stock. Wells Fargo & Company's target price would indicate a potential upside of 13.66% from the stock's current price.

A number of other analysts have also weighed in on TEL. Wall Street Zen lowered shares of TE Connectivity from a "strong-buy" rating to a "buy" rating in a report on Saturday, May 2nd. Jefferies Financial Group raised TE Connectivity from a "hold" rating to a "strong-buy" rating in a report on Wednesday, April 15th. Truist Financial dropped their target price on TE Connectivity from $244.00 to $240.00 and set a "hold" rating for the company in a research report on Thursday, April 23rd. Zacks Research cut TE Connectivity from a "strong-buy" rating to a "hold" rating in a report on Monday, June 8th. Finally, UBS Group lowered their price objective on TE Connectivity from $272.00 to $261.00 and set a "buy" rating for the company in a research report on Thursday, April 23rd. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $254.93.

TE Connectivity Price Performance

Shares of TE Connectivity stock traded up $3.81 during trading on Thursday, reaching $202.36. The company's stock had a trading volume of 449,169 shares, compared to its average volume of 2,450,446. The stock has a 50-day moving average price of $213.33 and a two-hundred day moving average price of $219.78. The stock has a market capitalization of $59.07 billion, a P/E ratio of 20.66, a price-to-earnings-growth ratio of 1.43 and a beta of 1.16. The company has a current ratio of 1.89, a quick ratio of 1.20 and a debt-to-equity ratio of 0.42. TE Connectivity has a one year low of $166.58 and a one year high of $252.56.

TE Connectivity (NYSE:TEL - Get Free Report) last issued its quarterly earnings data on Wednesday, April 22nd. The electronics maker reported $2.73 EPS for the quarter, topping analysts' consensus estimates of $2.70 by $0.03. TE Connectivity had a net margin of 15.54% and a return on equity of 23.56%. The firm had revenue of $4.74 billion for the quarter, compared to analyst estimates of $4.72 billion. During the same quarter in the prior year, the firm earned $2.10 EPS. The company's revenue was up 14.4% on a year-over-year basis. TE Connectivity has set its Q3 2026 guidance at 2.830-2.830 EPS. As a group, sell-side analysts anticipate that TE Connectivity will post 11.31 EPS for the current fiscal year.

TE Connectivity announced that its Board of Directors has approved a share repurchase program on Wednesday, March 11th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the electronics maker to repurchase up to 5% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's leadership believes its shares are undervalued.

Insiders Place Their Bets

In other TE Connectivity news, insider Shadrak W. Kroeger sold 9,400 shares of the stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $215.00, for a total value of $2,021,000.00. Following the transaction, the insider owned 25,976 shares of the company's stock, valued at approximately $5,584,840. This represents a 26.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 28,200 shares of company stock valued at $6,140,644 over the last quarter. Corporate insiders own 0.60% of the company's stock.

Institutional Trading of TE Connectivity

Hedge funds have recently modified their holdings of the company. Gulf International Bank UK Ltd increased its stake in TE Connectivity by 0.3% in the fourth quarter. Gulf International Bank UK Ltd now owns 14,999 shares of the electronics maker's stock valued at $3,412,000 after purchasing an additional 44 shares in the last quarter. MCF Advisors LLC boosted its position in shares of TE Connectivity by 14.1% during the fourth quarter. MCF Advisors LLC now owns 364 shares of the electronics maker's stock worth $83,000 after purchasing an additional 45 shares in the last quarter. Webster Bank N. A. grew its holdings in shares of TE Connectivity by 19.1% in the 4th quarter. Webster Bank N. A. now owns 287 shares of the electronics maker's stock valued at $65,000 after buying an additional 46 shares during the period. CYBER HORNET ETFs LLC grew its holdings in shares of TE Connectivity by 5.6% in the 4th quarter. CYBER HORNET ETFs LLC now owns 887 shares of the electronics maker's stock valued at $202,000 after buying an additional 47 shares during the period. Finally, Harbour Investments Inc. increased its position in shares of TE Connectivity by 4.2% in the 4th quarter. Harbour Investments Inc. now owns 1,193 shares of the electronics maker's stock valued at $271,000 after buying an additional 48 shares in the last quarter. 91.43% of the stock is currently owned by institutional investors and hedge funds.

About TE Connectivity

TE Connectivity NYSE: TEL is a global industrial technology company that designs and manufactures connectivity and sensor solutions used to enable the flow of power and data in a wide range of applications. Its product portfolio includes electrical connectors, cable and wire harness assemblies, sensors, relays and switches, fiber-optic and coaxial interconnects, and other passive and active components that provide mechanical and electrical connections in complex systems.

The company's products and engineered solutions serve diverse end markets such as automotive and transportation, industrial equipment, data communications and networks, aerospace and defense, medical devices, and energy.

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