TE Connectivity (NYSE:TEL) hit a fresh all-time high at $167.98, reflecting robust investor confidence and steady growth momentum. With a market value approaching $50 billion, the stock has delivered a solid 17.4% return so far this year. The company’s strong fundamentals include a price-to-earnings ratio of 35.6 and a dividend yield of 1.71%, alongside a solid “GOOD” Financial Health Score, underscoring TE Connectivity’s position as a leading player in the electronic components sector.
The recent surge comes on the heels of better-than-expected fiscal second-quarter results. TE Connectivity reported adjusted earnings of $2.10 per share, surpassing analysts’ estimates of $1.96, while revenue climbed 4% year-over-year to $4.1 billion, topping the forecast of $3.96 billion. Looking ahead, the company expects third-quarter adjusted earnings around $2.06 per share and revenue near $4.3 billion, both exceeding Wall Street’s projections.
In a related move, TE Connectivity’s subsidiary, Tyco Electronics Group S.A., priced a $900 million senior notes offering to support general corporate needs, including paying down debt tied to recent acquisitions. Meanwhile, HSBC upgraded the stock from Hold to Buy, raising the price target to $175. The bank cited TE Connectivity’s accelerating growth and noted the stock’s current discount to its historical valuation as unjustified, signaling confidence in the company’s trajectory.
These developments highlight a period of strong performance and growing optimism around TE Connectivity’s future prospects.