Price Action Don’t Lie: What’s Ahead for TE Connectivity Ltd After Reaching 52-Week High?

Price Action Don't Lie: What's Ahead for TE Connectivity Ltd After Reaching 52 Week High?

The stock of TE Connectivity Ltd (NYSE:TEL) hit a new 52-week high and has $71.40 target or 5.00% above today’s $68.00 share price. The 6 months bullish chart indicates low risk for the $24.32B company. The 1-year high was reported on Nov, 25 by Barchart.com. If the $71.40 price target is reached, the company will be worth $1.22B more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. The stock increased 0.97% or $0.65 during the last trading session, hitting $68. About 434,183 shares traded hands. TE Connectivity Ltd (NYSE:TEL) has risen 10.01% since April 22, 2016 and is uptrending. It has outperformed by 4.60% the S&P500.

Analysts await TE Connectivity Ltd (NYSE:TEL) to report earnings on January, 18. They expect $1.00 earnings per share, up 19.05% or $0.16 from last year’s $0.84 per share. TEL’s profit will be $357.65 million for 17.00 P/E if the $1.00 EPS becomes a reality. After $1.27 actual earnings per share reported by TE Connectivity Ltd for the previous quarter, Wall Street now forecasts -21.26% negative EPS growth.

TE Connectivity Ltd (NYSE:TEL) Ratings Coverage

Out of 7 analysts covering TE Connectivity (NYSE:TEL), 3 rate it a “Buy”, 0 “Sell”, while 4 “Hold”. This means 43% are positive. TE Connectivity has been the topic of 15 analyst reports since July 23, 2015 according to StockzIntelligence Inc. The stock has “Neutral” rating given by SunTrust on Tuesday, March 29. The firm has “Outperform” rating given on Friday, September 25 by RBC Capital Markets. Goldman Sachs reinitiated the stock with “Buy” rating in Friday, September 18 report. The firm has “Outperform” rating given on Thursday, November 3 by RBC Capital Markets. The rating was downgraded by Longbow on Thursday, January 14 to “Neutral”. RBC Capital Markets maintained the shares of TEL in a report on Monday, January 18 with “Outperform” rating. Berenberg downgraded TE Connectivity Ltd (NYSE:TEL) on Wednesday, March 2 to “Hold” rating. On Friday, January 15 the stock rating was maintained by RBC Capital Markets with “Outperform”. Stifel Nicolaus maintained the shares of TEL in a report on Thursday, January 21 with “Buy” rating. The company was maintained on Friday, July 1 by RBC Capital Markets.

According to Zacks Investment Research, “TE Connectivity Ltd., formerly known as Tyco Electronics Ltd., operates as a global provider of engineered electronic components; network solutions and systems; and wireless systems. The Company’s engineered electronic components are applicable in consumer and industrial products, network solutions and systems are applicable in telecommunications and energy markets; and wireless systems are applicable for critical communications, radar and defense applications. The Company designs, manufactures and markets products for customers in industries ranging from automotive, appliance, aerospace and defense to telecommunications, computers and consumer electronics. TE Connectivity Ltd. is based in Schaffhausen, Switzerland.”

Insitutional Activity: The institutional sentiment increased to 1.02 in 2016 Q2. Its up 0.07, from 0.95 in 2016Q1. The ratio improved, as 45 funds sold all TE Connectivity Ltd shares owned while 174 reduced positions. 56 funds bought stakes while 153 increased positions. They now own 296.27 million shares or 0.53% more from 294.72 million shares in 2016Q1.
Ibm Retirement Fund holds 4,662 shares or 0.01% of its portfolio. Livforsakringsbolaget Skandia Omsesidigt last reported 30,849 shares in the company. Cleararc Cap accumulated 0.1% or 8,703 shares. Hightower Advisors accumulated 10,163 shares or 0.01% of the stock. United Financial Advisers Ltd, a California-based fund reported 14,006 shares. First Personal Financial Serv holds 0.01% or 414 shares in its portfolio. Wellington Management Gru Llp holds 67,657 shares or 0% of its portfolio. Commonwealth Equity Serv has 12,619 shares for 0.01% of their US portfolio. Bokf Na accumulated 29,222 shares or 0.06% of the stock. Citigroup has 0.02% invested in the company for 289,768 shares. Mufg Americas Holding holds 0.02% or 12,149 shares in its portfolio. Skba Cap Management Limited Liability Company last reported 326,320 shares in the company. Paloma Mngmt Communications, a Connecticut-based fund reported 105,446 shares. Brick Kyle Assocs accumulated 50 shares or 0% of the stock. Princeton Alpha Management Ltd Partnership holds 0.3% of its portfolio in TE Connectivity Ltd (NYSE:TEL) for 29,504 shares.

Insider Transactions: Since June 10, 2016, the stock had 0 buys, and 16 insider sales for $37.95 million net activity. 12,000 shares were sold by Jenkins John S, worth $735,625. CURTIN TERRENCE R sold $78,766 worth of stock. The insider Donahue Joseph B sold $637,778. 11,800 shares were sold by SHADDOCK ROBERT N, worth $722,777. Another trade for 11,156 shares valued at $706,414 was sold by Ott Robert J. $854,995 worth of TE Connectivity Ltd (NYSE:TEL) was sold by O’Toole James. 87,958 shares were sold by LYNCH THOMAS J, worth $5.41M on Friday, June 10.

More news for TE Connectivity Ltd (NYSE:TEL) were recently published by: Nasdaq.com, which released: “TE Connectivity Ltd. (TEL) Ex-Dividend Date Scheduled for November 22, 2016” on November 21, 2016. Prnewswire.com‘s article titled: “TE Connectivity Recognized as an Innovation Leader in CNBC IQ100 Index” and published on November 01, 2016 is yet another important article.

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