TE Connectivity Ltd (TEL) is Downgraded by Goldman to Neutral

TE Connectivity Ltd (TEL) was Downgraded by Goldman to ” Neutral”. Earlier the firm had a rating of “Buy ” on the company shares. Goldman advised their investors in a research report released on May 9, 2016.

Many Wall Street Analysts have commented on TE Connectivity Ltd. TE Connectivity Ltd was Downgraded by Sun Trust Rbsn Humphrey to ” Neutral” on Mar 29, 2016. Company shares were Reiterated by RBC Capital Mkts on Mar 28, 2016 to “Outperform”, Firm has raised the Price Target to $ 66 from a previous price target of $65 .TE Connectivity Ltd was Downgraded by Berenberg to ” Hold” on Mar 2, 2016.

On the company’s financial health, TE Connectivity Ltd reported $0.90 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Apr 20, 2016. Analyst had a consensus of $0.89. The company had revenue of $2952.00 million for the quarter, compared to analysts expectations of $2978.44 million. The company’s revenue was down -4.2 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.91 EPS.

TE Connectivity Ltd closed down -0.06 points or -0.10% at $59.33 with 19,69,868 shares getting traded on Friday. Post opening the session at $59.02, the shares hit an intraday low of $58.64 and an intraday high of $59.48 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

In a different news, on Apr 12, 2016, Thomas J Lynch (Chairman & CEO) sold 87,958 shares at $62.22 per share price. According to the SEC, on Mar 11, 2016, Terrence R Curtin (President & Director) sold 369 shares at $59.13 per share price. On Mar 1, 2016, Robert W. Hau (EVP & Chief Financial Officer) sold 36,450 shares at $57.56 per share price, according to the Form-4 filing with the securities and exchange commission.

TE Connectivity Ltd. (TE Connectivity) is a technology company. The Company designs and manufactures connectivity and sensors solutions. It operates its business through three segments: Transportation Solutions which offers various products including terminals and connector systems and components relays circuit protection devices sensors and application tooling among others; Industrial Solutions which include terminals and connector systems and components heat shrink tubing relays wire and cable and Communications Solutions which include terminals and connector systems and components circuit protection devices antennas relays and heat shrink tubing. It markets its products to manufacturers and distributors in a number of markets which include automotive industrial equipment and consumer devices.

TE Connectivity Ltd

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