Analyst Price Target Update on TE Connectivity Ltd. (NYSE:TEL)

TE Connectivity Ltd. (NYSE:TEL): 6 Analyst have given the stock of TE Connectivity Ltd. (NYSE:TEL) a near short term price target of $68. The standard deviation reading, which is a measure by which the stock price is expected to swing away from the mean estimate, is at $4.69. The higher price target estimate is at $77 while the lower price estimates are fixed at $64.

Many analysts have stated their opinion on the company shares. Equity Analysts at the Brokerage Firm, Goldman Sachs, downgrades their rating on the shares of TE Connectivity Ltd. (NYSE:TEL). Goldman Sachs has a Neutral rating on the shares. Previously, the analysts had a Buy rating on the shares. As per the latest research report, the brokerage house lowers the price target to $66 per share from a prior target of $70. The rating by the firm was issued on May 9, 2016. For the current week, the company shares have a recommendation consensus of Buy.

On the companys insider trading activities, Lynch Thomas J, director officer (Chairman & CEO) of Te Connectivity Ltd., unloaded 87,958 shares at an average price of $59.49 on May 10, 2016. The total amount of the transaction was worth $5,232,621, according to the disclosed information with the Securities and Exchange Commission in a Form 4 filing.

TE Connectivity Ltd. (NYSE:TEL) stock ended Monday session in the red zone in a volatile trading. The stock closed down 0.84 points or 1.37% at $60.53 with 1,260,084 shares getting traded. Post opening the session at $61.26, the shares hit an intraday low of $60.51 and an intraday high of $61.54 and the price was in this range throughout the day. The company has a market cap of $21,647 million and the number of outstanding shares have been calculated to be 357,616,200 shares. The 52-week high of TE Connectivity Ltd. (NYSE:TEL) is $69.88 and the 52-week low is $51.7.

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.

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