TE Connectivity Ltd. (TEL) Shares Slide -1.62%

TE Connectivity Ltd. (TEL) has risen sharply, recording gains of 6.09% in the past 4 weeks. However, the stock has corrected -1.62% in the past 1 week, providing a good buying opportunity on dips. On a relative basis, the stock has outperformed the S&P 500 by 2.64% in the past 4 weeks, but has underperformed the S&P 500 in the past 1 week.

The stock has recorded a 20-day Moving Average of 1.85% and the 50-Day Moving Average is 1.3%. TE Connectivity Ltd. is up 1.34% in the last 3-month period. Year-to-Date the stock performance stands at -6.7%.


TE Connectivity Ltd. (NYSE:TEL): On Fridays trading session , Opening price of the stock was $60.56 with an intraday high of $60.76. The bears continued to sell at higher levels and eventually sold the stock down to an intraday low of $60. However, the stock managed to close at $60.28, a loss of 0.45% for the day. On the previous day, the stock had closed at $60.55. The total traded volume of the day was 2,034,870 shares.

Also, In the latest statement by the brokerage house, Goldman Sachs downgrades its outlook on TE Connectivity Ltd. (NYSE:TEL). The current rating of the shares is Neutral, according to the research report released by the firm. Previously, the company had a rating of Buy. The brokerage firm lowers the price target from $70 per share to $66 per share. The rating by the firm was issued on May 9, 2016.

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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