Fremont, CA – Dennis Polk, a Hyve Solutions Executive at TD Synnex Corp (NYSE:SNX), recently sold shares of the company in a series of transactions on March 4, 2025. According to a filing with the Securities and Exchange Commission, Polk sold a total of 3,000 shares of common stock, generating proceeds of approximately $398,605. The $11.2 billion market cap company is currently considered undervalued according to InvestingPro analysis.
The shares were sold at prices ranging from $132.41 to $134.06. These transactions were carried out under a pre-established Rule 10b5-1 trading plan adopted on October 13, 2024, by the Polk family trust, of which Dennis Polk is a trustee. Following these sales, Polk holds 39,579 shares directly and 99,387 shares indirectly through the trust. While this insider sale occurred, it’s worth noting that management has been actively buying back shares, and the company has maintained dividend payments for 12 consecutive years with a 25.7% dividend growth in the last year.
TD Synnex Corp, headquartered in Fremont, California, is a leading provider of wholesale computer and peripheral equipment and software. The company has demonstrated strong financial performance with $58.5 billion in revenue and healthy profitability metrics. InvestingPro subscribers can access 13 additional key insights about SNX’s valuation and growth prospects through the comprehensive Pro Research Report.
In other recent news, TD SYNNEX reported fourth-quarter earnings that exceeded analyst expectations, with adjusted earnings per share reaching $3.09 compared to the consensus estimate of $3.06. The company’s revenue for the quarter was $15.84 billion, surpassing projections of $15.25 billion, driven by a 10% year-over-year increase in revenue from its Advanced Solutions and Endpoint Solutions portfolios. Additionally, TD SYNNEX’s non-GAAP gross billings rose by 7.4% to $21.2 billion. Analysts at BofA Securities and Raymond (NSE:RYMD) James have both increased their price targets for TD SYNNEX to $150, maintaining a Buy rating and an Outperform rating, respectively, reflecting confidence in the company’s market position and future growth potential.
Loop Capital also reiterated its Buy rating, highlighting a 10% year-over-year revenue increase in the November quarter, driven by sales in PCs and peripherals, as well as growth in advanced solutions like cloud and security. The company anticipates continued demand for AI servers and traditional servers, planning to enhance its Hyve services to capitalize on these trends. Meanwhile, TD SYNNEX has returned $750 million to shareholders in fiscal 2024 and announced a 10% increase in its quarterly dividend to $0.44 per share. The company expects first-quarter fiscal 2025 revenue between $14.4 billion and $15.2 billion, with adjusted EPS projected between $2.65 and $3.15.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.