TD Synnex Corp

SNX remains in a long-term uptrend, trading well above its 200-day moving average of 182.88 and still far above the 52-week low. The stock is off its 52-week high of 296.47, so the regime is constructive but not extended to new-high territory.

Street sentiment is firmly positive: the consensus is Buy with a 333.17 average target, well above the current level. Recent action has been mostly target raises, including Barclays to 278, UBS to 352, Morgan Stanley to 374, and RBC to 340, even as Barclays kept a Negative stance.

The earnings pattern is strong, with SNX beating in 6 of the last 7 quarters and the most recent print topping estimates by 19.9%. Next-year EPS is modeled at 21.42 versus 13.94 TTM, so shareholders should watch whether Hyve and distribution demand keep driving that step-up.

Recent insider activity leans to net selling, led by Dennis Polk. Most of the share movements are M-Exempt exercises and related tax/award flows, but the repeated S-Sale transactions across late June and mid-June point to meaningful discretionary selling rather than isolated noise.

Profitability is solid for a distributor, with a 7.0% gross margin, 2.65% operating margin, and 1.63% net margin. Growth is the bigger story: revenue rose 31% year over year and earnings grew 87.8%, while free cash flow reached $1.67 billion with an 8.55% yield.

SNX wins on scale, cash generation, and earnings momentum versus typical IT distributors, but the model still runs on thin margins. At 14.4x earnings, it screens at a reasonable multiple for a business with double-digit ROE and strong forward EPS growth.