TEL market-structure snapshot

$TEL: multi-source stock research

TE CONNECTIVITY PLC

MARKET STRUCTURE

Latest close on July 28, 2026: $212.88 (+2.6% on the latest daily bar).

HMA21 / HMA55: $205.54 / $199.19. 200DMA: $219.87.

Relative volume: 0.79x the 20-day average.

Nearest support/watch zone: $206.84.

Nearest resistance/watch zone: $213.49.

Price is below the 200DMA, so the long-term trend reference is still defensive.

FUNDAMENTALS AND VALUATION

Latest comparable filing period: 2026 Q3 ending 2026-06-26; filed 2026-07-24.

Comparable growth: revenue +13.8% YoY; net income +17.2% YoY; diluted EPS +19.2% YoY.

Quality and cash conversion: net margin 14.5% (+42 bp YoY); YTD SEC free-cash-flow proxy $2.17B (+5.5% YoY).

Valuation snapshot: trailing P/E 20.9x; forward P/E 16.5x; EV/EBITDA 13.1x; P/S 3.2x.

Read-through:
• Cash generation improved versus the comparable period.

RECENT INSTITUTIONAL RESEARCH

• 2026-07-24 — The impact of Intel’s 2Q results on Japan’s semiconductor equipment sector: Significantly improve capital expenditure outlook, recommend buying… (Goldman Sachs)

Goldman Sachs analyzed the knock-on effects of Intel's 2Q26 performance on Japan's semiconductor equipment (SPE) sector. Intel said in its earnings call that it plans to increase its WFE (wafer fab equipment) tool spending by about 40% in 2026, given the huge investment in fab enclosures and clean room space.

This news is a major benefit to the Japanese SPE sector.

• 2026-07-13 — Japan’s semiconductor equipment sector is expected to rise, but profit conversion is the key. We continue to be optimistic about Lasertec and Disco (Goldman
Sachs)

After meeting with investors, Goldman Sachs pointed out that market expectations for Japanese front-end semiconductor equipment (SPE) companies, including potential price increases, are already quite high.

The agency reiterated its core stock selection: sales growth that exceeds the industry average brought about by technological changes or market share gains, and whether strong revenue can be converted into significant profit margin improvements.

BOTTOM LINE

The technical structure is mixed, while the latest comparable period showed growth in both revenue and net income. The next confirmation must come from both price structure and the next reported operating data—not from narrative alone.

WHAT TO WATCH

• Holding above HMA21 near $205.54 would preserve the short-term structure.
• A close below the nearby support zone around $206.84 would weaken the setup.
• Whether the next filing confirms that revenue growth is converting into net income, EPS and cash flow.
• Whether the operating milestones identified in recent institutional research become measurable disclosures.

Research and technical observation only; not a trade recommendation.

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