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TD SYNNEX (SNX) Signs Agreement With mmWave Developer Siklu

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TD SYNNEX SNX recently inked a distribution agreement with millimeter wave (“mmWave”) wireless connectivity developer, Siklu, to leverage all of its solutions.

Both the companies intend to jointly focus on offering cost-effective, wireless Gigabit-speed connectivity primarily to enterprise clients. Siklu provides a broad range of selection of mmWave products in the industry. The company, which has more than a decade of mmWave experience in over 50 countries and shipped 200k units, offers a complete package of hardware and software designed to deliver gigabits for all.

It is worth mentioning that TD SYNNEX has been benefiting from consecutive deal wins since its formation, following the merger of SYNNEX and Tech Data Corporation in the first week of September 2021.

Recently, in January, TD SYNNEX announced a new strategic collaboration agreement with Amazon Web Services, Inc. Through a separate deal, it partnered with MicroStrategy, an enterprise analytics platform that delivers modern, consumer-grade experiences for every role on every device, for the North American region.

TD SYNNEX Corp. Price and Consensus

TD SYNNEX Corp. Price and Consensus
TD SYNNEX Corp. Price and Consensus

TD SYNNEX Corp. price-consensus-chart | TD SYNNEX Corp. Quote

In December 2021, TD SYNNEX’s wholly-owned subsidiary, Tech Data India, announced a partnership with Zscaler to enable its partners to purchase security solutions and services as part of the Zscaler Zero Trust Exchange platform directly from Tech Data India.

Prior to that, in October, TD SYNNEX’s legacy company, Tech Data, collaborated with Hewlett Packard Enterprise in the Asia Pacific to grow its distribution of HPE GreenLake cloud services in the region, enabling partners to access a robust set of cloud services that help customers tackle their most challenging business outcomes.

Earlier in October, TD SYNNEX’s legacy company, Tech Data, signed a distributor agreement with Freshworks Inc. to make Freshworks’ suite of products for business solutions available in the India region.

In September, TD SYNNEX partnered with Zscaler, which enabled its partners to purchase security solutions and services as part of the Zscaler Zero Trust Exchange platform directly from the company. In the same month, SNX signed an agreement with a leading Israeli software provider, Indeni, to leverage automated network security solutions.

Earlier in September, TD SYNNEX had won its first distribution contract from Palo Alto Networks to distribute the latter’s cybersecurity solutions to India & SAARC-based customers.

TD SYNNEX is committed to boosting its organic growth with more strategic acquisitions and deal wins that complement and expand its existing capabilities. The merger of TD SYNNEX with Tech Data is expected to be significantly accretive to TD SYNNEX’s bottom line. The deal is anticipated to contribute solid synergy benefits to the company’s top line in the near term.

Zacks Rank & Other Key Picks

TD SYNNEX currently carries a Zacks Rank #2 (Buy). Shares of SNX have plunged 8.4% in the past year.

Some other top-ranked stocks from the broader computer and technology sector are Advanced Micro Devices AMD and Axcelis Technologies ACLS, sporting a Zacks Rank #1 (Strong Buy), and Analog Devices ADI carrying a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.

The Zacks Consensus Estimate for Advanced Micro Devices’ first-quarter fiscal 2022 earnings has been revised upward by 23 cents to 91 cents per share over the past 60 days. For fiscal 2022, Advanced Micro Devices’ earnings estimates have moved south by a penny to $3.99 per share in the past 30 days.

AMD’s earnings beat the Zacks Consensus Estimate in the preceding four quarters, the average surprise being 17%. Shares of Advanced Micro Devices have surged 55.8% in the past year.

The Zacks Consensus Estimate for Axcelis’ first-quarter 2022 earnings has been revised by 5 cents upward to 92 cents per share over the past 60 days. For 2022, Axcelis’ earnings estimates have moved north by 12.4% to $3.99 per share in the past 60 days.

Axcelis’ earnings beat the Zacks Consensus Estimate in each of the preceding four quarters, the average surprise being 30.3%. Shares of ACLS have soared 109.9% in the past year.

The Zacks Consensus Estimate for Analog Devices’ second-quarter fiscal 2022 earnings has been revised upward by 23 cents to $2.08 per share over the past 60 days. For fiscal 2022, earnings estimates have moved north by 79 cents to $8.32 per share in the past 60 days.

Analog Devices’ earnings beat the Zacks Consensus Estimate in each of the preceding four quarters, the average surprise being 6%. Shares of ADI have increased 8.7% in the past year.


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