Sensata Technologies (ST) Announces CEO Transition, Governance Enhancements
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Sensata Technologies surges as Elliott gains board seat, CEO steps down
April 30, 2024 10:21 AM EDTShares of Sensata Technologies (NYSE: ST) surged 12% higher in early trading Tuesday after the company reported solid first-quarter results and announced a surprise deal with activist hedge fund Elliott Investment. The company also announced that CEO Jeff Cote is stepping down, and Elliott is now the company's largest shareholder and has a new board seat.
In the first quarter, Sensata reported Q1 EPS of $0.89, beating the analyst estimate of $0.85. Revenue for the quarter was $1.01 billion versus the consensus of $986.51 million. Looking ahead, the company sees second-quarter EPS of 0.89-$0.95, versus the consensus of... More
Sensata Technologies (ST) PT Raised to $44 at BofA Securities
April 30, 2024 6:16 AM EDTBofA Securities analyst Wamsi Mohan raised the price target on Sensata Technologies (NYSE: ST) to $44.00 (from $38.00) while maintaining a Neutral rating.
The analyst comments "Sensata announced 1Q results and simultaneously announced a CEO transition, a stake by Elliott Mgmt (largest shareholder) and... More
