SYNNEX Corporation provides business process services in the United States and internationally. The company distributes peripherals; and information technology systems, including system components, software, networking, communications and security equipment, consumer electronics, and complementary products, as well as designs and integrates data center equipment. It also provides systems design and integration solutions, build-to-order, and configure-to-order assembly capabilities; logistics services that comprise outsourced fulfillment, virtual distribution, and direct ship to end-users; cloud services; online services; and financing services comprising net terms, third party leasing, floor plan financing, and letters of credit backed financing and arrangements. In addition, the company offers marketing services, such as direct mail, external media advertising, reseller product training, targeted telemarketing campaigns, trade shows, trade groups, database analysis, print on demand services, and web-based marketing. It serves resellers, system integrators, and retailers. The company was formerly known as SYNNEX Information Technologies, Inc. and changed its name to SYNNEX Corporation in October 2003. SYNNEX Corporation was founded in 1980 and is headquartered in Fremont, California.
IPO Year: 2003
Exchange: NYSE
Website: synnexcorp.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 7/15/2024 | $135.00 → $140.00 | Sector Perform → Outperform | RBC Capital Mkts |
| 4/16/2024 | $115.00 → $145.00 | Neutral → Buy | UBS |
| 1/8/2024 | $112.00 → $113.00 | Overweight → Neutral | JP Morgan |
| 11/22/2023 | $105.00 | Neutral | UBS |
| 5/1/2023 | $101.00 | Buy | Goldman |
| 2/15/2023 | $109.00 | Equal Weight | Barclays |
| 10/4/2022 | $95.00 | Sector Perform | RBC Capital Mkts |
| 8/17/2022 | $115.00 | Neutral | Credit Suisse |
| 7/14/2022 | $119.00 | Overweight | JP Morgan |
| 4/14/2022 | $125.00 | Hold → Buy | Stifel |
TD SYNNEX honored for fourth consecutive year TD SYNNEX (NYSE:SNX) today announced it has been named one of the "2025 World's Most Admired Companies" by FORTUNE. This is the fourth consecutive year the company has been named to the list, following the legacy companies' long history of inclusion on the list as well. "We are honored to be part of this distinguished list of companies once again and to see our team recognized for their dedication to empowering our global partners to achieve great outcomes with technology," said TD SYNNEX CEO Patrick Zammit. "This achievement reflects the culture fostered by our 23,000 co-workers worldwide, who are committed to making IT personal for our par
TD SYNNEX (NYSE:SNX) announces the launch of the initial phase of the TD SYNNEX Digital Bridge Microsoft Teams Plugin, now available to customers in North America. This is the first plugin available as part of the new TD SYNNEX Digital Bridge solution. TD SYNNEX Digital Bridge is a unique marketplace of pre-built integrations being designed to remove complexity and connect partners' existing systems directly to TD SYNNEX, providing real-time information that will enable faster, automated workflows that can reduce costs and increase efficiency. According to the TD SYNNEX 3rd annual Direction of Technology report, partners said that simplified, specialized tech solutions, ease of transact
TD SYNNEX (NYSE:SNX) today announced the upcoming retirement of Hau Lee from its Board of Directors (the "Board"). Lee, who has served as a Director of TD SYNNEX since 2012, will retire from the Board when his current term of office expires, effective at TD SYNNEX's 2025 Annual Meeting of Stockholders. "Hau has provided invaluable leadership and expertise that have significantly contributed to TD SYNNEX's growth and success," said Ann Vezina, Chair of the TD SYNNEX Board of Directors. "We are grateful for Hau's dedication and commitment to the company, and we wish him all the best in his retirement." "I have been honored to work with the TD SYNNEX directors and executive leadership team
Fiscal fourth quarter revenue of $15.8 billion, above our outlook of $14.9 - $15.7 billion. Fiscal fourth quarter non-GAAP gross billings(1) of $21.2 billion, above the midpoint of our outlook of $20.5 - $21.5 billion. Fiscal fourth quarter net income of $195 million and non-GAAP net income(1) of $263 million. Fiscal fourth quarter diluted earnings per share ("EPS") of $2.29 and non-GAAP diluted EPS(1) of $3.09, above the midpoint of our outlook. Fiscal fourth quarter cash provided by operations of $562 million and free cash flow(1) of $513 million. Fiscal 2024 cash provided by operations of $1.2 billion and free cash flow(1) of $1.0 billion. Returned $750 million to stoc
TD SYNNEX (NYSE:SNX), a leading global distributor and solutions aggregator, today announced the grand opening of their new North American Innovation Studio in partnership with IBM. The studio is a strategic component of TD SYNNEX's Destination AI™ initiative alongside its IBM watsonx Gold 100 program, and now provides a dedicated physical space along with IBM trained, technical experts for TD SYNNEX partners to leverage throughout their AI adoption and monetization journey. The Innovation Studio is a dynamic space that supports digital and business transformation by connecting TD SYNNEX partners with advancing technologies like AI, data, automation and hybrid cloud in a hands-on environm
TD SYNNEX (NYSE:SNX) today announced it will reschedule its fourth quarter and full year fiscal 2024 earnings release and conference call, previously scheduled for Thursday, January 9, 2025, to Friday, January 10, 2025, before the U.S. market opens at 6:00 a.m. PT / 9:00 a.m. ET. The adjustment to the earnings release and conference call date is in recognition of the National Day of Mourning of former President Jimmy Carter and the closing of the New York Stock Exchange on January 9, 2025. The quarterly earnings press release and a live audio webcast of the earnings call will be accessible at ir.tdsynnex.com, and a replay of the webcast will be available following the call. About TD SYN
TD SYNNEX (NYSE:SNX), a leading global distributor and solutions aggregator for the IT ecosystem, today announced the appointment of Kristie Grinnell as Executive Vice President and Chief Information Officer, effective January 20, 2025. She succeeds Bonnie Smith, who will be retiring from her role as TD SYNNEX CIO and will stay with the company until February 1 to ensure a smooth transition. "Kristie brings a wealth of experience and a proven track record of transformational leadership that will strengthen how we harness the power of data and digital to deliver personalized, targeted customer engagement and operational excellence," said Patrick Zammit, CEO, TD SYNNEX. "We thank Bonnie for
TD SYNNEX (NYSE:SNX) today announced it will report its financial results for the fourth quarter and full year of fiscal 2024 before the U.S. market opens on Thursday, January 9, 2025. A conference call to review the results will be held at 6:00 a.m. PT / 9:00 a.m. ET the same day. The quarterly earnings press release and a live audio webcast of the earnings call will be accessible at ir.tdsynnex.com, and a replay of the webcast will be available following the call. About TD SYNNEX TD SYNNEX (NYSE:SNX) is a leading global distributor and solutions aggregator for the IT ecosystem. We are an innovative partner helping more than 150,000 customers in 100+ countries to maximize the value o
TD SYNNEX recognized as Distributor Partner of the Year in North America, one of many AWS Partners around the globe that help their customers drive innovation TD SYNNEX (NYSE:SNX), a leading global distributor and solutions aggregator for the IT ecosystem, is excited to announce it is a recipient of a 2024 Geography and Global AWS Partner Award, recognizing leaders around the globe that are playing key roles in helping their customers drive innovation and build solutions on Amazon Web Services (AWS). TD SYNNEX has been named the winner of the Distributor Partner of the Year award in North America, recognizing TD SYNNEX's achievement as one of AWS' top distribution partners in the region,
Maxar Intelligence, provider of secure, precise geospatial sights, today announced a new partnership with TD SYNNEX, a leading global distributor and solutions aggregator for the IT ecosystem. This partnership will enable greater access to Maxar's industry-leading satellite imagery and geospatial insights through TD SYNNEX's marketplace. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20241204939229/en/TD SYNNEX's headquarters in Fremont, California, as seen on May 6, 2024, by Maxar's WorldView-3 satellite. Satellite image © 2024 Maxar Technologies. (Photo: Business Wire) Operating the most advanced commercial Earth observation con
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RBC Capital Mkts upgraded TD Synnex from Sector Perform to Outperform and set a new price target of $140.00 from $135.00 previously
UBS upgraded TD Synnex from Neutral to Buy and set a new price target of $145.00 from $115.00 previously
JP Morgan downgraded TD Synnex from Overweight to Neutral and set a new price target of $113.00 from $112.00 previously
UBS initiated coverage of TD Synnex with a rating of Neutral and set a new price target of $105.00
Goldman initiated coverage of TD Synnex with a rating of Buy and set a new price target of $101.00
Barclays initiated coverage of TD Synnex with a rating of Equal Weight and set a new price target of $109.00
RBC Capital Mkts initiated coverage of TD Synnex with a rating of Sector Perform and set a new price target of $95.00
Credit Suisse initiated coverage of TD Synnex with a rating of Neutral and set a new price target of $115.00
JP Morgan initiated coverage of TD Synnex with a rating of Overweight and set a new price target of $119.00
Stifel upgraded TD Synnex from Hold to Buy and set a new price target of $125.00
Fiscal fourth quarter revenue of $15.8 billion, above our outlook of $14.9 - $15.7 billion. Fiscal fourth quarter non-GAAP gross billings(1) of $21.2 billion, above the midpoint of our outlook of $20.5 - $21.5 billion. Fiscal fourth quarter net income of $195 million and non-GAAP net income(1) of $263 million. Fiscal fourth quarter diluted earnings per share ("EPS") of $2.29 and non-GAAP diluted EPS(1) of $3.09, above the midpoint of our outlook. Fiscal fourth quarter cash provided by operations of $562 million and free cash flow(1) of $513 million. Fiscal 2024 cash provided by operations of $1.2 billion and free cash flow(1) of $1.0 billion. Returned $750 million to stoc
TD SYNNEX (NYSE:SNX) today announced it will reschedule its fourth quarter and full year fiscal 2024 earnings release and conference call, previously scheduled for Thursday, January 9, 2025, to Friday, January 10, 2025, before the U.S. market opens at 6:00 a.m. PT / 9:00 a.m. ET. The adjustment to the earnings release and conference call date is in recognition of the National Day of Mourning of former President Jimmy Carter and the closing of the New York Stock Exchange on January 9, 2025. The quarterly earnings press release and a live audio webcast of the earnings call will be accessible at ir.tdsynnex.com, and a replay of the webcast will be available following the call. About TD SYN
TD SYNNEX (NYSE:SNX) today announced it will report its financial results for the fourth quarter and full year of fiscal 2024 before the U.S. market opens on Thursday, January 9, 2025. A conference call to review the results will be held at 6:00 a.m. PT / 9:00 a.m. ET the same day. The quarterly earnings press release and a live audio webcast of the earnings call will be accessible at ir.tdsynnex.com, and a replay of the webcast will be available following the call. About TD SYNNEX TD SYNNEX (NYSE:SNX) is a leading global distributor and solutions aggregator for the IT ecosystem. We are an innovative partner helping more than 150,000 customers in 100+ countries to maximize the value o
Revenue of $14.7 billion, at the upper end of our outlook of $13.3 - $14.9 billion. Non-GAAP gross billings(1) of $20.3 billion, above the high end of our outlook of $18.9 - $20.1 billion. Net income of $179 million, and non-GAAP net income(1) of $245 million, above the midpoint of our outlook. Diluted earnings per share ("EPS") of $2.08, and non-GAAP diluted EPS(1) of $2.86, above the midpoint of our outlook. Cash provided by operations of $386 million and free cash flow(1) of $339 million. Returned $91 million to stockholders in the form of $57 million of share repurchases and $34 million in dividends. Announced a quarterly cash dividend of $0.40 per common share, up 14% from
TD SYNNEX (NYSE:SNX) today announced it will report its financial results for the third quarter of fiscal 2024 before the U.S. market opens on Thursday, September 26, 2024. A conference call to review the results will be held at 6:00 a.m. PT / 9:00 a.m. ET the same day. The quarterly earnings press release and a live audio webcast of the earnings call will be accessible at ir.tdsynnex.com, and a replay of the webcast will be available following the call. About TD SYNNEX TD SYNNEX (NYSE:SNX) is a leading global distributor and solutions aggregator for the IT ecosystem. We're an innovative partner helping more than 150,000 customers in 100+ countries to maximize the value of technology
Revenue of $13.9 billion, within our outlook of $13.3 - $14.9 billion. Non-GAAP gross billings(1) of $19.3 billion, at the upper end of our outlook of $18.4 - $19.6 billion. Gross margin and non-GAAP gross margin(1) of 6.98%, up 13 bps and 9 bps, respectively, from the prior fiscal second quarter. Net income of $144 million, and non-GAAP net income(1) of $237 million, within our outlook. Diluted earnings per share ("EPS") of $1.66, and non-GAAP diluted EPS(1) of $2.73, within our outlook. Returned $288 million to shareholders in the fiscal second quarter in the form of $254 million of share repurchases and $34 million in dividends, representing a 210% increase from the prior
TD SYNNEX (NYSE:SNX) today announced it will report its financial results for the second quarter of fiscal 2024 before the U.S. market opens on Tuesday, June 25, 2024. A conference call to review the results will be held at 6:00 a.m. PT / 9:00 a.m. ET the same day. The quarterly earnings press release and a live audio webcast of the earnings call will be accessible at ir.tdsynnex.com, and a replay of the webcast will be available following the call. About TD SYNNEX TD SYNNEX (NYSE:SNX) is a leading global distributor and solutions aggregator for the IT ecosystem. We're an innovative partner helping more than 150,000 customers in 100+ countries to maximize the value of technology inves
Revenue of $14.0 billion, within our outlook of $14.0 - $14.7 billion. Non-GAAP gross billings(1) of $19.3 billion, within our outlook of $19.0 - $20.0 billion. Gross margin and non-GAAP gross margin(1) of 7.20%, up 57 bps and 52 bps, respectively, from the prior fiscal first quarter. Net income of $172 million, and non-GAAP net income(1) of $266 million. Diluted earnings per share ("EPS") of $1.93, and non-GAAP diluted EPS(1) of $2.99, at the upper end of our outlook. Cash provided by operations of $385 million and free cash flow(1) of $344 million, compared to cash used in operations of $103 million and free cash flow(1) of negative $140 million in the prior fiscal first q
TD SYNNEX (NYSE:SNX) today announced it will report its financial results for the first quarter of fiscal 2024 before the U.S. market opens on Tuesday, March 26, 2024. A conference call to review the results will be held at 6:00 a.m. PT / 9:00 a.m. ET the same day. The quarterly earnings press release and a live audio webcast of the earnings call will be accessible at ir.tdsynnex.com, and a replay of the webcast will be available following the call. About TD SYNNEX TD SYNNEX (NYSE:SNX) is a leading global distributor and solutions aggregator for the IT ecosystem. We're an innovative partner helping more than 150,000 customers in 100+ countries to maximize the value of technology inves
Fiscal fourth quarter revenue of $14.4 billion, within the previously provided outlook of $14.0 - $15.0 billion. Fiscal fourth quarter non-GAAP gross billings(1) of $19.7 billion, at the high end of the previously provided outlook of $18.5 - $19.7 billion. Fiscal fourth quarter gross margin and non-GAAP gross margin(1) of 7.07%, up 55 bps and 44 bps, respectively, from the prior fiscal fourth quarter. Fiscal fourth quarter net income of $188 million, and non-GAAP net income(1) of $286 million, exceeding the high end of the prior guidance range. Fiscal fourth quarter diluted earnings per share ("EPS") of $2.06, and non-GAAP diluted EPS(1) of $3.13, exceeding the high end of the
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TD SYNNEX (NYSE:SNX), a leading global distributor and solutions aggregator for the IT ecosystem, today announced the appointment of Kristie Grinnell as Executive Vice President and Chief Information Officer, effective January 20, 2025. She succeeds Bonnie Smith, who will be retiring from her role as TD SYNNEX CIO and will stay with the company until February 1 to ensure a smooth transition. "Kristie brings a wealth of experience and a proven track record of transformational leadership that will strengthen how we harness the power of data and digital to deliver personalized, targeted customer engagement and operational excellence," said Patrick Zammit, CEO, TD SYNNEX. "We thank Bonnie for
Raja Appointed Senior Vice President of Hyperscaler and Marketplace in North America TD SYNNEX (NYSE:SNX) announced today the appointment of industry veteran Tanuj Raja as Senior Vice President, North America Hyperscaler and Marketplace. Raja joins TD SYNNEX from Google and brings a wealth of expertise in marketplace strategies, digital transformation, and Telecom and Edge ecosystems. "We are thrilled to welcome Tanuj to TD SYNNEX and to help our partners capitalize on digital opportunities in new ways," said Reyna Thompson, Incoming North America President at TD SYNNEX. "At TD SYNNEX, we empower our partners to scale across diverse customer segments by providing comprehensive enablement
New program empowers North American partners to build their AI practice through tailored support TD SYNNEX, (NYSE:SNX), a leading global distributor and solutions aggregator for the IT ecosystem, today announced the launch of its Destination AI™ Practice Accelerator in North America to fast-track AI go-to-market efforts and monetization for partners. The program provides personalized support to partners looking to deliver specialized AI solutions to their customers. According to TD SYNNEX's recently released Direction of Technology report, partners are rapidly increasing investments in AI, with nearly half of all channel partners planning to offer AI-driven solutions in the next two years
MUNICH, Germany, Sept. 23, 2024 (GLOBE NEWSWIRE) -- Acronis, a global leader in cybersecurity and data protection, is excited to announce its latest Acronis #TeamUp Partner, FC Bayern Munich Basketball. In partnership with TD SYNNEX Germany, a leading global distributor and aggregator of solutions for the IT ecosystem, the German Basketball champion will leverage Acronis' solutions to uplevel its IT infrastructure and capabilities. "We are proud to join forces with Bayern Munich and TD SYNNEX," said Markus Fritz, General Manager DACH at Acronis. "At Acronis, our focus is on delivering comprehensive cyber protection solutions. With an emphasis on expanding our presence in Germany, partneri
Strategic partnership adds Securonix's industry-leading SIEM to cybersecurity offerings available to TD SYNNEX partners Securonix, Inc., a five-time Gartner Magic Quadrant Cybersecurity leader in Security Information and Event Management (SIEM), today announced a new partnership with TD SYNNEX, a leading global distributor and solutions aggregator for the IT ecosystem, to distribute Securonix's AI-Reinforced SIEM platform to its extensive solution provider network. The partnership significantly expands the market reach of Securonix EON, which introduces advanced AI capabilities into Securonix's leading SIEM platform. This enhancement strengthens all layers of the platform, empowering orga
~~After transformative tenure as CEO, Rich Hume to Retire~~ ~~Transition is effective September 1, 2024~~ TD SYNNEX (NYSE:SNX), today announced that Patrick Zammit will become Chief Executive Officer, succeeding Rich Hume, who will retire after a transformative tenure as CEO. Hume will remain on the TD SYNNEX board of directors. The leadership transition is effective September 1. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240619892207/en/TD SYNNEX today announced that Patrick Zammit will become Chief Executive Officer, succeeding Rich Hume, who will retire after a transformative tenure as CEO. Zammit, who has served as t
TD SYNNEX (NYSE:SNX) announced today that Alim Dhanji will join the company as its new Chief Human Resources Officer, effective June 10. Dhanji brings over 25 years of global leadership experience in creating high-performing teams and developing innovative talent strategies. Dhanji succeeds Beth Simonetti who will retire from the company effective, June 1, and stay on as a consultant for the business through August 31. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240529678287/en/Alim Dhanji will join TD SYNNEX as its new Chief Human Resources Officer. (Photo: Business Wire) Prior to joining TD SYNNEX, Dhanji served as the Chie
Murphy rejoins the distributor from NTT Ltd where she serves as CEO, Europe She will report to Patrick Zammit, COO, TD SYNNEX TD SYNNEX (NYSE:SNX) today announced the appointment of Miriam Murphy as the company's new president, Europe. Murphy starts in her new role on April 8th, 2024, and will be responsible for leading the company's 7,000-strong European workforce, driving business strategy and operational execution in the region. She will report to Patrick Zammit, the chief operating officer, TD SYNNEX – who she succeeds as president, Europe – and she will serve on the company's global executive team. Murphy will lead the distributor's European executive board, which consists of ge
New role to accelerate go-to-market capabilities for TD SYNNEX vendors and customers and drive operational excellence TD SYNNEX (NYSE:SNX) announced today that Patrick Zammit has been named Chief Operating Officer, reporting to company CEO Rich Hume effective January 1. In this new role, Zammit will coordinate the company's business strategy to drive profitable growth across all technologies, geographies and vendors, and to accelerate the adoption of new, high-growth technologies around the globe. Zammit has served at TD SYNNEX as president, Europe, since 2017, adding executive responsibility for Asia Pacific and Japan in 2021. A new leader for TD SYNNEX's business in Europe will be annou
TD SYNNEX (NYSE:SNX), a leading global distributor and solutions aggregator for the IT ecosystem, and its Board today announced the following Board member responsibility changes effective September 1, 2023: Ann Vezina, current lead independent director will become Chair of the Board of Directors. Dennis Polk, current Chair, will continue as a Board member and retain his existing executive responsibilities. "I am excited for Ann to take on the Board leadership role at TD SYNNEX. She has provided steady and thoughtful guidance as lead independent director and this will only continue in her new role," said Mr. Polk. "I am honored to take on the Chair responsibilities at TD SYNNEX an