ab 14 November 2025 Global Research HOLT TMT Valuations, AI, Software vs. Semis, Hyperscaler Capex – Revisiting 4 Key Tech Debates in HOLT Tech Valuations Global Tech trades on a 36x HOLT Economic P/E, only being more expensive during the dot-com bubble. Fundamentals for Tech remain strong; since the Summer the sector has outpaced others on earnings revisions, with returns forecast to reach an all-time high. We highlight 71 stocks that still screen as attractive on Momentum and Valuation in the sector. AI W ...

Core Insights - Electro-Sensors, Inc. reported record quarterly revenue of $2,748,000 for Q3 2025, representing a 9.4% increase from $2,512,000 in Q3 2024 [2][5] - The gross margin improved to 53.1% in Q3 2025, up from 50.4% in the same quarter of the previous year, indicating effective supply chain management and successful sales price adjustments [2][3] - The company experienced a slight decrease in net income, reporting $208,000 for Q3 2025 compared to $238,000 in Q3 2024, with diluted earnings per share falling to $0.06 from $0.07 [4][5] Financial Performance - Net sales for the first nine months of 2025 reached $7,387,000, a 5.9% increase from $6,973,000 in the same period of 2024 [2][6] - Operating income for Q3 2025 was $181,000, a 4.6% increase from $173,000 in Q3 2024, while the operating income margin slightly decreased to 6.6% from 6.9% [2][4] - Non-operating income decreased to $91,000 in Q3 2025 from $117,000 in Q3 2024, contributing to the overall decline in income before income taxes [4] Balance Sheet Highlights - As of September 30, 2025, total assets increased to $15,737,000 from $14,885,000 at the end of 2024, driven by higher current assets [7] - Cash and investments rose to approximately $10.6 million, up from $10.0 million at the end of 2024, reflecting a solid liquidity position [5][7] - Stockholders' equity increased to $14,688,000 from $14,333,000, indicating a strengthening financial position [7] Company Overview - Electro-Sensors, Inc. specializes in designing and manufacturing machine monitoring sensors and hazard monitoring systems, serving multiple industries [8][9] - The company is ISO9001:2015 certified, emphasizing its commitment to quality and customer service [8]

Core Viewpoint - CTS Corporation has declared a cash dividend of $0.04 per share and announced a new share repurchase program authorizing up to $100 million in buybacks [1][2]. Group 1: Dividend Declaration - The Board of Directors of CTS Corporation declared a cash dividend of $0.04 per share on outstanding shares of common stock [1]. - The dividend is scheduled to be paid on January 23, 2026, to shareholders of record at the close of business on December 26, 2025 [1]. Group 2: Share Repurchase Program - The new share repurchase program replaces the prior program approved in February 2024 [2]. - The program has no set expiration date and allows for repurchases in the open market or through privately negotiated transactions [2]. - The timing and actual amount of shares repurchased will depend on various factors, including market conditions [2]. Group 3: Company Overview - CTS Corporation is a leading designer and manufacturer of products that Sense, Connect, and Move [3]. - The company manufactures sensors, actuators, and electronic components in North America, Europe, and Asia [3]. - CTS provides engineered products to customers in the aerospace/defense, industrial, medical, and transportation markets [3].

Corning Incorporated (GLW) is a leading innovator specializing in glass and ceramics, with operations divided into five core business segments: Display Technologies, Optical Communications, Environmental Technologies, Specialty Materials, and Life Sciences. The company develops products for markets such as electronics, telecom networks, automotive filtration, advanced optics, and biomedical research, leveraging expertise in materials science and manufacturing to address evolving customer needs worldwide. ...

Core Insights - M-tron Industries, Inc. announced preliminary financial results for Q3 2025, highlighting revenue growth and changes in net income and gross margin compared to the previous year [1][3]. Financial Performance - **Revenues**: Estimated at $14.1 million for Q3 2025, up from $13.2 million in Q3 2024, representing a growth of approximately 6.7% [3]. - **Gross Margin**: Reported at 44.0% for Q3 2025, down from 47.8% in Q3 2024 [3]. - **Net Income**: Estimated at $1.8 million for Q3 2025, a decrease from $2.3 million in Q3 2024 [3]. - **Adjusted EBITDA**: Estimated at $3.18 million for Q3 2025, slightly down from $3.3 million in Q3 2024 [3][11]. Year-to-Date Performance - **Nine-Month Revenues**: Estimated at $40.1 million for the nine months ended September 30, 2025, compared to $36.2 million for the same period in 2024, indicating a growth of approximately 10.5% [3]. - **Nine-Month Net Income**: Estimated at $5.0 million for the nine months ended September 30, 2025, down from $5.5 million in 2024 [3]. Upcoming Events - M-tron will report full financial results for Q3 2025 on November 12, 2025, and will host a conference call on November 13, 2025, to discuss these results [2][4].

Third quarter Net Loss of $90.7M and Adjusted Net Income of $125.5M Continued value driver execution drove third quarter Adjusted EBITDA of $186.3M Third quarter Loss Per Diluted Share of $0.62 and Adjusted Earnings Per Diluted Share of $0.82 IMS add-on product lines acquired CLAYTON, Mo., Oct. 30, 2025 (GLOBE NEWSWIRE) -- Perimeter Solutions, Inc. (NYSE: PRM) (“Perimeter,” “Perimeter Solutions,” or the “Company”), a leading global solutions provider for the Fire Safety and Specialty Products industries, t ...

Financial Data and Key Metrics Changes - The company achieved sales of $5.9 billion in the first quarter, exceeding guidance and reflecting a 5% increase year-over-year and sequentially [4][10] - Adjusted EPS was $0.84, near the high end of guidance [4] - Gross margin for the quarter was 10.4%, down 42 basis points year-over-year and 15 basis points sequentially [10][11] - Adjusted operating income was $151 million, with an adjusted operating margin of 2.6% [12] Business Line Data and Key Metrics Changes - Electronic components sales increased by 5% year-over-year and sequentially [10][12] - Farnell sales grew by 50% year-over-year and 3% sequentially [10][12] - The Americas region showed year-over-year sales growth for the first time since fiscal 2023, while EMEA sales were flat year-over-year [4][10] Market Data and Key Metrics Changes - Sales in Asia grew by 10% year-over-year, now representing over half of electronic components sales [10][11] - EMEA sales were flat year-over-year and down 6% in constant currency [10] - The book-to-bill ratio improved globally, with all regions above parity [5] Company Strategy and Development Direction - The company is focused on balancing growth opportunities with inventory reductions and optimizing existing inventory [5][14] - There is an emphasis on strengthening supplier relationships and navigating market complexities [9] - The company aims to reduce leverage to approximately 3.0 times over the next year while maintaining a strong balance sheet [16] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about recovery in Asia and progress in the Americas, with stabilizing conditions in EMEA [8][9] - Geopolitical and market uncertainties remain, but the company believes its diverse customer base positions it well for recovery [8] - The company anticipates modest growth in the December quarter, particularly in Europe [31] Other Important Information - The company increased its quarterly dividend by approximately 6% to $0.35 per share [16] - The company repurchased approximately 2.6 million shares totaling $138 million during the quarter [16] Q&A Session Summary Question: Exposure to AI applications in data centers - Management indicated that exposure to hyperscalers is relatively small, around 7% of Asia's business, with opportunities in storage, connectivity, and power [19][20] Question: Inventory days and cash flow - Management acknowledged that inventory days were flattish and indicated a trend of declines in the electronic components business, with expectations to improve inventory days over time [21][24][25] Question: Demand profile in EMEA for December quarter - Management expects modest growth in Europe, indicating that bookings have been positive for a couple of quarters [31] Question: Incremental margins and geographic mix - Management noted that the return to year-over-year growth in total business should provide operating leverage and expand operating margins [32][34] Question: Potential price increases from suppliers - Management mentioned that certain technologies are seeing potential price increases, particularly in memory and interconnect products [36][37] Question: Core segment margins and future expectations - Management indicated that achieving core margins above 4% in fiscal 2026 is possible depending on mix shifts and seasonal impacts [40][42] Question: Farnell margins and revenue impacts - Management stated that Farnell margins could continue to grow, depending on product mix and market recovery [43][44] Question: Demand creation revenues and IP&E margins - Management provided that IP&E accounts for 15%-20% of total components business, with demand creation contributing 28%-33% [46]

Core Viewpoint - A-shares experienced a strong performance with significant gains across major indices, indicating positive market sentiment and potential investment opportunities driven by macroeconomic policies and structural reforms [1] Market Performance - The Shanghai Composite Index rose by 0.71% to close at 3950.31 points, marking a 10-year high - The Shenzhen Component Index increased by 2.02% to 13289.18 points - The ChiNext Index surged by 3.57% to 3171.57 points - The total trading volume in Shanghai, Shenzhen, and Beijing reached 1.99 trillion yuan, showing a substantial increase compared to the previous trading day [1][1][1] Sector Performance - Key sectors that saw significant gains included electronic components, semiconductors, and computer hardware - Notable concept sectors included CPO (optical modules), memory storage, selected components, and high-frequency PCBs, which performed exceptionally well [1][1][1] Policy Impact - The recent Fourth Plenary Session of the 20th Central Committee of the Communist Party of China is expected to provide clarity on the medium to long-term direction for the A-share market - According to Zhongyin Securities, the session's core significance lies in reinforcing structural certainty and aligning macro policies to support the upward movement of A-share market levels - The upcoming "14th Five-Year Plan" is anticipated to reshape the investment themes and valuation systems in the capital market [1][1][1]

Group 1 - Amphenol (NYSE: APH) reported strong earnings, exceeding expectations and demonstrating significant growth [1] - The company is recognized for its performance in the electronic components sector, indicating robust demand and operational efficiency [1] Group 2 - The report highlights Amphenol's ability to deliver consistent results, which may attract investor interest in the electronic components industry [1]

Core Insights - Amphenol (NYSE: APH) reported strong earnings, exceeding expectations and demonstrating significant growth in the latest quarter [1]. Company Performance - The earnings report from Amphenol indicates a continued trend of robust performance, with the company achieving impressive growth metrics [1]. Industry Context - The electronic components sector, represented by companies like Amphenol, is experiencing a period of strong demand and growth, contributing to positive earnings reports across the industry [1].