Amphenol (NYSE:APH) to Buyback $2.00 billion in Shares

Amphenol (NYSE:APH) declared that its board has approved a stock repurchase program on Wednesday, April 24th, RTT News reports. The company plans to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the electronics maker to buy up to 2.9% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Amphenol Stock Up 2.3 %

Shares of NYSE:APH opened at $119.00 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.17 and a quick ratio of 1.48. The firm has a market capitalization of $71.59 billion, a PE ratio of 38.26, a price-to-earnings-growth ratio of 3.06 and a beta of 1.30. The firm’s 50-day moving average is $111.74 and its two-hundred day moving average is $99.44. Amphenol has a 1 year low of $72.00 and a 1 year high of $119.59.

Amphenol (NYSE:APH) last issued its quarterly earnings results on Wednesday, April 24th. The electronics maker reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.73 by $0.07. The company had revenue of $3.26 billion for the quarter, compared to analyst estimates of $3.10 billion. Amphenol had a net margin of 15.36% and a return on equity of 23.94%. The business’s revenue for the quarter was up 9.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.69 earnings per share. Analysts predict that Amphenol will post 3.28 EPS for the current year.

Amphenol Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 10th. Shareholders of record on Tuesday, March 19th were paid a dividend of $0.22 per share. The ex-dividend date was Monday, March 18th. This represents a $0.88 dividend on an annualized basis and a yield of 0.74%. Amphenol’s dividend payout ratio (DPR) is presently 28.30%.

Analysts Set New Price Targets

APH has been the topic of several analyst reports. Jefferies Financial Group initiated coverage on Amphenol in a report on Tuesday, April 9th. They set a “hold” rating and a $125.00 price target on the stock. The Goldman Sachs Group lifted their price target on Amphenol from $107.00 to $119.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. UBS Group lifted their price target on Amphenol from $135.00 to $138.00 and gave the stock a “buy” rating in a report on Thursday. Evercore ISI boosted their price objective on shares of Amphenol from $125.00 to $130.00 and gave the company an “outperform” rating in a report on Thursday. Finally, Bank of America boosted their price objective on shares of Amphenol from $121.00 to $124.00 and gave the company a “buy” rating in a report on Thursday. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $118.83.

Insiders Place Their Bets

In other news, CFO Craig A. Lampo sold 100,000 shares of the business’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $104.67, for a total transaction of $10,467,000.00. Following the completion of the transaction, the chief financial officer now directly owns 147,045 shares of the company’s stock, valued at $15,391,200.15. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, CFO Craig A. Lampo sold 100,000 shares of the business’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $104.67, for a total transaction of $10,467,000.00. Following the completion of the transaction, the chief financial officer now directly owns 147,045 shares of the company’s stock, valued at $15,391,200.15. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Peter Straub sold 20,000 shares of the business’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $110.64, for a total value of $2,212,800.00. The disclosure for this sale can be found here. Insiders have sold 305,000 shares of company stock worth $31,846,050 over the last three months. Company insiders own 1.80% of the company’s stock.

About Amphenol

Amphenol Corporation, together with its subsidiaries, primarily designs, manufactures, and markets electrical, electronic, and fiber optic connectors in the United States, China, and internationally. It operates through three segments: Harsh Environment Solutions, Communications Solutions, and Interconnect and Sensor Systems.