Amphenol (NYSE:APH) Hits New 12-Month High After Analyst Upgrade

Amphenol Co. (NYSE:APH)’s share price hit a new 52-week high on Friday after Truist Financial raised their price target on the stock from $121.00 to $136.00. Truist Financial currently has a buy rating on the stock. Amphenol traded as high as $120.22 and last traded at $120.13, with a volume of 326775 shares trading hands. The stock had previously closed at $119.01.

Several other equities research analysts have also recently issued reports on APH. Bank of America lifted their target price on shares of Amphenol from $121.00 to $124.00 and gave the stock a “buy” rating in a research note on Thursday. Citigroup increased their price objective on shares of Amphenol from $117.00 to $135.00 and gave the company a “buy” rating in a report on Thursday, April 4th. UBS Group boosted their target price on Amphenol from $135.00 to $138.00 and gave the stock a “buy” rating in a report on Thursday. Evercore ISI increased their price target on Amphenol from $125.00 to $130.00 and gave the company an “outperform” rating in a report on Thursday. Finally, Jefferies Financial Group started coverage on Amphenol in a research note on Tuesday, April 9th. They set a “hold” rating and a $125.00 price objective on the stock. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $118.83.

Insider Activity

In related news, insider William J. Doherty sold 170,000 shares of the stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $103.50, for a total transaction of $17,595,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Peter Straub sold 20,000 shares of Amphenol stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $110.64, for a total value of $2,212,800.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider William J. Doherty sold 170,000 shares of the stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $103.50, for a total transaction of $17,595,000.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 305,000 shares of company stock valued at $31,846,050. Company insiders own 1.80% of the company’s stock.

Institutional Trading of Amphenol

Large investors have recently modified their holdings of the stock. Frazier Financial Advisors LLC acquired a new stake in Amphenol in the 4th quarter valued at about $29,000. Peoples Bank KS purchased a new stake in shares of Amphenol during the 3rd quarter worth $27,000. WASHINGTON TRUST Co raised its stake in Amphenol by 88.2% in the first quarter. WASHINGTON TRUST Co now owns 320 shares of the electronics maker’s stock valued at $37,000 after buying an additional 150 shares in the last quarter. Venturi Wealth Management LLC lifted its holdings in Amphenol by 75.5% during the 4th quarter. Venturi Wealth Management LLC now owns 330 shares of the electronics maker’s stock worth $33,000 after buying an additional 142 shares during the last quarter. Finally, Avior Wealth Management LLC boosted its position in shares of Amphenol by 70.8% during the 4th quarter. Avior Wealth Management LLC now owns 333 shares of the electronics maker’s stock worth $33,000 after acquiring an additional 138 shares in the last quarter. Hedge funds and other institutional investors own 97.01% of the company’s stock.

Amphenol Trading Up 1.2 %

The company has a current ratio of 2.06, a quick ratio of 1.48 and a debt-to-equity ratio of 0.41. The firm has a market cap of $72.48 billion, a PE ratio of 36.85, a P/E/G ratio of 3.10 and a beta of 1.30. The business has a fifty day moving average price of $112.04 and a 200 day moving average price of $99.70.

Amphenol (NYSE:APH) last announced its quarterly earnings results on Wednesday, April 24th. The electronics maker reported $0.80 EPS for the quarter, beating the consensus estimate of $0.73 by $0.07. Amphenol had a net margin of 15.87% and a return on equity of 23.85%. The company had revenue of $3.26 billion for the quarter, compared to analyst estimates of $3.10 billion. During the same period in the prior year, the firm posted $0.69 earnings per share. The firm’s revenue was up 9.5% on a year-over-year basis. Analysts forecast that Amphenol Co. will post 3.29 EPS for the current year.

Amphenol Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 10th. Shareholders of record on Tuesday, March 19th were issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 0.73%. The ex-dividend date of this dividend was Monday, March 18th. Amphenol’s payout ratio is 26.91%.

Amphenol announced that its board has authorized a stock buyback plan on Wednesday, April 24th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the electronics maker to repurchase up to 2.9% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its shares are undervalued.

Amphenol Company Profile

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.