Amphenol (NYSE:APH) Price Target Raised to $124.00 at Bank of America

Amphenol (NYSE:APH) had its price target hoisted by analysts at Bank of America from $121.00 to $124.00 in a report issued on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the electronics maker’s stock. Bank of America‘s target price would indicate a potential upside of 2.91% from the stock’s previous close.

Several other research firms have also recently weighed in on APH. Citigroup raised their price objective on shares of Amphenol from $117.00 to $135.00 and gave the company a “buy” rating in a research report on Thursday, April 4th. JPMorgan Chase & Co. raised their price objective on shares of Amphenol from $118.00 to $125.00 and gave the company an “overweight” rating in a research report on Thursday, April 11th. The Goldman Sachs Group raised their price objective on shares of Amphenol from $107.00 to $119.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. Robert W. Baird raised their price objective on shares of Amphenol from $123.00 to $124.00 and gave the company an “outperform” rating in a research report on Thursday. Finally, Stifel Nicolaus lifted their target price on shares of Amphenol from $88.00 to $95.00 and gave the stock a “hold” rating in a research report on Thursday, January 25th. Four research 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 company presently has a consensus rating of “Moderate Buy” and a consensus target price of $118.83.

Amphenol Stock Up 1.2 %

Shares of NYSE:APH opened at $120.49 on Thursday. The firm has a fifty day moving average price of $112.04 and a two-hundred day moving average price of $99.70. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.06 and a quick ratio of 1.48. Amphenol has a one year low of $72.77 and a one year high of $121.25. The company has a market cap of $72.48 billion, a price-to-earnings ratio of 36.85, a PEG ratio of 3.10 and a beta of 1.30.

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

Amphenol declared that its board has initiated a stock buyback plan on Wednesday, April 24th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the electronics maker to purchase up to 2.9% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board believes its shares are undervalued.

Insider Activity

In other 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 transaction of $2,212,800.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Peter Straub sold 20,000 shares of the business’s 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 document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Craig A. Lampo sold 100,000 shares of the business’s stock in a transaction that occurred on 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 owns 147,045 shares of the company’s stock, valued at $15,391,200.15. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 305,000 shares of company stock worth $31,846,050. Insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Amphenol

A number of hedge funds have recently added to or reduced their stakes in APH. Peoples Bank KS purchased a new stake in Amphenol during the 3rd quarter valued at $27,000. Frazier Financial Advisors LLC purchased a new stake in Amphenol during the 4th quarter valued at $29,000. Mendota Financial Group LLC purchased a new stake in Amphenol during the 4th quarter valued at $33,000. Venturi Wealth Management LLC raised its stake in Amphenol by 75.5% during the 4th quarter. Venturi Wealth Management LLC now owns 330 shares of the electronics maker’s stock valued at $33,000 after buying an additional 142 shares during the last quarter. Finally, Avior Wealth Management LLC raised its stake in Amphenol by 70.8% during the 4th quarter. Avior Wealth Management LLC now owns 333 shares of the electronics maker’s stock valued at $33,000 after buying an additional 138 shares during the last quarter. 97.01% of the stock is currently owned by hedge funds and other institutional investors.

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.