Amphenol (NYSE:APH) Sets New 52-Week High Following Analyst Upgrade

Amphenol Co. (NYSE:APH) hit a new 52-week high during trading 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 traded. The stock had previously closed at $119.01.

Several other research analysts have also commented on the stock. Robert W. Baird upped their price objective on shares of Amphenol from $123.00 to $124.00 and gave the stock an “outperform” rating in a report on Thursday. Stifel Nicolaus upped their price objective on shares of Amphenol from $88.00 to $95.00 and gave the stock a “hold” rating in a report on Thursday, January 25th. JPMorgan Chase & Co. upped their price objective on shares of Amphenol from $125.00 to $130.00 and gave the stock an “overweight” rating in a report on Thursday. Evercore ISI upped their target price on shares of Amphenol from $125.00 to $130.00 and gave the stock an “outperform” rating in a research report on Thursday. Finally, Bank of America upped their target price on shares of Amphenol from $121.00 to $124.00 and gave the stock a “buy” rating in a research report on Thursday. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $118.83.

Insider Activity at Amphenol

In related news, VP Lance E. D’amico sold 15,000 shares of the stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $104.75, for a total transaction of $1,571,250.00. Following the sale, the vice president now directly owns 25,700 shares of the company’s stock, valued at approximately $2,692,075. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, VP Lance E. D’amico sold 15,000 shares of the stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $104.75, for a total transaction of $1,571,250.00. Following the sale, the vice president now directly owns 25,700 shares of the company’s stock, valued at approximately $2,692,075. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider William J. Doherty sold 170,000 shares of the stock in a transaction dated Friday, February 2nd. The shares were 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 ninety days, insiders have sold 305,000 shares of company stock valued at $31,846,050. 1.80% of the stock is owned by insiders.

Institutional Trading of Amphenol

A number of institutional investors have recently made changes to their positions in APH. Norges Bank purchased a new stake in shares of Amphenol during the 4th quarter valued at about $1,078,167,000. Price T Rowe Associates Inc. MD boosted its holdings in shares of Amphenol by 39.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 29,245,014 shares of the electronics maker’s stock valued at $2,899,059,000 after acquiring an additional 8,340,759 shares during the last quarter. TD Asset Management Inc boosted its holdings in shares of Amphenol by 101.7% during the 4th quarter. TD Asset Management Inc now owns 1,987,076 shares of the electronics maker’s stock valued at $196,979,000 after acquiring an additional 1,001,901 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Amphenol by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 73,138,110 shares of the electronics maker’s stock valued at $7,250,181,000 after acquiring an additional 965,951 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado boosted its holdings in shares of Amphenol by 6,323.2% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 978,130 shares of the electronics maker’s stock valued at $96,962,000 after acquiring an additional 962,902 shares during the last quarter. Hedge funds and other institutional investors own 97.01% of the company’s stock.

Amphenol Stock Performance

The business’s fifty day moving average price is $112.04 and its 200-day moving average price is $99.81. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.48 and a current ratio of 2.06. The stock has a market cap of $72.48 billion, a PE ratio of 36.85, a P/E/G ratio of 3.13 and a beta of 1.30.

Amphenol (NYSE:APH) last issued its quarterly earnings data on Wednesday, April 24th. The electronics maker reported $0.80 earnings per share for the quarter, topping 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 firm had revenue of $3.26 billion for the quarter, compared to analysts’ expectations of $3.10 billion. During the same quarter in the prior year, the business earned $0.69 EPS. The business’s quarterly revenue was up 9.5% on a year-over-year basis. As a group, equities research analysts forecast that Amphenol Co. will post 3.34 EPS for the current fiscal year.

Amphenol Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 10th. Stockholders of record on Tuesday, March 19th were paid a $0.22 dividend. 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 dividend payout ratio (DPR) is presently 26.91%.

Amphenol declared that its Board of Directors has authorized a stock buyback program on Wednesday, April 24th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the electronics maker to buy up to 2.9% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership 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.