Jennison Associates LLC Buys New Stake in Amphenol Corporation $APH

Jennison Associates LLC bought a new position in shares of Amphenol Corporation (NYSE:APH) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 2,326,847 shares of the electronics maker’s stock, valued at approximately $287,947,000. Jennison Associates LLC owned about 0.19% of Amphenol at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Norges Bank bought a new stake in Amphenol during the 2nd quarter valued at approximately $2,104,244,000. Holocene Advisors LP lifted its holdings in shares of Amphenol by 201.2% during the second quarter. Holocene Advisors LP now owns 3,867,434 shares of the electronics maker’s stock worth $381,909,000 after buying an additional 2,583,628 shares during the last quarter. Stonehage Fleming Financial Services Holdings Ltd acquired a new stake in shares of Amphenol in the second quarter worth $225,757,000. Geode Capital Management LLC increased its position in Amphenol by 8.4% during the second quarter. Geode Capital Management LLC now owns 28,513,760 shares of the electronics maker’s stock worth $2,804,338,000 after acquiring an additional 2,217,079 shares during the period. Finally, 1832 Asset Management L.P. raised its stake in Amphenol by 8,384.3% during the 2nd quarter. 1832 Asset Management L.P. now owns 1,802,819 shares of the electronics maker’s stock valued at $178,028,000 after purchasing an additional 1,781,570 shares during the last quarter. 97.01% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Bank of America upgraded shares of Amphenol from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $120.00 to $150.00 in a report on Wednesday, October 15th. Citigroup restated a “buy” rating and set a $175.00 price target (up from $160.00) on shares of Amphenol in a research note on Monday, January 12th. Evercore ISI reaffirmed an “outperform” rating and issued a $165.00 price target on shares of Amphenol in a report on Tuesday. Wall Street Zen lowered Amphenol from a “strong-buy” rating to a “buy” rating in a report on Sunday, November 2nd. Finally, Truist Financial set a $182.00 target price on Amphenol in a research note on Tuesday, January 13th. Eleven investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, Amphenol presently has a consensus rating of “Moderate Buy” and an average price target of $147.62.

Amphenol Stock Performance

Amphenol stock opened at $150.97 on Friday. The firm has a market capitalization of $184.79 billion, a P/E ratio of 50.32, a P/E/G ratio of 0.96 and a beta of 1.21. The stock has a fifty day moving average price of $139.45 and a two-hundred day moving average price of $125.44. Amphenol Corporation has a 52-week low of $56.45 and a 52-week high of $157.54. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.07 and a quick ratio of 1.52.

Amphenol (NYSE:APH) last announced its earnings results on Wednesday, October 22nd. The electronics maker reported $0.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.79 by $0.14. Amphenol had a net margin of 18.22% and a return on equity of 33.46%. The business had revenue of $6.19 billion during the quarter, compared to analysts’ expectations of $5.54 billion. During the same quarter last year, the company posted $0.50 EPS. The firm’s revenue for the quarter was up 53.4% on a year-over-year basis. As a group, analysts anticipate that Amphenol Corporation will post 2.36 EPS for the current fiscal year.

Insider Activity

In related news, VP David M. Silverman sold 120,000 shares of the firm’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $141.17, for a total transaction of $16,940,400.00. Following the completion of the sale, the vice president directly owned 12,500 shares of the company’s stock, valued at $1,764,625. This trade represents a 90.57% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Lance E. D’amico sold 120,000 shares of Amphenol stock in a transaction on Wednesday, October 29th. The shares were sold at an average price of $140.01, for a total value of $16,801,200.00. Following the completion of the transaction, the vice president owned 76,400 shares of the company’s stock, valued at approximately $10,696,764. The trade was a 61.10% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 698,076 shares of company stock worth $99,081,306. Corporate insiders own 1.67% of the company’s stock.

Amphenol Profile

Amphenol Corporation (NYSE: APH) is a leading global manufacturer of electronic and fiber optic connectors, interconnect systems, and related components. The company designs, engineers and produces a broad range of products including electrical connectors, cable assemblies, fiber optic solutions, sensors, antennas and electromechanical devices used to transfer power, signal and data across complex systems. Its product portfolio spans ruggedized connectors for harsh environments to high-speed solutions for data centers and telecommunications networks.

Amphenol serves a diverse set of end markets, including automotive, broadband and telecom, data communications, mobile devices, industrial, energy, and military/aerospace.