Amphenol (NYSE:APH) PT Raised to $75.00 at Bank of America

Amphenol (NYSE:APH) had its price objective raised by research analysts at Bank of America from $72.00 to $75.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the electronics maker’s stock. Bank of America‘s price objective would indicate a potential upside of 7.87% from the stock’s previous close.

A number of other equities analysts have also issued reports on the company. JPMorgan Chase & Co. raised their price target on Amphenol from $62.50 to $65.00 and gave the stock an “overweight” rating in a report on Thursday, April 25th. Truist Financial upped their price target on Amphenol from $68.00 to $74.50 and gave the stock a “buy” rating in a research note on Friday, May 24th. Stifel Nicolaus reissued a “hold” rating on shares of Amphenol in a research note on Thursday, June 13th. Seaport Res Ptn upgraded shares of Amphenol to a “strong-buy” rating in a research report on Monday, May 20th. Finally, UBS Group lifted their target price on shares of Amphenol from $67.50 to $69.00 and gave the company a “buy” rating in a report on Thursday, April 25th. Four research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Amphenol currently has an average rating of “Moderate Buy” and an average price target of $64.58.

Amphenol Stock Down 0.7 %

Shares of NYSE APH opened at $69.53 on Wednesday. The stock has a market cap of $83.52 billion, a PE ratio of 42.53, a price-to-earnings-growth ratio of 3.17 and a beta of 1.25. Amphenol has a 52-week low of $39.34 and a 52-week high of $70.84. The business has a 50-day moving average price of $66.82 and a 200 day moving average price of $58.20. The company has a quick ratio of 1.43, a current ratio of 2.06 and a debt-to-equity ratio of 0.41.

Amphenol (NYSE:APH) last announced its earnings results on Wednesday, April 24th. The electronics maker reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.04. Amphenol had a net margin of 15.87% and a return on equity of 23.85%. The business had revenue of $3.26 billion for the quarter, compared to analysts’ expectations of $3.10 billion. During the same period in the previous year, the company posted $0.35 EPS. The company’s quarterly revenue was up 9.5% on a year-over-year basis. Equities research analysts forecast that Amphenol will post 1.69 earnings per share for the current year.

Amphenol announced that its board has approved a stock repurchase 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 repurchase up to 2.9% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

Insider Activity at Amphenol

In other Amphenol news, insider Luc Walter sold 230,000 shares of Amphenol stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $67.57, for a total transaction of $15,541,100.00. Following the completion of the transaction, the insider now owns 397,280 shares in the company, valued at $26,844,209.60. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.80% of the stock is owned by corporate insiders.

Institutional Trading of Amphenol

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in shares of Amphenol by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 73,459,971 shares of the electronics maker’s stock worth $8,473,608,000 after purchasing an additional 321,861 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Amphenol by 6.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 31,224,036 shares of the electronics maker’s stock worth $3,601,694,000 after purchasing an additional 1,979,022 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in shares of Amphenol by 0.5% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 13,212,184 shares of the electronics maker’s stock worth $1,309,724,000 after purchasing an additional 67,091 shares during the last quarter. Norges Bank purchased a new stake in shares of Amphenol in the fourth quarter valued at $1,078,167,000. Finally, Franklin Resources Inc. increased its stake in Amphenol by 0.5% in the fourth quarter. Franklin Resources Inc. now owns 4,015,628 shares of the electronics maker’s stock valued at $398,069,000 after purchasing an additional 20,521 shares during the last quarter. 97.01% of the stock is currently owned by hedge funds and other institutional investors.

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.