Truist Financial Raises Amphenol (NYSE:APH) Price Target to $76.00

Amphenol (NYSE:APH) had its price target boosted by Truist Financial from $74.50 to $76.00 in a research report report published on Thursday, Benzinga reports. They currently have a buy rating on the electronics maker’s stock.

APH has been the topic of several other reports. Vertical Research assumed coverage on shares of Amphenol in a report on Tuesday, July 23rd. They set a hold rating and a $65.00 price target on the stock. JPMorgan Chase & Co. upped their target price on Amphenol from $62.50 to $65.00 and gave the company an overweight rating in a report on Thursday, April 25th. Jefferies Financial Group assumed coverage on Amphenol in a report on Tuesday, April 9th. They set a hold rating and a $62.50 price target on the stock. Evercore ISI restated an outperform rating on shares of Amphenol in a research note on Thursday, June 13th. Finally, Citigroup lifted their target price on Amphenol from $67.50 to $80.00 and gave the stock a buy rating in a research note on Tuesday, May 28th. Five equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average target price of $65.35.

Amphenol Price Performance

APH stock opened at $63.86 on Thursday. The company has a market capitalization of $76.71 billion, a P/E ratio of 39.18, a price-to-earnings-growth ratio of 2.94 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 simple moving average of $67.26 and a two-hundred day simple moving average of $59.66. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.43 and a current ratio of 2.02.

Amphenol (NYSE:APH) last announced its earnings results on Wednesday, July 24th. The electronics maker reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.03. Amphenol had a return on equity of 24.08% and a net margin of 15.69%. The company had revenue of $3.61 billion for the quarter, compared to analysts’ expectations of $3.39 billion. During the same quarter in the previous year, the firm earned $0.72 earnings per share. Amphenol’s quarterly revenue was up 18.2% on a year-over-year basis. Research analysts expect that Amphenol will post 1.73 EPS for the current fiscal year.

Amphenol Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 9th. Shareholders of record on Tuesday, September 17th will be given a dividend of $0.165 per share. The ex-dividend date is Tuesday, September 17th. This represents a $0.66 dividend on an annualized basis and a yield of 1.03%. Amphenol’s dividend payout ratio is presently 40.49%.

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

Insiders Place Their Bets

In other Amphenol news, insider Luc Walter sold 230,000 shares of the 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 Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Amphenol

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Beacon Capital Management LLC lifted its holdings in shares of Amphenol by 121.2% in the second quarter. Beacon Capital Management LLC now owns 376 shares of the electronics maker’s stock worth $25,000 after buying an additional 206 shares in the last quarter. Frazier Financial Advisors LLC purchased a new stake in shares of Amphenol in the fourth quarter worth about $29,000. Opal Wealth Advisors LLC purchased a new stake in shares of Amphenol in the second quarter worth about $29,000. New Millennium Group LLC purchased a new stake in shares of Amphenol in the second quarter worth about $31,000. Finally, Albion Financial Group UT lifted its holdings in shares of Amphenol by 100.0% in the second quarter. Albion Financial Group UT now owns 468 shares of the electronics maker’s stock worth $32,000 after buying an additional 234 shares in the last quarter. Institutional investors own 97.01% of the company’s stock.

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.