Amphenol (NYSE:APH) Sets New 52-Week High – Here’s Why

Amphenol Co. (NYSE:APH) shares hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $71.20 and last traded at $69.52, with a volume of 3152020 shares traded. The stock had previously closed at $66.85.

Analyst Ratings Changes

A number of brokerages have recently commented on APH. UBS Group upped their price target on Amphenol from $69.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Truist Financial upped their target price on shares of Amphenol from $74.50 to $76.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Robert W. Baird decreased their price target on shares of Amphenol from $72.00 to $70.00 and set an “outperform” rating for the company in a report on Thursday, July 25th. Bank of America dropped their price objective on Amphenol from $71.00 to $70.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 9th. Finally, Vertical Research started coverage on Amphenol in a research note on Tuesday, July 23rd. They issued a “hold” rating and a $65.00 target price for the company. Five analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $66.50.

Amphenol Stock Up 3.8 %

The firm’s 50 day simple moving average is $64.88 and its 200-day simple moving average is $64.44. The company has a current ratio of 2.02, a quick ratio of 1.32 and a debt-to-equity ratio of 0.56. The stock has a market capitalization of $83.39 billion, a price-to-earnings ratio of 43.47, a price-to-earnings-growth ratio of 2.56 and a beta of 1.24.

Amphenol (NYSE:APH) last issued its quarterly earnings results on Wednesday, July 24th. The electronics maker reported $0.44 EPS for the quarter, beating the consensus estimate of $0.41 by $0.03. The firm had revenue of $3.61 billion during the quarter, compared to analysts’ expectations of $3.39 billion. Amphenol had a return on equity of 24.08% and a net margin of 15.69%. The business’s quarterly revenue was up 18.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.72 earnings per share. Equities analysts expect that Amphenol Co. will post 1.76 earnings per share for the current fiscal year.

Insider Activity

In other Amphenol news, CEO Richard Adam Norwitt sold 750,000 shares of the stock in a transaction on Friday, July 26th. The shares were sold at an average price of $64.54, for a total value of $48,405,000.00. Following the completion of the sale, the chief executive officer now owns 1,934,848 shares in the company, valued at $124,875,089.92. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, CEO Richard Adam Norwitt sold 750,000 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $64.54, for a total value of $48,405,000.00. Following the completion of the sale, the chief executive officer now directly owns 1,934,848 shares of the company’s stock, valued at $124,875,089.92. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Luc Walter sold 106,000 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $64.19, for a total value of $6,804,140.00. Following the transaction, the insider now directly owns 447,790 shares in the company, valued at $28,743,640.10. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,516,000 shares of company stock valued at $98,236,640. 1.80% of the stock is owned by insiders.

Institutional Trading of Amphenol

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Revolve Wealth Partners LLC acquired a new stake in Amphenol in the 1st quarter worth about $208,000. Wealth Enhancement Advisory Services LLC increased its position in Amphenol by 15.0% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 54,073 shares of the electronics maker’s stock worth $6,237,000 after purchasing an additional 7,054 shares in the last quarter. Transform Wealth LLC lifted its stake in Amphenol by 16.4% in the 1st quarter. Transform Wealth LLC now owns 3,996 shares of the electronics maker’s stock valued at $462,000 after purchasing an additional 564 shares during the last quarter. Harbour Capital Advisors LLC boosted its position in Amphenol by 2.9% in the first quarter. Harbour Capital Advisors LLC now owns 15,703 shares of the electronics maker’s stock valued at $1,775,000 after buying an additional 440 shares in the last quarter. Finally, Asio Capital LLC acquired a new position in shares of Amphenol during the first quarter worth $2,174,000. Institutional investors own 97.01% of the company’s stock.

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.