Amphenol (NYSE:APH) Given New $82.00 Price Target at Citigroup

Amphenol (NYSE:APH) had its price target raised by analysts at Citigroup from $81.00 to $82.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the electronics maker’s stock. Citigroup’s price objective points to a potential upside of 18.02% from the company’s current price.

APH has been the subject of a number of other research reports. Bank of America raised their price target on shares of Amphenol from $70.00 to $74.00 and gave the stock a “neutral” rating in a report on Thursday, October 24th. TD Cowen boosted their target price on shares of Amphenol from $60.00 to $63.00 and gave the company a “hold” rating in a research report on Friday, October 25th. Robert W. Baird lifted their price objective on Amphenol from $71.00 to $77.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Evercore ISI upped their target price on Amphenol from $75.00 to $80.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Finally, Truist Financial boosted their price target on Amphenol from $76.00 to $82.00 and gave the company a “buy” rating in a report on Thursday, October 24th. 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $69.79.

Amphenol Stock Down 0.5 %

Shares of APH traded down $0.38 during midday trading on Friday, hitting $69.48. 5,144,584 shares of the company’s stock traded hands, compared to its average volume of 5,644,729. Amphenol has a 1 year low of $47.76 and a 1 year high of $75.78. The firm’s fifty day moving average is $71.99 and its 200-day moving average is $67.72. The company has a current ratio of 1.99, a quick ratio of 1.33 and a debt-to-equity ratio of 0.53. The stock has a market capitalization of $83.77 billion, a price-to-earnings ratio of 39.93, a price-to-earnings-growth ratio of 2.01 and a beta of 1.24.

Amphenol (NYSE:APH) last posted its quarterly earnings results on Wednesday, October 23rd. The electronics maker reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.05. The business had revenue of $4.04 billion during the quarter, compared to analysts’ expectations of $3.81 billion. Amphenol had a net margin of 15.40% and a return on equity of 24.68%. The business’s quarterly revenue was up 26.3% on a year-over-year basis. During the same quarter last year, the company posted $0.39 earnings per share. As a group, sell-side analysts anticipate that Amphenol will post 1.84 earnings per share for the current year.

Insider Buying and Selling at Amphenol

In other news, insider Peter Straub sold 132,000 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $74.12, for a total value of $9,783,840.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Richard Adam Norwitt sold 900,672 shares of the company’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $68.81, for a total transaction of $61,975,240.32. Following the completion of the sale, the chief executive officer now owns 1,934,848 shares of the company’s stock, valued at approximately $133,136,890.88. This trade represents a 31.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,842,672 shares of company stock valued at $128,858,080 in the last quarter. Corporate insiders own 1.80% of the company’s stock.

Institutional Trading of Amphenol

Several institutional investors and hedge funds have recently added to or reduced their stakes in APH. Moors & Cabot Inc. increased its position in Amphenol by 87.6% during the 2nd quarter. Moors & Cabot Inc. now owns 4,088 shares of the electronics maker’s stock worth $275,000 after purchasing an additional 1,909 shares during the period. Wealth Alliance boosted its position in Amphenol by 98.4% during the second quarter. Wealth Alliance now owns 5,196 shares of the electronics maker’s stock worth $350,000 after purchasing an additional 2,577 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. grew its holdings in Amphenol by 119.5% in the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 28,226 shares of the electronics maker’s stock valued at $1,902,000 after purchasing an additional 15,366 shares during the last quarter. XTX Topco Ltd purchased a new position in shares of Amphenol in the second quarter valued at $242,000. Finally, Intech Investment Management LLC boosted its position in shares of Amphenol by 80.2% in the 2nd quarter. Intech Investment Management LLC now owns 23,225 shares of the electronics maker’s stock worth $1,565,000 after buying an additional 10,337 shares in the last quarter. 97.01% of the stock is owned by hedge funds and other institutional investors.

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.