Amphenol (NYSE:APH) Price Target Raised to $149.00

Amphenol (NYSE:APH) had its target price lifted by Truist Financial from $136.00 to $149.00 in a research note published on Friday morning, Benzinga reports. Truist Financial currently has a buy rating on the electronics maker’s stock.

Several other equities analysts have also recently issued reports on APH. Seaport Res Ptn upgraded Amphenol to a strong-buy rating in a research note on Monday, May 20th. UBS Group lifted their price objective on Amphenol from $135.00 to $138.00 and gave the company a buy rating in a research note on Thursday, April 25th. Jefferies Financial Group began coverage on Amphenol in a research note on Tuesday, April 9th. They issued a hold rating and a $125.00 price objective for the company. Bank of America lifted their price objective on Amphenol from $137.00 to $144.00 and gave the company a buy rating in a research note on Friday, May 17th. Finally, Robert W. Baird upped their price target on Amphenol from $123.00 to $124.00 and gave the company an outperform rating in a report on Thursday, April 25th. Three research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and an average target price of $125.64.

Amphenol Stock Performance

NYSE APH opened at $136.24 on Friday. The company has a market cap of $81.83 billion, a P/E ratio of 41.66, a P/E/G ratio of 3.17 and a beta of 1.27. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.06 and a quick ratio of 1.43. The stock has a 50-day moving average of $119.79 and a two-hundred day moving average of $106.45. Amphenol has a 1-year low of $73.29 and a 1-year high of $138.59.

Shares of Amphenol are set to split on the morning of Wednesday, June 12th. The 2-1 split was announced on Wednesday, June 12th. The newly created shares will be issued to shareholders after the market closes on Wednesday, June 12th.

Amphenol (NYSE:APH) last released its earnings results on Wednesday, April 24th. The electronics maker reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.07. The company had revenue of $3.26 billion during the quarter, compared to the consensus estimate of $3.10 billion. Amphenol had a return on equity of 23.85% and a net margin of 15.87%. Amphenol’s revenue was up 9.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.69 EPS. As a group, analysts anticipate that Amphenol will post 3.38 EPS for the current year.

Amphenol Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 10th. Stockholders of record on Tuesday, June 18th will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 0.65%. The ex-dividend date is Tuesday, June 18th. Amphenol’s payout ratio is currently 26.91%.

Amphenol announced that its board has authorized a stock buyback plan on Wednesday, April 24th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the electronics maker to purchase up to 2.9% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Insider Activity

In other news, insider Luc Walter sold 115,000 shares of the stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $135.14, for a total value of $15,541,100.00. Following the completion of the sale, the insider now directly owns 198,640 shares of the company’s stock, valued at $26,844,209.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Peter Straub sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $110.64, for a total transaction of $2,212,800.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Luc Walter sold 115,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $135.14, for a total value of $15,541,100.00. Following the sale, the insider now owns 198,640 shares of the company’s stock, valued at approximately $26,844,209.60. The disclosure for this sale can be found here. Corporate insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Amphenol

Several large investors have recently modified their holdings of the stock. B. Riley Wealth Advisors Inc. raised its stake in shares of Amphenol by 0.3% during the first quarter. B. Riley Wealth Advisors Inc. now owns 31,286 shares of the electronics maker’s stock worth $3,609,000 after purchasing an additional 80 shares during the last quarter. Atomi Financial Group Inc. raised its position in Amphenol by 1.7% in the first quarter. Atomi Financial Group Inc. now owns 4,720 shares of the electronics maker’s stock worth $544,000 after acquiring an additional 81 shares in the last quarter. Lindbrook Capital LLC raised its position in Amphenol by 2.0% in the first quarter. Lindbrook Capital LLC now owns 4,245 shares of the electronics maker’s stock worth $490,000 after acquiring an additional 85 shares in the last quarter. Pinnacle Wealth Planning Services Inc. raised its position in Amphenol by 1.5% in the first quarter. Pinnacle Wealth Planning Services Inc. now owns 6,076 shares of the electronics maker’s stock worth $701,000 after acquiring an additional 88 shares in the last quarter. Finally, Nicolet Advisory Services LLC raised its position in Amphenol by 3.4% in the first quarter. Nicolet Advisory Services LLC now owns 2,724 shares of the electronics maker’s stock worth $313,000 after acquiring an additional 89 shares in the last quarter. Hedge funds and other 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.