SVB Wealth LLC Buys 24,926 Shares of Amphenol Corporation $APH

SVB Wealth LLC grew its position in shares of Amphenol Corporation (NYSE:APH) by 99.9% in the 3rd quarter, Holdings Channel reports. The firm owned 49,875 shares of the electronics maker’s stock after acquiring an additional 24,926 shares during the quarter. SVB Wealth LLC’s holdings in Amphenol were worth $4,204,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Corient Private Wealth LP lifted its stake in Amphenol by 3,010.0% in the second quarter. Corient Private Wealth LP now owns 16,437,431 shares of the electronics maker’s stock valued at $2,898,248,000 after buying an additional 15,908,901 shares during the period. State Street Corp raised its holdings in shares of Amphenol by 24.2% during the second quarter. State Street Corp now owns 71,281,059 shares of the electronics maker’s stock valued at $12,107,146,000 after purchasing an additional 13,884,641 shares during the period. Jupiter Topco LLC bought a new position in shares of Amphenol during the 2nd quarter worth about $1,600,531,000. Sumitomo Mitsui Trust Group Inc. boosted its position in shares of Amphenol by 90.9% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 7,900,956 shares of the electronics maker’s stock worth $666,051,000 after purchasing an additional 3,761,224 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its position in shares of Amphenol by 116.4% during the 3rd quarter. Russell Investments Group Ltd. now owns 4,465,041 shares of the electronics maker’s stock worth $376,413,000 after purchasing an additional 2,401,550 shares in the last quarter. 97.01% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Amphenol

In related news, CEO Richard Norwitt sold 799,576 shares of Amphenol stock in a transaction on Monday, November 2nd. The stock was sold at an average price of $82.48, for a total transaction of $65,949,028.48. Following the completion of the sale, the chief executive officer owned 3,855,014 shares of the company’s stock, valued at approximately $317,961,554.72. This trade represents a 17.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.42% of the company’s stock.

Amphenol Price Performance

Shares of NYSE:APH opened at $79.81 on Friday. The company has a quick ratio of 1.42, a current ratio of 1.94 and a debt-to-equity ratio of 0.99. The firm has a market capitalization of $197.07 billion, a PE ratio of 34.70, a P/E/G ratio of 0.94 and a beta of 1.27. Amphenol Corporation has a twelve month low of $59.01 and a twelve month high of $89.93. The company has a 50-day moving average price of $81.30 and a two-hundred day moving average price of $75.60.

Amphenol (NYSE:APH) last issued its earnings results on Wednesday, October 28th. The electronics maker reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.73 by $0.07. Amphenol had a net margin of 17.95% and a return on equity of 42.53%. The business had revenue of $10.23 billion for the quarter, compared to analysts’ expectations of $9.49 billion. During the same quarter in the previous year, the firm posted $0.93 EPS. The business’s revenue for the quarter was up 65.1% compared to the same quarter last year. Equities analysts forecast that Amphenol Corporation will post 2.83 EPS for the current year.

Amphenol declared that its Board of Directors has approved a stock repurchase plan on Wednesday, October 28th that permits the company to buy back $4 billion in shares. This buyback authorization permits the electronics maker to repurchase up to 2% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s management believes its shares are undervalued.

Amphenol Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 13th. Stockholders of record on Tuesday, December 22nd will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.8%. This is a decrease from Amphenol’s previous quarterly dividend of $0.25. The ex-dividend date is Tuesday, December 22nd. Amphenol’s dividend payout ratio (DPR) is 21.74%.

Analysts Set New Price Targets

APH has been the topic of a number of research reports. Wall Street Zen raised Amphenol from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. TD Cowen reduced their price objective on Amphenol from $175.00 to $90.00 and set a “hold” rating for the company in a research note on Wednesday, September 9th. Citigroup restated a “buy” rating and set a $115.00 price objective (up from $112.00) on shares of Amphenol in a report on Thursday, October 29th. Zacks Research raised Amphenol from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 30th. Finally, Weiss Ratings upgraded shares of Amphenol from a “buy (b)” rating to a “buy (b+)” rating in a report on Monday. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $107.00.

Amphenol Profile

Amphenol Corporation designs, manufactures and markets electrical, electronic and fiber-optic connectors, interconnect systems, antennas and sensor products. Its offerings also include cable assemblies and related components used to transmit signals and power in electronic equipment and systems. The company serves customers in a range of markets, including communications and information technology, automotive, aerospace and defense, industrial, mobile devices and data networks. Its products are used in applications such as vehicles, communications infrastructure, commercial aircraft and industrial equipment.