Amphenol (NYSE:APH) PT Raised to $124.00 at Bank of America

Amphenol (NYSE:APH) had its price target hoisted by analysts at Bank of America from $121.00 to $124.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the electronics maker’s stock. Bank of America‘s target price points to a potential upside of 5.08% from the stock’s current price.

A number of other equities analysts have also issued reports on APH. Jefferies Financial Group began coverage on Amphenol in a report on Tuesday, April 9th. They issued a “hold” rating and a $125.00 price objective for the company. Robert W. Baird increased their price objective on Amphenol from $123.00 to $124.00 and gave the company an “outperform” rating in a research report on Thursday. Evercore ISI boosted their price target on shares of Amphenol from $125.00 to $130.00 and gave the company an “outperform” rating in a report on Thursday. UBS Group lifted their target price on Amphenol from $135.00 to $138.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Citigroup lifted their price objective on Amphenol from $117.00 to $135.00 and gave the company a “buy” rating in a research report on Thursday, April 4th. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $116.58.

Amphenol Stock Performance

Shares of APH traded up $1.70 during mid-day trading on Thursday, hitting $118.01. The stock had a trading volume of 2,050,937 shares, compared to its average volume of 2,840,594. The company has a quick ratio of 1.48, a current ratio of 2.17 and a debt-to-equity ratio of 0.47. The company has a market cap of $70.99 billion, a PE ratio of 37.88, a PEG ratio of 3.06 and a beta of 1.30. Amphenol has a fifty-two week low of $72.00 and a fifty-two week high of $119.59. The company’s fifty day simple moving average is $111.48 and its two-hundred day simple moving average is $99.30.

Amphenol (NYSE:APH) last issued its earnings results on Wednesday, April 24th. The electronics maker reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.07. Amphenol had a net margin of 15.36% and a return on equity of 23.94%. The company had revenue of $3.26 billion for the quarter, compared to analysts’ expectations of $3.10 billion. During the same period in the prior year, the company earned $0.69 earnings per share. The firm’s revenue was up 9.5% compared to the same quarter last year. On average, equities analysts expect that Amphenol will post 3.28 earnings per share for the current year.

Amphenol declared that its board has approved a share buyback program on Wednesday, April 24th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the electronics maker to purchase up to 2.9% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Insider Activity at Amphenol

In other Amphenol news, insider William J. Doherty sold 170,000 shares of the business’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $103.50, for a total value of $17,595,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, insider Peter Straub sold 20,000 shares of Amphenol stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $110.64, for a total value of $2,212,800.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider William J. Doherty sold 170,000 shares of the stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $103.50, for a total value of $17,595,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 305,000 shares of company stock worth $31,846,050. Insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Amphenol

Several large investors have recently added to or reduced their stakes in the business. Aaron Wealth Advisors LLC increased its holdings in Amphenol by 20.6% in the 1st quarter. Aaron Wealth Advisors LLC now owns 2,470 shares of the electronics maker’s stock worth $285,000 after acquiring an additional 422 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its stake in Amphenol by 193.1% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 39,076 shares of the electronics maker’s stock worth $4,507,000 after purchasing an additional 25,746 shares during the last quarter. Newbridge Financial Services Group Inc. purchased a new stake in Amphenol in the first quarter worth approximately $265,000. Premier Path Wealth Partners LLC bought a new stake in Amphenol in the first quarter worth $273,000. Finally, Dakota Wealth Management boosted its holdings in Amphenol by 7.4% during the 1st quarter. Dakota Wealth Management now owns 17,158 shares of the electronics maker’s stock valued at $1,979,000 after acquiring an additional 1,188 shares during the period. 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.