Truist Financial Forecasts Strong Price Appreciation for Amphenol (NYSE:APH) Stock

Amphenol (NYSE:APH) had its price target boosted by Truist Financial from $102.00 to $126.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the electronics maker’s stock. Truist Financial’s price objective points to a potential upside of 20.04% from the company’s previous close.

APH has been the topic of a number of other research reports. JPMorgan Chase & Co. raised their target price on shares of Amphenol from $91.00 to $120.00 and gave the company an “overweight” rating in a research report on Thursday, July 17th. US Capital Advisors set a $85.00 target price on shares of Amphenol in a research report on Thursday, April 24th. UBS Group restated a “buy” rating and issued a $115.00 target price (up previously from $106.00) on shares of Amphenol in a research report on Monday, July 14th. Fox Advisors upgraded shares of Amphenol from an “equal weight” rating to an “overweight” rating and set a $85.00 target price on the stock in a research report on Thursday, April 24th. Finally, TD Securities raised their target price on shares of Amphenol from $63.00 to $70.00 and gave the company a “hold” rating in a research report on Thursday, May 1st. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $102.23.

Amphenol Stock Performance

NYSE APH opened at $104.96 on Thursday. The company has a current ratio of 2.02, a quick ratio of 1.36 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $126.96 billion, a price-to-earnings ratio of 41.82, a P/E/G ratio of 2.05 and a beta of 1.13. The firm’s 50 day simple moving average is $95.00 and its 200 day simple moving average is $78.41. Amphenol has a 1 year low of $54.77 and a 1 year high of $108.85.

Amphenol (NYSE:APH) last posted its quarterly earnings results on Wednesday, July 23rd. The electronics maker reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.15. Amphenol had a net margin of 16.90% and a return on equity of 30.58%. The business had revenue of $5.65 billion for the quarter, compared to analyst estimates of $5.01 billion. During the same quarter last year, the business posted $0.44 EPS. The firm’s revenue for the quarter was up 56.5% on a year-over-year basis. As a group, research analysts expect that Amphenol will post 2.36 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Luc Walter sold 286,000 shares of the business’s stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $91.43, for a total value of $26,148,980.00. Following the transaction, the insider directly owned 451,790 shares of the company’s stock, valued at $41,307,159.70. The trade was a 38.76% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider William J. Doherty sold 160,000 shares of the business’s stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $89.54, for a total value of $14,326,400.00. The disclosure for this sale can be found here. Insiders have sold 799,500 shares of company stock worth $70,053,885 in the last three months. Corporate insiders own 1.67% of the company’s stock.

Hedge Funds Weigh In On Amphenol

Institutional investors and hedge funds have recently modified their holdings of the business. NorthRock Partners LLC grew its stake in Amphenol by 48.9% in the second quarter. NorthRock Partners LLC now owns 13,830 shares of the electronics maker’s stock valued at $1,367,000 after acquiring an additional 4,543 shares during the period. Envestnet Portfolio Solutions Inc. increased its position in shares of Amphenol by 2.9% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 60,281 shares of the electronics maker’s stock worth $5,953,000 after acquiring an additional 1,698 shares in the last quarter. Oregon Public Employees Retirement Fund increased its position in shares of Amphenol by 0.5% during the second quarter. Oregon Public Employees Retirement Fund now owns 104,538 shares of the electronics maker’s stock worth $10,323,000 after acquiring an additional 500 shares in the last quarter. Sequoia Financial Advisors LLC increased its position in shares of Amphenol by 24.9% during the second quarter. Sequoia Financial Advisors LLC now owns 33,583 shares of the electronics maker’s stock worth $3,316,000 after acquiring an additional 6,690 shares in the last quarter. Finally, Vest Financial LLC increased its position in shares of Amphenol by 1.4% during the second quarter. Vest Financial LLC now owns 12,317 shares of the electronics maker’s stock worth $1,216,000 after acquiring an additional 175 shares in the last quarter. 97.01% of the stock is currently owned by 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.