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

Amphenol (NYSE:APH) had its target price increased by Bank of America from $121.00 to $124.00 in a research report sent to investors on Thursday, Benzinga reports. They currently have a buy rating on the electronics maker’s stock.

A number of other equities analysts have also recently issued reports on the company. Citigroup lifted their target price on Amphenol from $117.00 to $135.00 and gave the stock a buy rating in a report on Thursday, April 4th. UBS Group lifted their target price on Amphenol from $135.00 to $138.00 and gave the stock a buy rating in a report on Thursday. Stifel Nicolaus lifted their target price on Amphenol from $88.00 to $95.00 and gave the stock a hold rating in a report on Thursday, January 25th. Evercore ISI lifted their price target on Amphenol from $125.00 to $130.00 and gave the company an outperform rating in a report on Thursday. Finally, Jefferies Financial Group initiated coverage on Amphenol in a report on Tuesday, April 9th. They set a hold rating and a $125.00 price target on the stock. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of Moderate Buy and an average price target of $118.83.

Amphenol Price Performance

Shares of APH traded up $0.71 during midday trading on Thursday, reaching $119.72. The stock had a trading volume of 126,460 shares, compared to its average volume of 2,837,279. Amphenol has a 52 week low of $72.77 and a 52 week high of $119.94. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.06 and a quick ratio of 1.48. The firm’s 50 day moving average price is $111.74 and its 200-day moving average price is $99.44. The company has a market capitalization of $72.02 billion, a P/E ratio of 36.39, a P/E/G ratio of 3.10 and a beta of 1.30.

Amphenol (NYSE:APH) last posted its quarterly earnings data on Wednesday, April 24th. The electronics maker reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.07. Amphenol had a return on equity of 23.85% and a net margin of 15.87%. The company had revenue of $3.26 billion for the quarter, compared to the consensus estimate of $3.10 billion. During the same quarter in the previous year, the business earned $0.69 EPS. The company’s quarterly revenue was up 9.5% compared to the same quarter last year. On average, analysts forecast that Amphenol will post 3.29 earnings per share for the current fiscal year.

Amphenol announced that its Board of Directors has authorized a share repurchase program on Wednesday, April 24th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the electronics maker to buy up to 2.9% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

Amphenol Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 10th. Shareholders of record on Tuesday, March 19th were given a $0.22 dividend. The ex-dividend date was Monday, March 18th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.74%. Amphenol’s dividend payout ratio is currently 26.91%.

Insiders Place Their Bets

In other Amphenol news, CFO Craig A. Lampo sold 100,000 shares of the business’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $104.67, for a total value of $10,467,000.00. Following the completion of the sale, the chief financial officer now owns 147,045 shares of the company’s stock, valued at $15,391,200.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CFO Craig A. Lampo sold 100,000 shares of the business’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $104.67, for a total transaction of $10,467,000.00. Following the completion of the transaction, the chief financial officer now owns 147,045 shares of the company’s stock, valued at approximately $15,391,200.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider William J. Doherty sold 170,000 shares of the business’s stock in a transaction dated 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. Insiders sold 305,000 shares of company stock valued at $31,846,050 over the last quarter. Insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Amphenol

Several institutional investors and hedge funds have recently added to or reduced their stakes in APH. Vanguard Group Inc. grew its stake in shares of Amphenol by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 73,138,110 shares of the electronics maker’s stock valued at $7,250,181,000 after purchasing an additional 965,951 shares during the period. FMR LLC grew its position in Amphenol by 1.3% during the 3rd quarter. FMR LLC now owns 55,500,422 shares of the electronics maker’s stock worth $4,661,480,000 after acquiring an additional 691,964 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in Amphenol by 39.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 29,245,014 shares of the electronics maker’s stock worth $2,899,059,000 after acquiring an additional 8,340,759 shares during the last quarter. JPMorgan Chase & Co. grew its position in Amphenol by 4.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 15,279,911 shares of the electronics maker’s stock worth $1,283,360,000 after acquiring an additional 653,354 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its position in Amphenol by 0.5% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 13,212,184 shares of the electronics maker’s stock worth $1,309,724,000 after acquiring an additional 67,091 shares during 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.