Amphenol (NYSE:APH) Price Target Raised to $85.00 at Bank of America

Amphenol (NYSE:APH) had its price target hoisted by Bank of America from $75.00 to $85.00 in a research report released on Thursday,Benzinga reports. Bank of America currently has a neutral rating on the electronics maker’s stock.

A number of other equities research analysts have also recently weighed in on APH. Citigroup boosted their price objective on Amphenol from $81.00 to $82.00 and gave the company a “buy” rating in a research note on Friday, January 17th. JPMorgan Chase & Co. upped their price target on shares of Amphenol from $85.00 to $90.00 and gave the company an “overweight” rating in a research report on Thursday. Truist Financial increased their price target on shares of Amphenol from $76.00 to $82.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. TD Cowen lifted their price objective on shares of Amphenol from $60.00 to $63.00 and gave the company a “hold” rating in a research note on Friday, October 25th. Finally, Robert W. Baird increased their target price on shares of Amphenol from $85.00 to $89.00 and gave the stock an “outperform” rating in a research note on Thursday. Five analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Amphenol currently has an average rating of “Moderate Buy” and an average price target of $77.92.

Amphenol Trading Up 0.9 %

Shares of Amphenol stock opened at $78.54 on Thursday. The company has a fifty day simple moving average of $71.86 and a 200-day simple moving average of $67.86. Amphenol has a 12-month low of $49.38 and a 12-month high of $78.82. The company has a current ratio of 1.99, a quick ratio of 1.33 and a debt-to-equity ratio of 0.53. The stock has a market cap of $94.69 billion, a price-to-earnings ratio of 45.14, a PEG ratio of 1.98 and a beta of 1.24.

Amphenol (NYSE:APH) last released its quarterly earnings data on Wednesday, January 22nd. The electronics maker reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.05. Amphenol had a net margin of 15.40% and a return on equity of 24.68%. The company had revenue of $4.32 billion during the quarter, compared to the consensus estimate of $4,051,810 billion. During the same quarter in the prior year, the firm posted $0.82 earnings per share. Amphenol’s revenue for the quarter was up 29.8% on a year-over-year basis. On average, equities analysts forecast that Amphenol will post 1.84 EPS for the current fiscal year.

Amphenol Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 8th. Shareholders of record on Tuesday, December 17th were given a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a yield of 0.84%. The ex-dividend date was Tuesday, December 17th. Amphenol’s payout ratio is 37.93%.

Insider Activity

In other Amphenol news, VP David M. Silverman sold 180,000 shares of the stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $68.84, for a total value of $12,391,200.00. Following the completion of the transaction, the vice president now directly owns 14,000 shares of the company’s stock, valued at approximately $963,760. This trade represents a 92.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Richard Adam Norwitt sold 900,672 shares of the business’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $68.81, for a total value of $61,975,240.32. Following the sale, the chief executive officer now directly owns 1,934,848 shares in the company, valued at $133,136,890.88. This trade represents a 31.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,842,672 shares of company stock valued at $128,858,080 in the last three months. 1.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Amphenol

Hedge funds and other institutional investors have recently bought and sold shares of the company. Legal & General Group Plc increased its position in shares of Amphenol by 116.6% in the second quarter. Legal & General Group Plc now owns 9,833,128 shares of the electronics maker’s stock valued at $662,458,000 after buying an additional 5,293,292 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its holdings in Amphenol by 89.5% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 4,303,215 shares of the electronics maker’s stock valued at $280,397,000 after acquiring an additional 2,032,402 shares in the last quarter. Two Sigma Advisers LP acquired a new position in Amphenol during the third quarter worth about $113,828,000. State Street Corp lifted its holdings in shares of Amphenol by 3.0% in the third quarter. State Street Corp now owns 53,534,216 shares of the electronics maker’s stock valued at $3,496,777,000 after purchasing an additional 1,537,880 shares in the last quarter. Finally, APG Asset Management N.V. grew its position in shares of Amphenol by 136.5% in the second quarter. APG Asset Management N.V. now owns 2,564,548 shares of the electronics maker’s stock valued at $161,207,000 after purchasing an additional 1,480,331 shares during the last quarter. 97.01% of the stock is owned by institutional investors and hedge funds.

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.