Amphenol (NYSE:APH) PT Lowered to $70.00

Amphenol (NYSE:APH) had its price objective trimmed by Robert W. Baird from $72.00 to $70.00 in a research report released on Thursday, Benzinga reports. The firm currently has an outperform rating on the electronics maker’s stock.

A number of other brokerages have also weighed in on APH. Vertical Research initiated coverage on Amphenol in a research report on Tuesday, July 23rd. They set a hold rating and a $65.00 price objective on the stock. Jefferies Financial Group assumed coverage on Amphenol in a report on Tuesday, April 9th. They set a hold rating and a $62.50 price target on the stock. Bank of America lifted their target price on shares of Amphenol from $72.00 to $75.00 and gave the stock a buy rating in a research report on Wednesday, July 10th. Evercore ISI restated an outperform rating on shares of Amphenol in a research report on Thursday, June 13th. Finally, Stifel Nicolaus reiterated a hold rating on shares of Amphenol in a report on Thursday, June 13th. Five investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of Moderate Buy and an average target price of $65.35.

Amphenol Stock Up 3.4 %

Shares of NYSE APH opened at $63.86 on Thursday. The company has a market cap of $76.71 billion, a price-to-earnings ratio of 39.06, a PEG ratio of 2.84 and a beta of 1.25. The company has a current ratio of 2.02, a quick ratio of 1.43 and a debt-to-equity ratio of 0.56. Amphenol has a 12 month low of $39.34 and a 12 month high of $70.84. The stock has a 50-day moving average price of $67.26 and a two-hundred day moving average price of $59.58.

Amphenol (NYSE:APH) last released its quarterly earnings data on Wednesday, July 24th. The electronics maker reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.03. The business had revenue of $3.61 billion during the quarter, compared to analysts’ expectations of $3.39 billion. Amphenol had a net margin of 15.69% and a return on equity of 24.08%. The firm’s quarterly revenue was up 18.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.72 EPS. As a group, analysts forecast that Amphenol will post 1.71 earnings per share for the current fiscal year.

Amphenol announced that its board has approved a stock repurchase program on Wednesday, April 24th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the electronics maker to reacquire up to 2.9% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Amphenol Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 9th. Stockholders of record on Tuesday, September 17th will be paid a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date of this dividend is Tuesday, September 17th. Amphenol’s dividend payout ratio is 26.91%.

Insider Buying and Selling at Amphenol

In related news, insider Luc Walter sold 230,000 shares of the business’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $67.57, for a total transaction of $15,541,100.00. Following the transaction, the insider now owns 397,280 shares in the company, valued at approximately $26,844,209.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Beacon Capital Management LLC increased its holdings in shares of Amphenol by 121.2% during the second quarter. Beacon Capital Management LLC now owns 376 shares of the electronics maker’s stock valued at $25,000 after acquiring an additional 206 shares in the last quarter. Frazier Financial Advisors LLC acquired a new stake in Amphenol in the 4th quarter valued at $29,000. Opal Wealth Advisors LLC bought a new stake in Amphenol during the 2nd quarter valued at $29,000. New Millennium Group LLC bought a new stake in Amphenol during the 2nd quarter valued at $31,000. Finally, Albion Financial Group UT lifted its stake in shares of Amphenol by 100.0% in the second quarter. Albion Financial Group UT now owns 468 shares of the electronics maker’s stock valued at $32,000 after buying an additional 234 shares in 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.