Truist Financial Raises Amphenol (NYSE:APH) Price Target to $76.00

Amphenol (NYSE:APH) had its price target raised by Truist Financial from $74.50 to $76.00 in a research note issued to investors on Thursday, Benzinga reports. The firm currently has a buy rating on the electronics maker’s stock.

Other equities research analysts have also issued reports about the company. TD Cowen lifted their price target on Amphenol from $45.00 to $57.50 and gave the company a hold rating in a report on Thursday, June 6th. Robert W. Baird decreased their target price on shares of Amphenol from $72.00 to $70.00 and set an outperform rating for the company in a research report on Thursday. Jefferies Financial Group started coverage on shares of Amphenol in a report on Tuesday, April 9th. They set a hold rating and a $62.50 price target on the stock. Vertical Research began coverage on shares of Amphenol in a report on Tuesday, July 23rd. They issued a hold rating and a $65.00 price objective for the company. Finally, Evercore ISI restated an outperform 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 given a strong buy rating to the company’s stock. According to MarketBeat.com, Amphenol has a consensus rating of Moderate Buy and an average target price of $65.35.

Amphenol Stock Performance

Shares of APH opened at $63.86 on Thursday. The company has a market capitalization of $76.71 billion, a PE ratio of 39.18, a PEG ratio of 2.94 and a beta of 1.25. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.43 and a current ratio of 2.02. The company’s 50 day moving average price is $67.26 and its 200 day moving average price is $59.66. Amphenol has a 52 week low of $39.34 and a 52 week high of $70.84.

Amphenol (NYSE:APH) last posted its quarterly earnings results on Wednesday, July 24th. The electronics maker reported $0.44 EPS for the quarter, beating the consensus estimate of $0.41 by $0.03. Amphenol had a net margin of 15.69% and a return on equity of 24.08%. The business had revenue of $3.61 billion for the quarter, compared to analysts’ expectations of $3.39 billion. During the same period in the previous year, the company posted $0.72 EPS. Amphenol’s revenue was up 18.2% on a year-over-year basis. Research analysts expect that Amphenol will post 1.73 EPS for the current fiscal year.

Amphenol Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 9th. Shareholders of record on Tuesday, September 17th will be issued a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date of this dividend is Tuesday, September 17th. Amphenol’s dividend payout ratio (DPR) is currently 40.49%.

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

Insider Transactions at Amphenol

In related news, insider Luc Walter sold 230,000 shares of the company’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 completion of the transaction, the insider now directly owns 397,280 shares in the company, valued at approximately $26,844,209.60. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 1.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Amphenol

Several large investors have recently added to or reduced their stakes in the company. American Century Companies Inc. boosted its stake in Amphenol by 23.9% during the third quarter. American Century Companies Inc. now owns 51,858 shares of the electronics maker’s stock worth $4,356,000 after buying an additional 9,992 shares in the last quarter. Mutual Advisors LLC boosted its position in shares of Amphenol by 16.7% during the 4th quarter. Mutual Advisors LLC now owns 3,500 shares of the electronics maker’s stock valued at $347,000 after acquiring an additional 502 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its stake in Amphenol by 0.4% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 130,929 shares of the electronics maker’s stock valued at $12,979,000 after acquiring an additional 461 shares during the period. Pacer Advisors Inc. raised its position in Amphenol by 94.7% in the fourth quarter. Pacer Advisors Inc. now owns 81,380 shares of the electronics maker’s stock worth $8,067,000 after purchasing an additional 39,584 shares in the last quarter. Finally, Planned Solutions Inc. bought a new position in Amphenol during the fourth quarter worth about $59,000. Institutional investors and hedge funds own 97.01% of the company’s stock.

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.