Bank of America Boosts Amphenol (NYSE:APH) Price Target to $75.00

Amphenol (NYSE:APH) had its price target boosted by Bank of America from $72.00 to $75.00 in a report issued on Wednesday morning, Benzinga reports. Bank of America currently has a buy rating on the electronics maker’s stock.

Several other research analysts also recently issued reports on the company. Truist Financial lifted their price objective on Amphenol from $68.00 to $74.50 and gave the stock a buy rating in a research report on Friday, May 24th. Stifel Nicolaus reiterated a hold rating on shares of Amphenol in a report on Thursday, June 13th. Robert W. Baird boosted their price target on Amphenol from $61.50 to $62.00 and gave the company an outperform rating in a report on Thursday, April 25th. JPMorgan Chase & Co. boosted their price target on Amphenol from $62.50 to $65.00 and gave the company an overweight rating in a report on Thursday, April 25th. Finally, Citigroup boosted their price target on Amphenol from $67.50 to $80.00 and gave the company a buy rating in a report on Tuesday, May 28th. Four research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average target price of $64.58.

Amphenol Trading Up 0.5 %

Shares of Amphenol stock opened at $69.88 on Wednesday. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.06 and a quick ratio of 1.43. Amphenol has a 1 year low of $39.34 and a 1 year high of $70.84. The company has a market capitalization of $83.94 billion, a P/E ratio of 42.74, a P/E/G ratio of 3.27 and a beta of 1.25. The business has a 50 day moving average price of $66.99 and a 200 day moving average price of $58.34.

Amphenol (NYSE:APH) last issued its quarterly earnings data on Wednesday, April 24th. The electronics maker reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.04. Amphenol had a return on equity of 23.85% and a net margin of 15.87%. The firm had revenue of $3.26 billion during the quarter, compared to the consensus estimate of $3.10 billion. During the same period in the previous year, the firm posted $0.35 EPS. The company’s quarterly revenue was up 9.5% compared to the same quarter last year. Sell-side analysts anticipate that Amphenol will post 1.69 EPS for the current fiscal year.

Amphenol Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 10th. Stockholders of record on Tuesday, June 18th were issued a dividend of $0.22 per share. The ex-dividend date was Tuesday, June 18th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.26%. Amphenol’s payout ratio is 26.91%.

Amphenol announced that its board has approved a share repurchase program on Wednesday, April 24th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the electronics maker to purchase up to 2.9% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Insider Transactions at Amphenol

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

Institutional Trading of Amphenol

Large investors have recently added to or reduced their stakes in the stock. Frazier Financial Advisors LLC acquired a new stake in Amphenol in the 4th quarter valued at $29,000. Opal Wealth Advisors LLC acquired a new stake in shares of Amphenol during the second quarter valued at about $29,000. Albion Financial Group UT grew its stake in shares of Amphenol by 100.0% during the second quarter. Albion Financial Group UT now owns 468 shares of the electronics maker’s stock valued at $32,000 after acquiring an additional 234 shares in the last quarter. Mendota Financial Group LLC acquired a new stake in shares of Amphenol during the fourth quarter valued at about $33,000. Finally, Venturi Wealth Management LLC grew its stake in shares of Amphenol by 75.5% during the fourth quarter. Venturi Wealth Management LLC now owns 330 shares of the electronics maker’s stock valued at $33,000 after acquiring an additional 142 shares in the last quarter. 97.01% of the stock is currently 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.