Amphenol (NYSE:APH) Share Price Crosses Above Two Hundred Day Moving Average of $60.31

Amphenol Co. (NYSE:APH) shares passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $60.31 and traded as high as $61.59. Amphenol shares last traded at $60.04, with a volume of 10,106,632 shares trading hands.

Wall Street Analyst Weigh In

A number of analysts have weighed in on APH shares. TD Cowen raised their price objective on shares of Amphenol from $45.00 to $57.50 and gave the stock a “hold” rating in a report on Thursday, June 6th. Evercore ISI reiterated an “outperform” rating on shares of Amphenol in a research note on Thursday, June 13th. UBS Group upped their price objective on shares of Amphenol from $69.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Truist Financial raised their price objective on Amphenol from $74.50 to $76.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Finally, Stifel Nicolaus reissued a “hold” rating on shares of Amphenol in a report on Thursday, June 13th. Five equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Amphenol currently has a consensus rating of “Moderate Buy” and an average target price of $65.35.

Amphenol Price Performance

The company has a market cap of $75.18 billion, a price-to-earnings ratio of 38.40, a price-to-earnings-growth ratio of 2.81 and a beta of 1.25. The company has a fifty day simple moving average of $66.10 and a two-hundred day simple moving average of $60.42. The company has a quick ratio of 1.32, a current ratio of 2.02 and a debt-to-equity ratio of 0.56.

Amphenol (NYSE:APH) last issued its quarterly earnings data on Wednesday, July 24th. The electronics maker reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.03. The firm had revenue of $3.61 billion for 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 revenue was up 18.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.72 EPS. On average, equities research analysts anticipate that Amphenol Co. will post 1.74 earnings per share for the current fiscal year.

Amphenol Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 9th. Investors of record on Tuesday, September 17th will be paid a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a dividend yield of 1.05%. The ex-dividend date is Tuesday, September 17th. Amphenol’s payout ratio is currently 40.49%.

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

Insiders Place Their Bets

In other news, CEO Richard Adam Norwitt sold 750,000 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $64.54, for a total value of $48,405,000.00. Following the completion of the transaction, the chief executive officer now owns 1,934,848 shares of the company’s stock, valued at $124,875,089.92. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, CEO Richard Adam Norwitt sold 750,000 shares of the stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $64.54, for a total transaction of $48,405,000.00. Following the transaction, the chief executive officer now directly owns 1,934,848 shares in the company, valued at $124,875,089.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Lance E. D’amico sold 90,000 shares of Amphenol stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $64.65, for a total value of $5,818,500.00. Following the completion of the sale, the vice president now owns 51,400 shares of the company’s stock, valued at approximately $3,323,010. The disclosure for this sale can be found here. Insiders have sold 1,346,000 shares of company stock valued at $87,465,740 in the last ninety days. Insiders own 1.80% of the company’s stock.

Institutional Trading of Amphenol

A number of institutional investors have recently modified their holdings of APH. Bank of New York Mellon Corp grew its stake in shares of Amphenol by 92.0% in the second quarter. Bank of New York Mellon Corp now owns 36,637,988 shares of the electronics maker’s stock valued at $2,468,301,000 after buying an additional 17,552,921 shares in the last quarter. Norges Bank purchased a new stake in Amphenol during the 4th quarter worth $1,078,167,000. Massachusetts Financial Services Co. MA lifted its holdings in Amphenol by 69.1% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 23,225,629 shares of the electronics maker’s stock worth $1,564,711,000 after buying an additional 9,487,387 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in Amphenol by 39.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 29,245,014 shares of the electronics maker’s stock valued at $2,899,059,000 after buying an additional 8,340,759 shares during the last quarter. Finally, Mawer Investment Management Ltd. increased its position in shares of Amphenol by 88.9% during the second quarter. Mawer Investment Management Ltd. now owns 15,455,006 shares of the electronics maker’s stock worth $1,041,204,000 after acquiring an additional 7,275,279 shares during the last quarter. Hedge funds and other institutional investors 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.