Amphenol (NYSE:APH) Stock Price Expected to Rise, Bank of America Analyst Says

Key Points

• Bank of America has raised its price target for Amphenol from $110.00 to $120.00, indicating a potential upside of 11.45% from the current stock price.
• The consensus rating for Amphenol is "Moderate Buy" with a majority of analysts giving it a "buy" or "outperform" ranking.
• Amphenol reported strong earnings of $0.81 per share, surpassing estimates, with revenue increasing by 56.5% year-over-year to $5.65 billion.

Amphenol (NYSE:APH - Free Report) had its target price lifted by Bank of America from $110.00 to $120.00 in a research note issued to investors on Tuesday morning,Benzinga reports. The firm currently has a neutral rating on the electronics maker's stock.

Several other brokerages also recently commented on APH. Evercore ISI upped their price target on shares of Amphenol from $105.00 to $110.00 and gave the company an "outperform" rating in a report on Friday, July 18th. JPMorgan Chase & Co. upped their price target on shares of Amphenol from $120.00 to $125.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. US Capital Advisors set a $85.00 price target on shares of Amphenol in a report on Thursday, April 24th. Fox Advisors upgraded shares of Amphenol from an "equal weight" rating to an "overweight" rating and set a $85.00 price target on the stock in a report on Thursday, April 24th. Finally, Truist Financial upped their price target on shares of Amphenol from $102.00 to $126.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Amphenol currently has an average rating of "Moderate Buy" and an average target price of $104.92.

Amphenol Price Performance

Shares of NYSE APH traded down $1.18 during mid-day trading on Tuesday, hitting $108.32. 822,806 shares of the company's stock traded hands, compared to its average volume of 8,519,927. The company's 50-day moving average is $98.27 and its two-hundred day moving average is $80.42. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.02 and a quick ratio of 1.46. The company has a market capitalization of $132.25 billion, a P/E ratio of 43.22, a PEG ratio of 1.76 and a beta of 1.13. Amphenol has a 1 year low of $56.45 and a 1 year high of $110.38.

Amphenol (NYSE:APH - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The electronics maker reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.15. The firm had revenue of $5.65 billion for the quarter, compared to analysts' expectations of $5.01 billion. Amphenol had a net margin of 16.90% and a return on equity of 30.58%. The business's revenue was up 56.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.44 EPS. On average, equities analysts anticipate that Amphenol will post 2.36 EPS for the current fiscal year.

Amphenol Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 8th. Shareholders of record on Tuesday, September 16th will be issued a $0.165 dividend. The ex-dividend date of this dividend is Tuesday, September 16th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.6%. Amphenol's dividend payout ratio (DPR) is currently 26.29%.

Insider Activity at Amphenol

In other news, insider Luc Walter sold 286,000 shares of the stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $91.43, for a total value of $26,148,980.00. Following the sale, the insider owned 451,790 shares in the company, valued at $41,307,159.70. This represents a 38.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP David M. Silverman sold 100,000 shares of the firm's stock in a transaction on Friday, May 30th. The shares were sold at an average price of $89.09, for a total transaction of $8,909,000.00. Following the sale, the vice president owned 12,500 shares in the company, valued at approximately $1,113,625. This represents a 88.89% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 586,000 shares of company stock worth $52,935,980. Corporate insiders own 1.67% of the company's stock.

Institutional Trading of Amphenol

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Opal Wealth Advisors LLC acquired a new stake in shares of Amphenol in the second quarter valued at about $25,000. Hilltop National Bank purchased a new position in shares of Amphenol in the second quarter worth about $35,000. Hughes Financial Services LLC purchased a new position in shares of Amphenol in the first quarter worth about $25,000. Avalon Trust Co lifted its stake in shares of Amphenol by 133.3% in the first quarter. Avalon Trust Co now owns 406 shares of the electronics maker's stock worth $27,000 after buying an additional 232 shares in the last quarter. Finally, N.E.W. Advisory Services LLC purchased a new position in shares of Amphenol in the first quarter worth about $28,000. 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.