Amphenol (NYSE:APH) Sets New 12-Month High - Here's What Happened

Key Points

• Amphenol Corporation reached a new 52-week high, trading at $110.88, with a significant increase in stock volume from previous days.
• Several investment firms, including Truist Financial and Citigroup, have increased their target price for Amphenol, reflecting a consensus rating of "Moderate Buy" among analysts.
• The company reported strong quarterly earnings, beating analyst expectations with $0.81 EPS compared to the anticipated $0.66, and a revenue increase of 56.5% year-over-year.

Amphenol Corporation (NYSE:APH - Get Free Report) reached a new 52-week high on Monday . The stock traded as high as $110.88 and last traded at $110.66, with a volume of 16012 shares traded. The stock had previously closed at $109.98.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Truist Financial increased their target price on Amphenol from $102.00 to $126.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. The Goldman Sachs Group reiterated a "buy" rating on shares of Amphenol in a research note on Friday, July 11th. Citigroup upped their target price on shares of Amphenol from $115.00 to $125.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. Industrial Alliance Securities set a $115.00 price target on Amphenol in a research report on Friday, July 11th. Finally, Wall Street Zen downgraded shares of Amphenol from a "strong-buy" rating to a "buy" rating in a research report on Sunday. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $104.92.

Amphenol Price Performance

The company has a fifty day moving average price of $99.07 and a two-hundred day moving average price of $80.99. The company has a current ratio of 2.02, a quick ratio of 1.46 and a debt-to-equity ratio of 0.61. The company has a market cap of $134.26 billion, a price-to-earnings ratio of 43.84, a price-to-earnings-growth ratio of 1.79 and a beta of 1.13.

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

Amphenol Dividend Announcement

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

Insiders Place Their Bets

In other news, insider William J. Doherty sold 160,000 shares of the business's stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $89.54, for a total value of $14,326,400.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Michael R. Ivas sold 40,000 shares of the company's stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $88.79, for a total value of $3,551,600.00. Following the sale, the vice president owned 152,412 shares of the company's stock, valued at approximately $13,532,661.48. This represents a 20.79% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 586,000 shares of company stock worth $52,935,980 in the last 90 days. 1.67% of the stock is currently owned by company insiders.

Institutional Trading of Amphenol

Several large investors have recently modified their holdings of the business. Bank of America Corp DE lifted its stake in shares of Amphenol by 294.0% in the fourth quarter. Bank of America Corp DE now owns 24,953,591 shares of the electronics maker's stock worth $1,733,027,000 after buying an additional 18,619,417 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Amphenol by 36.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 58,911,813 shares of the electronics maker's stock valued at $4,091,426,000 after acquiring an additional 15,837,407 shares in the last quarter. T. Rowe Price Investment Management Inc. lifted its position in Amphenol by 196.3% during the first quarter. T. Rowe Price Investment Management Inc. now owns 16,743,239 shares of the electronics maker's stock worth $1,098,190,000 after purchasing an additional 11,092,282 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Amphenol by 639.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 8,758,951 shares of the electronics maker's stock worth $574,500,000 after buying an additional 7,573,750 shares during the period. Finally, Nuveen LLC bought a new stake in Amphenol in the first quarter worth about $476,842,000. 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.

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