First Foundation Advisors Lowers Position in Amphenol Corporation (NYSE:APH)

Key Points

• First Foundation Advisors reduced its holdings in Amphenol Corporation by 8.1%, ending the quarter with 248,021 shares valued at approximately $16.27 million.
• Amphenol recently reported a quarterly EPS of $0.81, exceeding estimates, with a significant year-over-year revenue increase of 56.5% to $5.65 billion.
• Several investment firms have raised their target prices for Amphenol, with JPMorgan increasing it to $125.00 and maintaining an "overweight" rating.

First Foundation Advisors decreased its position in Amphenol Corporation (NYSE:APH - Free Report) by 8.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 248,021 shares of the electronics maker's stock after selling 22,001 shares during the period. First Foundation Advisors' holdings in Amphenol were worth $16,268,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Hughes Financial Services LLC acquired a new position in shares of Amphenol during the first quarter valued at about $25,000. N.E.W. Advisory Services LLC bought a new stake in Amphenol in the 1st quarter worth about $28,000. Global X Japan Co. Ltd. bought a new position in shares of Amphenol during the 1st quarter valued at approximately $44,000. Coppell Advisory Solutions LLC bought a new position in shares of Amphenol during the 4th quarter valued at approximately $48,000. Finally, Meeder Asset Management Inc. grew its position in shares of Amphenol by 30.5% during the 1st quarter. Meeder Asset Management Inc. now owns 856 shares of the electronics maker's stock valued at $56,000 after acquiring an additional 200 shares during the period. Institutional investors and hedge funds own 97.01% of the company's stock.

Analyst Ratings Changes

A number of analysts recently commented on APH shares. UBS Group upped their price target on shares of Amphenol from $115.00 to $120.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Amphenol in a report on Friday, July 11th. KGI Securities initiated coverage on shares of Amphenol in a report on Thursday, June 26th. They set a "hold" rating on the stock. Robert W. Baird raised their target price on Amphenol from $113.00 to $118.00 and gave the stock an "outperform" rating in a research note on Thursday, July 24th. Finally, Wall Street Zen raised shares of Amphenol from a "hold" rating to a "buy" rating in a research note on Sunday, June 22nd. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $102.23.

Insider Buying and Selling at Amphenol

In related news, insider William J. Doherty sold 160,000 shares of the business's stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $89.54, for a total transaction of $14,326,400.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Michael R. Ivas sold 40,000 shares of the business's stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $88.79, for a total transaction of $3,551,600.00. Following the sale, the vice president owned 152,412 shares of the company's stock, valued at $13,532,661.48. This trade represents a 20.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 586,000 shares of company stock valued at $52,935,980. 1.67% of the stock is owned by corporate insiders.

Amphenol Stock Down 2.1%

NYSE APH traded down $2.22 during trading hours on Friday, reaching $104.29. 8,720,425 shares of the company's stock traded hands, compared to its average volume of 8,562,195. 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 firm has a market cap of $127.33 billion, a PE ratio of 41.55, a PEG ratio of 1.76 and a beta of 1.13. Amphenol Corporation has a 52-week low of $54.77 and a 52-week high of $108.85. The firm has a 50-day simple moving average of $96.62 and a 200 day simple moving average of $79.39.

Amphenol (NYSE:APH - Get Free Report) last released 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 net margin of 16.90% and a return on equity of 30.58%. 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 company earned $0.44 earnings per share. The firm's quarterly revenue was up 56.5% on a year-over-year basis. Sell-side analysts anticipate that Amphenol Corporation will post 2.36 EPS for the current fiscal year.

Amphenol Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 8th. Investors of record on Tuesday, September 16th will be given a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a yield of 0.6%. Amphenol's dividend payout ratio (DPR) is 26.29%.

Amphenol Profile

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.