Lyell Wealth Management LP Grows Position in Amphenol Corporation (NYSE:APH)

Key Points

• Lyell Wealth Management LP increased its holdings in Amphenol Corporation by 13.1%, acquiring an additional 22,012 shares, making Amphenol 1.2% of its portfolio worth approximately $12.47 million.
• Amphenol's stock price saw upgrades from analysts, with target prices raised, including from Truist Financial to $126 and UBS Group to $120, reflecting a positive outlook.
• The company reported a robust quarterly performance with $5.65 billion in revenue, significantly exceeding estimates, and earnings per share of $0.81, surpassing the consensus estimate by $0.15.

Lyell Wealth Management LP boosted its holdings in shares of Amphenol Corporation (NYSE:APH - Free Report) by 13.1% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 190,069 shares of the electronics maker's stock after acquiring an additional 22,012 shares during the quarter. Amphenol accounts for 1.2% of Lyell Wealth Management LP's portfolio, making the stock its 26th biggest holding. Lyell Wealth Management LP's holdings in Amphenol were worth $12,467,000 as of its most recent SEC filing.

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

Insider Transactions at Amphenol

In related news, VP David M. Silverman sold 100,000 shares of the company's stock in a transaction dated 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 completion of the sale, the vice president owned 12,500 shares of the company's stock, valued at approximately $1,113,625. This represents a 88.89% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Michael R. Ivas sold 40,000 shares of the firm'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 completion of the sale, the vice president directly 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 quarter, insiders have sold 586,000 shares of company stock worth $52,935,980. Company insiders own 1.67% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on APH. JPMorgan Chase & Co. increased their price target on Amphenol from $120.00 to $125.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Evercore ISI increased their target price on shares of Amphenol from $105.00 to $110.00 and gave the stock an "outperform" rating in a report on Friday, July 18th. UBS Group boosted their price target on shares of Amphenol from $115.00 to $120.00 and gave the company a "buy" rating in a report on Thursday, July 24th. TD Securities lifted their price target on Amphenol from $63.00 to $70.00 and gave the company a "hold" rating in a report on Thursday, May 1st. Finally, Truist Financial boosted their price objective on shares of Amphenol from $102.00 to $126.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. Four equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $102.23.

Amphenol Price Performance

Shares of APH stock traded up $3.83 during trading hours on Monday, hitting $108.14. 5,027,194 shares of the company's stock were exchanged, compared to its average volume of 8,546,974. Amphenol Corporation has a fifty-two week low of $54.77 and a fifty-two week high of $108.85. The firm has a market cap of $132.03 billion, a P/E ratio of 43.07, a P/E/G ratio of 1.74 and a beta of 1.13. The company has a quick ratio of 1.46, a current ratio of 2.02 and a debt-to-equity ratio of 0.61. The firm has a 50 day moving average of $96.99 and a two-hundred day moving average of $79.75.

Amphenol (NYSE:APH - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The electronics maker reported $0.81 earnings per share for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $5.01 billion. During the same period last year, the company posted $0.44 EPS. Amphenol's quarterly revenue was up 56.5% compared to the same quarter last year. Sell-side analysts forecast that Amphenol Corporation will post 2.36 EPS for the current year.

Amphenol Dividend Announcement

The company also recently disclosed 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 is Tuesday, September 16th. This represents a $0.66 dividend on an annualized basis and a yield of 0.6%. Amphenol's dividend payout ratio (DPR) is presently 26.29%.

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.