Mediolanum International Funds Ltd Decreases Stake in Amphenol Corporation (NYSE:APH)

Key Points

• Mediolanum International Funds Ltd reduced its stake in Amphenol Corporation by 38.3%, now holding 52,358 shares valued at approximately $3.49 million.
• Amphenol reported earnings of $0.81 per share, exceeding the consensus estimate of $0.66, with a revenue increase of 56.5% year-over-year.
• Insider trading has seen significant activity, including the sale of 286,000 shares by Luc Walter, which resulted in a 38.76% decrease in ownership.

Mediolanum International Funds Ltd cut its stake in shares of Amphenol Corporation (NYSE:APH - Free Report) by 38.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 52,358 shares of the electronics maker's stock after selling 32,503 shares during the quarter. Mediolanum International Funds Ltd's holdings in Amphenol were worth $3,487,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Hughes Financial Services LLC purchased a new stake in shares of Amphenol in the first quarter valued at about $25,000. Global X Japan Co. Ltd. bought a new position in Amphenol during the first quarter worth about $44,000. Coppell Advisory Solutions LLC bought a new position in Amphenol during the fourth quarter worth about $48,000. Colonial Trust Co SC boosted its position in Amphenol by 342.9% during the fourth quarter. Colonial Trust Co SC now owns 868 shares of the electronics maker's stock worth $60,000 after purchasing an additional 672 shares during the period. Finally, West Branch Capital LLC bought a new position in shares of Amphenol in the first quarter valued at approximately $57,000. 97.01% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, insider Luc Walter sold 286,000 shares of the stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $91.43, for a total transaction of $26,148,980.00. Following the completion of the transaction, the insider directly owned 451,790 shares in the company, valued at approximately $41,307,159.70. This represents a 38.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider William J. Doherty sold 160,000 shares of the stock in a transaction on Friday, May 30th. The stock was sold at an average price of $89.54, for a total value of $14,326,400.00. The disclosure for this sale can be found here. Insiders sold 799,500 shares of company stock valued at $70,053,885 over the last 90 days. Insiders own 1.67% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on APH. Industrial Alliance Securities set a $115.00 target price on shares of Amphenol in a research report on Friday, July 11th. KGI Securities started coverage on shares of Amphenol in a report on Thursday, June 26th. They set a "hold" rating for the company. Fox Advisors raised shares of Amphenol from an "equal weight" rating to an "overweight" rating and set a $85.00 price objective on the stock in a research report on Thursday, April 24th. Truist Financial upped their target price on shares of Amphenol from $102.00 to $126.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Finally, US Capital Advisors set a $85.00 price objective on shares of Amphenol in a research report on Thursday, April 24th. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat, Amphenol has a consensus rating of "Moderate Buy" and an average target price of $102.23.

Amphenol Stock Performance

Amphenol stock traded up $2.42 during mid-day trading on Thursday, hitting $107.91. The company had a trading volume of 7,262,298 shares, compared to its average volume of 8,510,449. The company has a current ratio of 2.02, a quick ratio of 1.46 and a debt-to-equity ratio of 0.61. Amphenol Corporation has a 12-month low of $54.77 and a 12-month high of $108.85. The company's fifty day moving average is $96.19 and its 200-day moving average is $79.12. The company has a market capitalization of $131.75 billion, a price-to-earnings ratio of 43.00, a P/E/G ratio of 1.76 and a beta of 1.13.

Amphenol (NYSE:APH - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The electronics maker reported $0.81 earnings per share for the quarter, topping 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 business had revenue of $5.65 billion during the quarter, compared to the consensus estimate of $5.01 billion. During the same period in the prior year, the company posted $0.44 EPS. The business's quarterly revenue was up 56.5% on a year-over-year basis. Equities research analysts predict that Amphenol Corporation will post 2.36 EPS for the current year.

Amphenol Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 8th. Shareholders 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 0.61%. Amphenol's dividend payout ratio (DPR) is presently 26.29%.

Amphenol Company 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.