Neuberger Berman Group LLC Sells 1,088,314 Shares of Amphenol Corporation (NYSE:APH)

Key Points

• Neuberger Berman Group LLC reduced its stake in Amphenol Corporation by 13.3%, selling over 1 million shares, and now holds approximately 0.59% of the company valued at $466.5 million.
• Several analysts have recently upgraded their ratings on Amphenol, with price targets ranging from $70.00 to $125.00, indicating a consensus rating of "Moderate Buy".
• Amphenol reported quarterly earnings of $0.81 EPS, beating estimates, with significant revenue growth of 56.5% year-over-year, totaling $5.65 billion.

Neuberger Berman Group LLC trimmed its holdings in shares of Amphenol Corporation (NYSE:APH - Free Report) by 13.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,112,553 shares of the electronics maker's stock after selling 1,088,314 shares during the period. Neuberger Berman Group LLC owned 0.59% of Amphenol worth $466,512,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. E Fund Management Co. Ltd. raised its stake in shares of Amphenol by 54.5% in the 1st quarter. E Fund Management Co. Ltd. now owns 57,128 shares of the electronics maker's stock valued at $3,747,000 after purchasing an additional 20,161 shares during the period. Tokio Marine Asset Management Co. Ltd. raised its stake in shares of Amphenol by 6.0% in the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 39,485 shares of the electronics maker's stock valued at $2,590,000 after purchasing an additional 2,249 shares during the period. Financial Network Wealth Advisors LLC raised its stake in shares of Amphenol by 21.3% in the 1st quarter. Financial Network Wealth Advisors LLC now owns 2,905 shares of the electronics maker's stock valued at $191,000 after purchasing an additional 511 shares during the period. NFP Retirement Inc. raised its stake in shares of Amphenol by 4.9% in the 1st quarter. NFP Retirement Inc. now owns 4,122 shares of the electronics maker's stock valued at $270,000 after purchasing an additional 193 shares during the period. Finally, National Pension Service raised its stake in shares of Amphenol by 3.9% in the 1st quarter. National Pension Service now owns 2,867,820 shares of the electronics maker's stock valued at $188,100,000 after purchasing an additional 107,275 shares during the period. 97.01% of the stock is owned by institutional investors.

Amphenol Stock Performance

Shares of NYSE:APH traded down $1.54 during trading on Friday, reaching $109.20. 6,535,524 shares of the stock were exchanged, compared to its average volume of 9,348,532. Amphenol Corporation has a 12 month low of $56.45 and a 12 month high of $112.35. The firm has a market cap of $133.32 billion, a PE ratio of 43.51, a PEG ratio of 1.78 and a beta of 1.13. The stock has a 50-day moving average price of $100.89 and a 200-day moving average price of $82.20. 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 (NYSE:APH - Get Free Report) last issued its quarterly 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 business had revenue of $5.65 billion during the quarter, compared to analysts' expectations of $5.01 billion. Amphenol had a return on equity of 30.58% and a net margin of 16.90%. The firm's revenue for the quarter was up 56.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.44 earnings per share. Research analysts expect that Amphenol Corporation 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. Investors of record on Tuesday, September 16th will be paid a $0.165 dividend. This represents a $0.66 annualized dividend and a dividend yield of 0.6%. The ex-dividend date is Tuesday, September 16th. Amphenol's payout ratio is 26.29%.

Insider Buying and Selling

In other Amphenol news, 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 completion of the transaction, the vice president directly owned 152,412 shares in the company, valued at $13,532,661.48. The trade was a 20.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Luc Walter sold 286,000 shares of the company's 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 transaction, the insider owned 451,790 shares of the company's stock, valued at $41,307,159.70. This trade represents a 38.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 812,000 shares of company stock valued at $77,703,320. 1.67% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have issued reports on APH. Fox Advisors raised Amphenol from an "equal weight" rating to an "overweight" rating and set a $85.00 price target on the stock in a research note on Thursday, April 24th. UBS Group lifted their target price on Amphenol from $115.00 to $120.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. TD Securities lifted their target price on Amphenol from $63.00 to $70.00 and gave the company a "hold" rating in a research report on Thursday, May 1st. Truist Financial lifted their target price on Amphenol from $102.00 to $126.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. Finally, The Goldman Sachs Group reaffirmed a "buy" rating on shares of Amphenol in a research report on Friday, July 11th. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $104.92.

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.