Phoenix Financial Ltd. Has $1.70 Million Stock Position in Amphenol Corporation $APH

Key Points

• Phoenix Financial Ltd. reduced its holdings in Amphenol Corporation by 23.1% during the second quarter, owning 17,265 shares valued at $1.70 million after selling 5,176 shares.
• Major analysts have upgraded Amphenol's stock rating to "buy" and increased their price targets to $150.00, reflecting growing confidence in the company's performance.
• Amphenol reported a 56.5% year-over-year revenue increase with quarterly earnings of $0.81 per share, surpassing estimates and showcasing strong financial growth.

Phoenix Financial Ltd. lowered its holdings in shares of Amphenol Corporation (NYSE:APH - Free Report) by 23.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 17,265 shares of the electronics maker's stock after selling 5,176 shares during the period. Phoenix Financial Ltd.'s holdings in Amphenol were worth $1,703,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Avidian Wealth Enterprises LLC grew its stake in Amphenol by 5.0% during the second quarter. Avidian Wealth Enterprises LLC now owns 6,838 shares of the electronics maker's stock worth $675,000 after purchasing an additional 326 shares during the period. DekaBank Deutsche Girozentrale grew its stake in Amphenol by 1.5% during the second quarter. DekaBank Deutsche Girozentrale now owns 1,086,445 shares of the electronics maker's stock worth $106,494,000 after purchasing an additional 16,526 shares during the period. Drive Wealth Management LLC grew its stake in Amphenol by 3.4% during the second quarter. Drive Wealth Management LLC now owns 7,640 shares of the electronics maker's stock worth $756,000 after purchasing an additional 251 shares during the period. Canvas Wealth Advisors LLC acquired a new stake in Amphenol during the second quarter worth approximately $209,000. Finally, Evermay Wealth Management LLC grew its stake in Amphenol by 3.1% during the second quarter. Evermay Wealth Management LLC now owns 9,483 shares of the electronics maker's stock worth $937,000 after purchasing an additional 282 shares during the period. Institutional investors and hedge funds own 97.01% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently commented on APH shares. Bank of America raised Amphenol from a "neutral" rating to a "buy" rating and raised their target price for the stock from $120.00 to $150.00 in a research note on Wednesday, October 15th. Evercore ISI boosted their price objective on Amphenol from $120.00 to $150.00 and gave the company an "outperform" rating in a report on Tuesday, October 7th. Citigroup reiterated a "buy" rating and issued a $145.00 target price (up from $125.00) on shares of Amphenol in a report on Wednesday, September 24th. Wall Street Zen downgraded shares of Amphenol from a "strong-buy" rating to a "buy" rating in a research report on Sunday, August 10th. Finally, KGI Securities assumed coverage on shares of Amphenol in a research report on Thursday, June 26th. They issued a "hold" rating for the company. Ten research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $118.00.

Amphenol Trading Down 2.4%

Shares of Amphenol stock opened at $124.60 on Wednesday. The stock has a fifty day simple moving average of $118.01 and a 200 day simple moving average of $99.22. Amphenol Corporation has a 12-month low of $56.45 and a 12-month high of $128.12. The company has a market capitalization of $152.13 billion, a P/E ratio of 49.64, a price-to-earnings-growth ratio of 1.67 and a beta of 1.17. 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 announced its quarterly earnings results on Wednesday, July 23rd. The electronics maker reported $0.81 earnings per share (EPS) 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 quarter in the prior year, the company posted $0.44 earnings per share. Amphenol's revenue was up 56.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Amphenol Corporation will post 2.36 earnings per share for the current fiscal year.

Amphenol Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 8th. Investors of record on Tuesday, September 16th were issued a dividend of $0.165 per share. The ex-dividend date was Tuesday, September 16th. This represents a $0.66 annualized dividend and a yield of 0.5%. Amphenol's dividend payout ratio is 26.29%.

Insiders Place Their Bets

In other Amphenol news, insider William J. Doherty sold 113,000 shares of the company's stock in a transaction on Friday, August 8th. The stock was sold at an average price of $108.89, for a total value of $12,304,570.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Lance E. D'amico sold 100,000 shares of the company's stock in a transaction on Monday, August 18th. The shares were sold at an average price of $110.60, for a total value of $11,060,000.00. Following the completion of the transaction, the vice president owned 76,400 shares of the company's stock, valued at $8,449,840. This trade represents a 56.69% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 665,924 shares of company stock worth $73,369,357 over the last 90 days. Company insiders own 1.67% of the company's stock.

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.

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