Zurcher Kantonalbank Zurich Cantonalbank Raises Holdings in Amphenol Corporation (NYSE:APH)

Key Points

• Zurcher Kantonalbank increased its stake in Amphenol Corporation by 2.0%, now owning approximately 1.29 million shares valued at $84.29 million.
• Multiple analysts have upgraded Amphenol's stock ratings and price targets, with UBS Group raising its price objective from $115.00 to $120.00, reflecting positive market sentiment.
• Amphenol reported a quarterly earnings surprise with $0.81 earnings per share, exceeding consensus estimates by $0.15, and a year-over-year revenue increase of 56.5%.

Zurcher Kantonalbank Zurich Cantonalbank increased its position in Amphenol Corporation (NYSE:APH - Free Report) by 2.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,285,077 shares of the electronics maker's stock after acquiring an additional 24,846 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.11% of Amphenol worth $84,288,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of APH. Hughes Financial Services LLC purchased a new position in shares of Amphenol during the first quarter valued at about $25,000. Global X Japan Co. Ltd. purchased a new position in shares of Amphenol during the first quarter valued at about $44,000. Coppell Advisory Solutions LLC purchased a new position in shares of Amphenol during the fourth quarter valued at about $48,000. West Branch Capital LLC purchased a new position in shares of Amphenol during the first quarter valued at about $57,000. Finally, Colonial Trust Co SC grew its position in shares of Amphenol by 342.9% during the fourth quarter. Colonial Trust Co SC now owns 868 shares of the electronics maker's stock valued at $60,000 after purchasing an additional 672 shares in the last quarter. 97.01% of the stock is currently owned by institutional investors.

Amphenol Stock Performance

Shares of Amphenol stock traded down $0.16 on Wednesday, reaching $105.15. 3,004,268 shares of the stock were exchanged, compared to its average volume of 8,492,795. The company has a quick ratio of 1.46, a current ratio of 2.02 and a debt-to-equity ratio of 0.61. Amphenol Corporation has a twelve month low of $54.77 and a twelve month high of $108.85. The firm has a market capitalization of $128.38 billion, a price-to-earnings ratio of 41.89, a PEG ratio of 1.84 and a beta of 1.13. The business has a 50 day moving average price of $95.80 and a two-hundred day moving average price of $78.94.

Amphenol (NYSE:APH - Get Free Report) last released its earnings results on Wednesday, July 23rd. The electronics maker reported $0.81 EPS for the quarter, topping analysts' consensus estimates of $0.66 by $0.15. Amphenol had a return on equity of 30.58% and a net margin of 16.90%. The firm had revenue of $5.65 billion during the quarter, compared to the consensus estimate of $5.01 billion. During the same quarter in the previous year, the company posted $0.44 earnings per share. The company's revenue was up 56.5% compared to the same quarter last year. Analysts anticipate that Amphenol Corporation will post 2.36 earnings per share for the current fiscal year.

Amphenol Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 9th. Investors of record on Tuesday, June 17th were given a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a yield of 0.63%. The ex-dividend date was Tuesday, June 17th. Amphenol's dividend payout ratio is currently 26.29%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on APH. Truist Financial increased their price target on shares of Amphenol from $102.00 to $126.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Fox Advisors raised shares of Amphenol from an "equal weight" rating to an "overweight" rating and set a $85.00 price target for the company in a report on Thursday, April 24th. Industrial Alliance Securities set a $115.00 price target on shares of Amphenol in a report on Friday, July 11th. Wall Street Zen raised shares of Amphenol from a "hold" rating to a "buy" rating in a research note on Sunday, June 22nd. Finally, US Capital Advisors set a $85.00 target price on Amphenol in a research note on Thursday, April 24th. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $102.23.

Insider Buying and Selling

In related news, VP David M. Silverman sold 100,000 shares of Amphenol stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $89.09, for a total transaction of $8,909,000.00. Following the completion of the transaction, the vice president directly owned 12,500 shares in the company, valued at approximately $1,113,625. This trade represents a 88.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider William J. Doherty sold 160,000 shares of the company's stock in a transaction that occurred 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 have sold a total of 799,500 shares of company stock valued at $70,053,885 in the last ninety days. Insiders own 1.67% of the company's stock.

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.