Amphenol (NYSE:APH) Reaches New 52-Week High on Analyst Upgrade

Amphenol Co. (NYSE:APH - Get Free Report)'s stock price hit a new 52-week high on Friday after Truist Financial raised their price target on the stock from $121.00 to $136.00. Truist Financial currently has a buy rating on the stock. Amphenol traded as high as $120.22 and last traded at $120.13, with a volume of 326775 shares changing hands. The stock had previously closed at $119.01.

Several other research firms have also recently issued reports on APH. Jefferies Financial Group began coverage on Amphenol in a report on Tuesday, April 9th. They issued a "hold" rating and a $125.00 price target on the stock. Robert W. Baird raised their price target on Amphenol from $123.00 to $124.00 and gave the company an "outperform" rating in a report on Thursday. The Goldman Sachs Group raised their price target on Amphenol from $107.00 to $119.00 and gave the company a "buy" rating in a report on Thursday, January 25th. Evercore ISI raised their price target on Amphenol from $125.00 to $130.00 and gave the company an "outperform" rating in a report on Thursday. Finally, Stifel Nicolaus raised their price target on Amphenol from $88.00 to $95.00 and gave the company a "hold" rating in a report on Thursday, January 25th. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $118.83.

Insider Activity

In other news, VP Lance E. D'amico sold 15,000 shares of Amphenol stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $104.75, for a total transaction of $1,571,250.00. Following the transaction, the vice president now owns 25,700 shares in the company, valued at approximately $2,692,075. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Peter Straub sold 20,000 shares of Amphenol stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $110.64, for a total transaction of $2,212,800.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Lance E. D'amico sold 15,000 shares of Amphenol stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $104.75, for a total value of $1,571,250.00. Following the completion of the sale, the vice president now directly owns 25,700 shares in the company, valued at approximately $2,692,075. The disclosure for this sale can be found here. Insiders have sold 305,000 shares of company stock worth $31,846,050 in the last 90 days. Corporate insiders own 1.80% of the company's stock.

Institutional Investors Weigh In On Amphenol

Hedge funds and other institutional investors have recently bought and sold shares of the company. Frazier Financial Advisors LLC acquired a new stake in Amphenol in the 4th quarter valued at approximately $29,000. Peoples Bank KS acquired a new stake in Amphenol in the 3rd quarter valued at approximately $27,000. WASHINGTON TRUST Co raised its position in Amphenol by 88.2% in the 1st quarter. WASHINGTON TRUST Co now owns 320 shares of the electronics maker's stock valued at $37,000 after buying an additional 150 shares during the last quarter. Venturi Wealth Management LLC raised its position in Amphenol by 75.5% in the 4th quarter. Venturi Wealth Management LLC now owns 330 shares of the electronics maker's stock valued at $33,000 after buying an additional 142 shares during the last quarter. Finally, Avior Wealth Management LLC raised its position in Amphenol by 70.8% in the 4th quarter. Avior Wealth Management LLC now owns 333 shares of the electronics maker's stock valued at $33,000 after buying an additional 138 shares during the last quarter. Institutional investors and hedge funds own 97.01% of the company's stock.

Amphenol Stock Performance

The firm has a market cap of $72.48 billion, a price-to-earnings ratio of 36.85, a price-to-earnings-growth ratio of 3.10 and a beta of 1.30. The stock has a 50-day moving average of $112.04 and a 200-day moving average of $99.70. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.48 and a current ratio of 2.06.

Amphenol (NYSE:APH - Get Free Report) last posted its quarterly earnings results on Wednesday, April 24th. The electronics maker reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.07. The firm had revenue of $3.26 billion for the quarter, compared to analyst estimates of $3.10 billion. Amphenol had a return on equity of 23.85% and a net margin of 15.87%. The business's quarterly revenue was up 9.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.69 EPS. As a group, analysts anticipate that Amphenol Co. will post 3.29 EPS for the current fiscal year.

Amphenol Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 10th. Shareholders of record on Tuesday, March 19th were given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 0.73%. The ex-dividend date was Monday, March 18th. Amphenol's dividend payout ratio (DPR) is 26.91%.

Amphenol declared that its board has authorized a stock buyback program on Wednesday, April 24th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the electronics maker to reacquire up to 2.9% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's leadership believes its shares are undervalued.

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.