Amphenol (NYSE:APH) Stock Price Down 1.8% - What's Next?

Key Points

• Amphenol shares fell 1.8% on Friday to $78.15, with trading volume 44% below its average.
• Analysts remain bullish: the stock has a consensus “Buy” rating and a $107 average price target.
• Amphenol beat quarterly earnings and revenue estimates, with revenue up 65.1% year over year; it also cut its quarterly dividend from $0.25 to $0.15 per share and authorized a $4 billion stock-buyback program.

Amphenol Corporation (NYSE:APH - Get Free Report) was down 1.8% during trading on Friday. The company traded as low as $76.05 and last traded at $78.1540. Approximately 9,515,326 shares traded hands during trading, a decline of 44% from the average session volume of 17,111,348 shares. The stock had previously closed at $79.62.

Wall Street Analysts Forecast Growth

APH has been the topic of several recent analyst reports. Royal Bank Of Canada set a $100.00 price objective on Amphenol in a report on Monday, October 26th. BNP Paribas Exane raised their target price on shares of Amphenol from $110.00 to $115.00 and gave the stock an "outperform" rating in a report on Thursday, October 29th. Citigroup restated a "buy" rating and set a $115.00 target price (up from $112.00) on shares of Amphenol in a report on Thursday, October 29th. Barclays lifted their price target on shares of Amphenol from $100.00 to $111.00 and gave the company an "overweight" rating in a research note on Monday, November 2nd. Finally, Weiss Ratings upgraded shares of Amphenol from a "buy (b)" rating to a "buy (b+)" rating in a report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $107.00.

Amphenol Trading Down 1.8%

The company has a market capitalization of $192.98 billion, a P/E ratio of 33.98, a price-to-earnings-growth ratio of 0.94 and a beta of 1.27. The business has a fifty day moving average price of $81.30 and a 200 day moving average price of $75.60. The company has a quick ratio of 1.42, a current ratio of 1.94 and a debt-to-equity ratio of 0.99.

Amphenol (NYSE:APH - Get Free Report) last posted its quarterly earnings data on Wednesday, October 28th. The electronics maker reported $0.80 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.73 by $0.07. Amphenol had a return on equity of 42.53% and a net margin of 17.95%. The business had revenue of $10.23 billion during the quarter, compared to the consensus estimate of $9.49 billion. During the same period last year, the company earned $0.93 earnings per share. Amphenol's quarterly revenue was up 65.1% on a year-over-year basis. On average, analysts expect that Amphenol Corporation will post 2.83 earnings per share for the current fiscal year.

Amphenol Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 13th. Stockholders of record on Tuesday, December 22nd will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Tuesday, December 22nd. This represents a $0.60 annualized dividend and a dividend yield of 0.8%. This is a decrease from Amphenol's previous quarterly dividend of $0.25. Amphenol's dividend payout ratio (DPR) is 21.74%.

Amphenol declared that its Board of Directors has authorized a stock repurchase program on Wednesday, October 28th that allows the company to repurchase $4 billion in shares. This buyback authorization allows the electronics maker to purchase up to 2% of its stock through open market purchases. Share buyback programs are typically a sign that the company's board believes its shares are undervalued.

Insider Transactions at Amphenol

In other Amphenol news, CEO Richard Norwitt sold 799,576 shares of Amphenol stock in a transaction on Monday, November 2nd. The shares were sold at an average price of $82.48, for a total value of $65,949,028.48. Following the sale, the chief executive officer directly owned 3,855,014 shares in the company, valued at approximately $317,961,554.72. The trade was a 17.18% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.42% of the company's stock.

Hedge Funds Weigh In On Amphenol

Several hedge funds have recently modified their holdings of APH. Vaquero Private Wealth Ltd. acquired a new position in Amphenol during the second quarter valued at approximately $32,000. Clal Insurance Enterprises Holdings Ltd increased its position in shares of Amphenol by 85.0% during the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 198 shares of the electronics maker's stock worth $25,000 after purchasing an additional 91 shares during the last quarter. Tompkins Financial Corp increased its position in shares of Amphenol by 81.9% during the 2nd quarter. Tompkins Financial Corp now owns 211 shares of the electronics maker's stock worth $37,000 after purchasing an additional 95 shares during the last quarter. Wilkerson Advisory Group LLC raised its stake in shares of Amphenol by 57.4% during the 1st quarter. Wilkerson Advisory Group LLC now owns 233 shares of the electronics maker's stock worth $29,000 after purchasing an additional 85 shares in the last quarter. Finally, Elevation Wealth Partners LLC raised its stake in shares of Amphenol by 54.5% during the 2nd quarter. Elevation Wealth Partners LLC now owns 241 shares of the electronics maker's stock worth $42,000 after purchasing an additional 85 shares in the last quarter. Institutional investors own 97.01% of the company's stock.

About Amphenol

Amphenol Corporation designs, manufactures and markets electrical, electronic and fiber-optic connectors, interconnect systems, antennas and sensor products. Its offerings also include cable assemblies and related components used to transmit signals and power in electronic equipment and systems. The company serves customers in a range of markets, including communications and information technology, automotive, aerospace and defense, industrial, mobile devices and data networks. Its products are used in applications such as vehicles, communications infrastructure, commercial aircraft and industrial equipment.

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