Amphenol (NYSE:APH) Hits New 1-Year High Following Better-Than-Expected Earnings

Amphenol Co. (NYSE:APH) reached a new 52-week high on Wednesday following a stronger than expected earnings report. The stock traded as high as $71.20 and last traded at $69.52, with a volume of 3152020 shares traded. The stock had previously closed at $66.85.

The electronics maker reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.05. Amphenol had a net margin of 15.69% and a return on equity of 24.08%. The firm had revenue of $4.04 billion for the quarter, compared to analyst estimates of $3.81 billion. During the same period in the previous year, the business posted $0.39 earnings per share. Amphenol’s quarterly revenue was up 26.3% on a year-over-year basis.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Vertical Research initiated coverage on Amphenol in a report on Tuesday, July 23rd. They set a “hold” rating and a $65.00 price target for the company. Truist Financial upped their price target on Amphenol from $76.00 to $82.00 and gave the stock a “buy” rating in a research note on Thursday. Robert W. Baird lifted their price objective on Amphenol from $71.00 to $77.00 and gave the company an “outperform” rating in a research note on Thursday. UBS Group lifted their target price on Amphenol from $69.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Finally, Bank of America increased their price target on shares of Amphenol from $70.00 to $74.00 and gave the stock a “neutral” rating in a research report on Thursday. Five equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Amphenol presently has a consensus rating of “Moderate Buy” and an average price target of $69.17.

Insider Activity at Amphenol

In other news, insider Luc Walter sold 170,000 shares of the business’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $64.10, for a total transaction of $10,897,000.00. Following the completion of the sale, the insider now owns 447,790 shares in the company, valued at approximately $28,703,339. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider William J. Doherty sold 300,000 shares of the firm’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $65.83, for a total value of $19,749,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Luc Walter sold 170,000 shares of the firm’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $64.10, for a total transaction of $10,897,000.00. Following the completion of the sale, the insider now owns 447,790 shares of the company’s stock, valued at approximately $28,703,339. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 570,000 shares of company stock valued at $37,209,000 over the last three months. 1.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Amphenol

Hedge funds and other institutional investors have recently bought and sold shares of the company. Hunter Associates Investment Management LLC lifted its holdings in shares of Amphenol by 2.5% in the third quarter. Hunter Associates Investment Management LLC now owns 20,243 shares of the electronics maker’s stock valued at $1,318,000 after purchasing an additional 488 shares in the last quarter. Semanteon Capital Management LP purchased a new position in Amphenol in the 3rd quarter valued at about $1,094,000. KP Management LLC boosted its stake in shares of Amphenol by 12.5% during the 3rd quarter. KP Management LLC now owns 45,000 shares of the electronics maker’s stock worth $2,932,000 after purchasing an additional 5,000 shares during the last quarter. State of Alaska Department of Revenue grew its holdings in shares of Amphenol by 5.3% during the third quarter. State of Alaska Department of Revenue now owns 142,336 shares of the electronics maker’s stock worth $9,274,000 after buying an additional 7,170 shares in the last quarter. Finally, Valley National Advisers Inc. raised its position in shares of Amphenol by 1,454.6% in the third quarter. Valley National Advisers Inc. now owns 29,305 shares of the electronics maker’s stock valued at $1,908,000 after buying an additional 27,420 shares during the last quarter. 97.01% of the stock is owned by institutional investors and hedge funds.

Amphenol Stock Up 2.0 %

The firm has a market cap of $83.86 billion, a PE ratio of 42.83, a P/E/G ratio of 2.56 and a beta of 1.24. The company has a quick ratio of 1.32, a current ratio of 2.02 and a debt-to-equity ratio of 0.56. The firm’s 50 day moving average is $64.96 and its 200-day moving average is $64.47.

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.