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

by · The Markets Daily

Amphenol Co. (NYSE:APH – Get Free Report) shares hit a new 52-week high on Wednesday after the company announced better than expected quarterly earnings. The company 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 (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.05. The firm had revenue of $4.04 billion for the quarter, compared to the consensus estimate of $3.81 billion. Amphenol had a return on equity of 24.08% and a net margin of 15.69%. The company’s revenue for the quarter was up 26.3% on a year-over-year basis. During the same period last year, the business posted $0.39 EPS.

Wall Street Analysts Forecast Growth

APH has been the topic of a number of research reports. Vertical Research initiated coverage on Amphenol in a research note on Tuesday, July 23rd. They issued a “hold” rating and a $65.00 price target on the stock. Truist Financial raised their price target on Amphenol from $76.00 to $82.00 and gave the stock a “buy” 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. Robert W. Baird lifted their target price on Amphenol from $71.00 to $77.00 and gave the company an “outperform” rating in a research report on Thursday. Finally, Evercore ISI lifted their target price on Amphenol from $75.00 to $80.00 and gave the company an “outperform” rating in a research report on Thursday. Five research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $69.17.

View Our Latest Report on Amphenol

Insider Buying and Selling at Amphenol

In other Amphenol news, insider William J. Doherty sold 300,000 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $65.83, for a total transaction of $19,749,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, VP Lance E. D’amico sold 100,000 shares of Amphenol stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $65.63, for a total value of $6,563,000.00. Following the sale, the vice president now directly owns 51,400 shares of the company’s stock, valued at approximately $3,373,382. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider William J. Doherty sold 300,000 shares of Amphenol stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $65.83, for a total value of $19,749,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 570,000 shares of company stock valued at $37,209,000 over the last ninety days. 1.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Amphenol

Large investors have recently made changes to their positions in the company. Beacon Capital Management LLC increased its holdings in shares of Amphenol by 121.2% in the second quarter. Beacon Capital Management LLC now owns 376 shares of the electronics maker’s stock worth $25,000 after purchasing an additional 206 shares during the last quarter. New England Capital Financial Advisors LLC increased its holdings in shares of Amphenol by 100.0% in the second quarter. New England Capital Financial Advisors LLC now owns 376 shares of the electronics maker’s stock worth $25,000 after purchasing an additional 188 shares during the last quarter. Opal Wealth Advisors LLC bought a new stake in shares of Amphenol in the second quarter worth about $29,000. Trifecta Capital Advisors LLC increased its holdings in shares of Amphenol by 352.1% in the third quarter. Trifecta Capital Advisors LLC now owns 434 shares of the electronics maker’s stock worth $28,000 after purchasing an additional 338 shares during the last quarter. Finally, Sachetta LLC increased its holdings in shares of Amphenol by 131.1% in the second quarter. Sachetta LLC now owns 439 shares of the electronics maker’s stock worth $27,000 after purchasing an additional 249 shares during the last quarter. 97.01% of the stock is owned by institutional investors.

Amphenol Stock Up 2.0 %

The company has a 50 day simple moving average of $64.96 and a two-hundred day simple moving average of $64.47. 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 company has a market capitalization of $83.86 billion, a P/E ratio of 42.83, a PEG ratio of 2.56 and a beta of 1.24.

Amphenol Company Profile

(Get Free Report)

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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