Amphenol (NYSE:APH) Price Target Cut to $70.00

Amphenol (NYSE:APH) had its target price reduced by equities researchers at Bank of America from $71.00 to $70.00 in a note issued to investors on Wednesday, Benzinga reports. The firm presently has a “neutral” rating on the electronics maker’s stock. Bank of America‘s price target suggests a potential upside of 7.97% from the stock’s current price.

Other research analysts also recently issued reports about the company. Evercore ISI reaffirmed an “outperform” rating on shares of Amphenol in a report on Thursday, June 13th. Truist Financial boosted their price objective on Amphenol from $74.50 to $76.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Vertical Research began coverage on Amphenol in a report on Tuesday, July 23rd. They set a “hold” rating and a $65.00 price objective for the company. UBS Group boosted their price objective on Amphenol from $69.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Finally, Stifel Nicolaus reissued a “hold” rating on shares of Amphenol in a report on Thursday, June 13th. Five investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $66.50.

Amphenol Trading Up 0.8 %

Shares of Amphenol stock traded up $0.50 during trading hours on Wednesday, hitting $64.83. The company’s stock had a trading volume of 2,260,382 shares, compared to its average volume of 6,512,804. Amphenol has a 12 month low of $39.34 and a 12 month high of $70.84. The stock has a 50 day moving average of $63.94 and a 200 day moving average of $63.81. The company has a market capitalization of $77.87 billion, a PE ratio of 39.77, a price-to-earnings-growth ratio of 2.59 and a beta of 1.24. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.02 and a quick ratio of 1.32.

Amphenol (NYSE:APH) last released its quarterly earnings data on Wednesday, July 24th. The electronics maker reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.03. Amphenol had a return on equity of 24.08% and a net margin of 15.69%. The company had revenue of $3.61 billion during the quarter, compared to analysts’ expectations of $3.39 billion. During the same period last year, the firm posted $0.72 earnings per share. The business’s revenue was up 18.2% on a year-over-year basis. Analysts predict that Amphenol will post 1.76 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider William J. Doherty sold 300,000 shares of the company’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 SEC, which is available at this hyperlink. In other 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 sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Lance E. D’amico sold 90,000 shares of the stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $64.65, for a total transaction of $5,818,500.00. Following the sale, the vice president now owns 51,400 shares of the company’s stock, valued at approximately $3,323,010. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,516,000 shares of company stock worth $98,236,640 over the last 90 days. Corporate insiders own 1.80% of the company’s stock.

Institutional Trading of Amphenol

Institutional investors and hedge funds have recently bought and sold shares of the stock. Beacon Capital Management LLC lifted its holdings in 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 buying an additional 206 shares during the period. New England Capital Financial Advisors LLC increased its stake in shares of Amphenol by 100.0% during the second quarter. New England Capital Financial Advisors LLC now owns 376 shares of the electronics maker’s stock valued at $25,000 after purchasing an additional 188 shares in the last quarter. Sachetta LLC increased its stake in shares of Amphenol by 131.1% during the second quarter. Sachetta LLC now owns 439 shares of the electronics maker’s stock valued at $27,000 after purchasing an additional 249 shares in the last quarter. Opal Wealth Advisors LLC bought a new stake in shares of Amphenol during the second quarter valued at approximately $29,000. Finally, New Millennium Group LLC bought a new stake in shares of Amphenol during the second quarter valued at approximately $31,000. 97.01% of the stock is currently owned by hedge funds and other institutional investors.

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.