Bank of America Increases Amphenol (NYSE:APH) Price Target to $74.00

Amphenol (NYSE:APH) had its price objective raised by analysts at Bank of America from $70.00 to $74.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage presently has a “neutral” rating on the electronics maker’s stock. Bank of America‘s target price indicates a potential upside of 6.61% from the stock’s current price.

APH has been the subject of a number of other research reports. Truist Financial upped their price target on shares of Amphenol from $74.50 to $76.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Robert W. Baird lowered their target price on Amphenol from $72.00 to $70.00 and set an “outperform” rating for the company in a research note on Thursday, July 25th. Vertical Research started coverage on shares of Amphenol in a research note on Tuesday, July 23rd. They issued a “hold” rating and a $65.00 price target on the stock. Finally, UBS Group increased their price objective on shares of Amphenol from $69.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. 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. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $69.63.

Amphenol Trading Down 0.6 %

Shares of APH stock opened at $69.41 on Thursday. The stock has a market cap of $83.38 billion, a P/E ratio of 42.48, a price-to-earnings-growth ratio of 2.56 and a beta of 1.24. Amphenol has a 1 year low of $39.48 and a 1 year high of $71.20. The company has a current ratio of 2.02, a quick ratio of 1.32 and a debt-to-equity ratio of 0.56. The stock has a 50 day simple moving average of $65.03 and a 200 day simple moving average of $64.51.

Amphenol (NYSE:APH) last released its earnings results on Wednesday, October 23rd. The electronics maker reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.05. Amphenol had a return on equity of 24.08% and a net margin of 15.69%. The firm had revenue of $4.04 billion during the quarter, compared to the consensus estimate of $3.81 billion. During the same period in the prior year, the company posted $0.39 EPS. The company’s revenue was up 26.3% compared to the same quarter last year. On average, research analysts predict that Amphenol will post 1.76 earnings per share for the current fiscal year.

Insider Activity

In related news, VP Lance E. D’amico sold 100,000 shares of Amphenol stock in a transaction that occurred on 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 transaction, the vice president now directly owns 51,400 shares of the company’s stock, valued at $3,373,382. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, VP Lance E. D’amico sold 100,000 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $65.63, for a total value of $6,563,000.00. Following the transaction, the vice president now owns 51,400 shares in the company, valued at approximately $3,373,382. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Luc Walter sold 170,000 shares of Amphenol stock in a transaction on Monday, July 29th. The stock was sold at an average price of $64.10, for a total transaction of $10,897,000.00. Following the transaction, the insider now directly owns 447,790 shares of the company’s stock, valued at $28,703,339. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 570,000 shares of company stock valued at $37,209,000. Company insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Amphenol

Large investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp grew its position in Amphenol by 92.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 36,637,988 shares of the electronics maker’s stock valued at $2,468,301,000 after purchasing an additional 17,552,921 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in Amphenol by 69.1% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 23,225,629 shares of the electronics maker’s stock worth $1,564,711,000 after acquiring an additional 9,487,387 shares during the last quarter. Mawer Investment Management Ltd. raised its holdings in shares of Amphenol by 88.9% in the second quarter. Mawer Investment Management Ltd. now owns 15,455,006 shares of the electronics maker’s stock valued at $1,041,204,000 after purchasing an additional 7,275,279 shares during the last quarter. Legal & General Group Plc lifted its position in shares of Amphenol by 116.6% during the second quarter. Legal & General Group Plc now owns 9,833,128 shares of the electronics maker’s stock valued at $662,458,000 after purchasing an additional 5,293,292 shares in the last quarter. Finally, National Bank of Canada FI grew its position in Amphenol by 263.0% in the 2nd quarter. National Bank of Canada FI now owns 3,568,426 shares of the electronics maker’s stock worth $240,935,000 after purchasing an additional 2,585,282 shares in the last quarter. 97.01% of the stock is currently owned by institutional investors and hedge funds.

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.