Amphenol (NYSE:APH) Hits New 1-Year High Following Earnings Beat

Amphenol Co. (NYSE:APH) shares hit a new 52-week high during trading on Wednesday following a stronger than expected earnings report. The stock traded as high as $76.30 and last traded at $74.65, with a volume of 364197 shares. The stock had previously closed at $72.72.

The electronics maker reported $0.55 EPS for the quarter, topping the consensus estimate of $0.50 by $0.05. The firm had revenue of $4.32 billion during the quarter, compared to analysts’ expectations of $4,051,810 billion. Amphenol had a return on equity of 24.68% and a net margin of 15.40%. The firm’s revenue for the quarter was up 29.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.82 earnings per share.

Amphenol Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 8th. Shareholders of record on Tuesday, December 17th were given a dividend of $0.165 per share. The ex-dividend date was Tuesday, December 17th. This represents a $0.66 dividend on an annualized basis and a yield of 0.85%. Amphenol’s payout ratio is 37.93%.

Wall Street Analyst Weigh In

Several analysts have recently commented on APH shares. Truist Financial raised their price target on Amphenol from $76.00 to $82.00 and gave the company a “buy” rating in a report on Thursday, October 24th. 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 report on Thursday, October 24th. Bank of America lifted their target price on Amphenol from $70.00 to $74.00 and gave the company a “neutral” rating in a report on Thursday, October 24th. TD Cowen boosted their price objective on Amphenol from $60.00 to $63.00 and gave the stock a “hold” rating in a research note on Friday, October 25th. Finally, Evercore ISI boosted their price objective on Amphenol from $75.00 to $80.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Five investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Amphenol currently has a consensus rating of “Moderate Buy” and an average target price of $69.79.

Insider Activity

In other news, insider Peter Straub sold 132,000 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $74.12, for a total transaction of $9,783,840.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP David M. Silverman sold 180,000 shares of the business’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $68.84, for a total transaction of $12,391,200.00. Following the sale, the vice president now directly owns 14,000 shares in the company, valued at approximately $963,760. This trade represents a 92.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,842,672 shares of company stock valued at $128,858,080. 1.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Amphenol

Hedge funds have recently modified their holdings of the stock. XTX Topco Ltd bought a new stake in shares of Amphenol in the second quarter valued at about $242,000. AE Wealth Management LLC increased its holdings in shares of Amphenol by 154.7% in the second quarter. AE Wealth Management LLC now owns 7,690 shares of the electronics maker’s stock valued at $518,000 after purchasing an additional 4,671 shares in the last quarter. 1832 Asset Management L.P. increased its holdings in shares of Amphenol by 132.0% in the second quarter. 1832 Asset Management L.P. now owns 83,207 shares of the electronics maker’s stock valued at $5,606,000 after purchasing an additional 47,341 shares in the last quarter. Gabelli Funds LLC boosted its stake in Amphenol by 100.0% in the second quarter. Gabelli Funds LLC now owns 83,000 shares of the electronics maker’s stock valued at $5,592,000 after acquiring an additional 41,500 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of Amphenol by 107.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,041 shares of the electronics maker’s stock valued at $195,000 after buying an additional 1,576 shares during the period. 97.01% of the stock is owned by institutional investors and hedge funds.

Amphenol Stock Up 7.0 %

The company has a market cap of $93.84 billion, a price-to-earnings ratio of 44.73, a price-to-earnings-growth ratio of 1.89 and a beta of 1.24. The company has a current ratio of 1.99, a quick ratio of 1.33 and a debt-to-equity ratio of 0.53. The firm’s fifty day moving average price is $71.75 and its 200-day moving average price is $67.79.

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.