Truist Financial Forecasts Strong Price Appreciation for Amphenol (NYSE:APH) Stock

Amphenol (NYSE:APH) had its target price raised by investment analysts at Truist Financial from $90.00 to $102.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the electronics maker’s stock. Truist Financial’s target price would suggest a potential upside of 32.30% from the stock’s current price.

APH has been the topic of a number of other reports. Bank of America raised their price target on Amphenol from $75.00 to $85.00 and gave the company a “neutral” rating in a report on Thursday. TD Cowen lifted their target price on Amphenol from $60.00 to $63.00 and gave the stock a “hold” rating in a report on Friday, October 25th. JPMorgan Chase & Co. lifted their target price on Amphenol from $85.00 to $90.00 and gave the stock an “overweight” rating in a report on Thursday. Citigroup lifted their target price on Amphenol from $81.00 to $82.00 and gave the stock a “buy” rating in a report on Friday, January 17th. Finally, Evercore ISI lifted their target price on Amphenol from $75.00 to $80.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Five research 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 stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $77.92.

Amphenol Price Performance

NYSE:APH opened at $77.10 on Thursday. The company has a quick ratio of 1.33, a current ratio of 2.37 and a debt-to-equity ratio of 0.66. The business’s 50-day simple moving average is $71.98 and its two-hundred day simple moving average is $67.93. The stock has a market cap of $92.95 billion, a PE ratio of 40.26, a P/E/G ratio of 2.12 and a beta of 1.24. Amphenol has a 52 week low of $49.38 and a 52 week high of $79.39.

Amphenol (NYSE:APH) last posted its quarterly earnings results on Wednesday, January 22nd. The electronics maker reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.50 by $0.05. The business had revenue of $4.32 billion for the quarter, compared to analysts’ expectations of $4,051,810 billion. Amphenol had a return on equity of 25.67% and a net margin of 15.92%. The business’s quarterly revenue was up 29.8% on a year-over-year basis. During the same period last year, the firm earned $0.82 earnings per share. As a group, analysts forecast that Amphenol will post 2.17 EPS for the current fiscal year.

Insider Transactions at Amphenol

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 document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Craig A. Lampo sold 150,000 shares of the stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $68.76, for a total value of $10,314,000.00. Following the sale, the chief financial officer now owns 218,116 shares of the company’s stock, valued at approximately $14,997,656.16. This represents a 40.75 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,842,672 shares of company stock worth $128,858,080. 1.80% of the stock is currently owned by company insiders.

Institutional Trading of Amphenol

Several hedge funds and other institutional investors have recently made changes to their positions in the business. State Street Corp raised its stake in Amphenol by 3.0% in the 3rd quarter. State Street Corp now owns 53,534,216 shares of the electronics maker’s stock worth $3,496,777,000 after acquiring an additional 1,537,880 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Amphenol by 2.3% during the 3rd quarter. Geode Capital Management LLC now owns 24,666,093 shares of the electronics maker’s stock valued at $1,601,540,000 after buying an additional 564,991 shares during the last quarter. Legal & General Group Plc raised its stake in shares of Amphenol by 116.6% during the 2nd quarter. Legal & General Group Plc now owns 9,833,128 shares of the electronics maker’s stock valued at $662,458,000 after buying an additional 5,293,292 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Amphenol by 1.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,558,670 shares of the electronics maker’s stock valued at $427,363,000 after buying an additional 63,180 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. raised its stake in shares of Amphenol by 25.2% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 5,329,913 shares of the electronics maker’s stock valued at $347,297,000 after buying an additional 1,073,480 shares during the last quarter. Hedge funds and other institutional investors own 97.01% of the company’s stock.

About Amphenol

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.