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

Amphenol (NYSE:APH) had its price target raised by Bank of America from $70.00 to $74.00 in a research note issued to investors on Thursday, Benzinga reports. The firm currently has a neutral rating on the electronics maker’s stock.

A number of other research analysts have also recently commented on APH. Truist Financial raised their target price on Amphenol from $74.50 to $76.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Vertical Research started coverage on Amphenol in a research report on Tuesday, July 23rd. They set a “hold” rating and a $65.00 price objective for the company. Robert W. Baird reduced their target price on shares of Amphenol from $72.00 to $70.00 and set an “outperform” rating on the stock in a research report on Thursday, July 25th. Finally, UBS Group lifted their price target on shares of Amphenol from $69.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. 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 company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $69.63.

Amphenol Stock Down 0.6 %

Shares of Amphenol stock opened at $69.41 on Thursday. The company has a current ratio of 2.02, a quick ratio of 1.32 and a debt-to-equity ratio of 0.56. Amphenol has a 12-month low of $39.48 and a 12-month high of $71.20. The company has a market cap of $83.38 billion, a P/E ratio of 42.58, a PEG ratio of 2.56 and a beta of 1.24. The company’s fifty day simple moving average is $65.10 and its two-hundred day simple moving average is $64.58.

Amphenol (NYSE:APH) last announced its quarterly earnings results on Wednesday, October 23rd. The electronics maker reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.05. Amphenol had a net margin of 15.69% and a return on equity of 24.08%. The company had revenue of $4.04 billion for the quarter, compared to analysts’ expectations of $3.81 billion. During the same quarter in the previous year, the company earned $0.39 earnings per share. Amphenol’s quarterly revenue was up 26.3% on a year-over-year basis. Research analysts anticipate that Amphenol will post 1.76 EPS for the current year.

Insider Transactions at Amphenol

In related news, insider Luc Walter sold 170,000 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $64.10, for a total transaction of $10,897,000.00. Following the completion of the sale, the insider now owns 447,790 shares of the company’s stock, valued at $28,703,339. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, VP Lance E. D’amico sold 100,000 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $65.63, for a total transaction of $6,563,000.00. Following the sale, the vice president now owns 51,400 shares of the company’s stock, valued at $3,373,382. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Luc Walter sold 170,000 shares of the stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $64.10, for a total transaction of $10,897,000.00. Following the transaction, the insider now owns 447,790 shares in the company, valued at approximately $28,703,339. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 570,000 shares of company stock worth $37,209,000. Corporate insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Amphenol

Hedge funds have recently added to or reduced their stakes in the stock. Beacon Capital Management LLC grew 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 acquiring an additional 206 shares during the period. New England Capital Financial Advisors LLC increased its position in shares of Amphenol by 100.0% during the 2nd 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 during the last quarter. Sachetta LLC boosted 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 buying an additional 249 shares during the last quarter. Trifecta Capital Advisors LLC increased its holdings in Amphenol by 352.1% during the third quarter. Trifecta Capital Advisors LLC now owns 434 shares of the electronics maker’s stock valued at $28,000 after buying an additional 338 shares during the last quarter. Finally, Opal Wealth Advisors LLC bought a new position in Amphenol in the second quarter worth approximately $29,000. 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.