Amphenol (NYSE:APH) Price Target Raised to $124.00 at Bank of America

Amphenol (NYSE:APH) had its price target lifted by Bank of America from $121.00 to $124.00 in a research note released on Thursday, Benzinga reports. Bank of America currently has a buy rating on the electronics maker’s stock.

Several other research analysts have also recently issued reports on APH. Robert W. Baird lifted their target price on shares of Amphenol from $123.00 to $124.00 and gave the stock an outperform rating in a report on Thursday. Evercore ISI lifted their price target on shares of Amphenol from $125.00 to $130.00 and gave the stock an outperform rating in a research note on Thursday. Stifel Nicolaus lifted their price target on shares of Amphenol from $88.00 to $95.00 and gave the stock a hold rating in a research note on Thursday, January 25th. UBS Group lifted their price target on shares of Amphenol from $135.00 to $138.00 and gave the stock a buy rating in a research note on Thursday. Finally, JPMorgan Chase & Co. lifted their price target on shares of Amphenol from $118.00 to $125.00 and gave the stock an overweight rating in a research note on Thursday, April 11th. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, Amphenol presently has an average rating of Moderate Buy and an average price target of $118.83.

Amphenol Stock Up 0.6 %

NYSE APH traded up $0.71 during trading hours on Thursday, reaching $119.72. 126,460 shares of the company’s stock traded hands, compared to its average volume of 2,837,279. Amphenol has a 52-week low of $72.77 and a 52-week high of $119.94. The firm has a market cap of $72.02 billion, a PE ratio of 36.39, a PEG ratio of 3.10 and a beta of 1.30. The firm has a 50-day simple moving average of $111.74 and a 200 day simple moving average of $99.44. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.06 and a quick ratio of 1.48.

Amphenol (NYSE:APH) last issued its quarterly earnings results on Wednesday, April 24th. The electronics maker reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.73 by $0.07. The company had revenue of $3.26 billion during the quarter, compared to analysts’ expectations of $3.10 billion. Amphenol had a net margin of 15.87% and a return on equity of 23.85%. Amphenol’s revenue was up 9.5% on a year-over-year basis. During the same period last year, the company posted $0.69 EPS. Sell-side analysts anticipate that Amphenol will post 3.29 EPS for the current fiscal year.

Amphenol declared that its board has approved a stock repurchase program on Wednesday, April 24th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the electronics maker to buy up to 2.9% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

Amphenol Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 10th. Shareholders of record on Tuesday, March 19th were issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 0.74%. The ex-dividend date was Monday, March 18th. Amphenol’s dividend payout ratio is currently 26.91%.

Insider Transactions at Amphenol

In other news, insider Peter Straub sold 20,000 shares of the business’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $110.64, for a total value of $2,212,800.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Amphenol news, insider William J. Doherty sold 170,000 shares of the business’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $103.50, for a total transaction of $17,595,000.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Peter Straub sold 20,000 shares of the business’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $110.64, for a total transaction of $2,212,800.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 305,000 shares of company stock valued at $31,846,050. 1.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Louisiana State Employees Retirement System purchased a new stake in shares of Amphenol during the fourth quarter valued at about $3,589,000. West Coast Financial LLC raised its position in shares of Amphenol by 65.0% in the 4th quarter. West Coast Financial LLC now owns 128,911 shares of the electronics maker’s stock valued at $12,779,000 after purchasing an additional 50,778 shares during the last quarter. Cerity Partners LLC raised its position in shares of Amphenol by 63.4% in the 4th quarter. Cerity Partners LLC now owns 38,264 shares of the electronics maker’s stock valued at $3,793,000 after purchasing an additional 14,843 shares during the last quarter. Compagnie Lombard Odier SCmA purchased a new position in shares of Amphenol in the 4th quarter valued at approximately $2,875,000. Finally, Fortune Financial Advisors LLC purchased a new position in shares of Amphenol in the 4th quarter valued at approximately $1,071,000. 97.01% of the stock is currently owned by 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.