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

Amphenol (NYSE:APH) had its price target boosted by investment analysts at Bank of America from $70.00 to $74.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage currently has a “neutral” rating on the electronics maker’s stock. Bank of America‘s price target indicates a potential upside of 8.08% from the stock’s current price.

A number of other equities analysts have also issued reports on APH. Truist Financial upped their target price on shares of Amphenol from $74.50 to $76.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Vertical Research initiated coverage on shares of Amphenol in a research report on Tuesday, July 23rd. They set a “hold” rating and a $65.00 target price on the stock. 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 upped their target price on shares of Amphenol from $69.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Five research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Amphenol presently has a consensus rating of “Moderate Buy” and a consensus price target of $67.42.

Amphenol Stock Performance

NYSE APH opened at $68.47 on Thursday. The stock has a market cap of $82.25 billion, a P/E ratio of 42.01, a PEG ratio of 2.56 and a beta of 1.24. The company’s 50-day simple moving average is $64.96 and its 200 day simple moving average is $64.47. Amphenol has a twelve month low of $39.34 and a twelve month high of $71.20. The company has a quick ratio of 1.32, a current ratio of 2.02 and a debt-to-equity ratio of 0.56.

Amphenol (NYSE:APH) last issued its quarterly earnings data on Wednesday, October 23rd. The electronics maker reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.05. The firm had revenue of $4.04 billion for the quarter, compared to analysts’ expectations of $3.81 billion. Amphenol had a net margin of 15.69% and a return on equity of 24.08%. The company’s quarterly revenue was up 26.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.39 earnings per share. As a group, research analysts forecast that Amphenol will post 1.76 earnings per share for the current fiscal year.

Insider Buying and Selling at Amphenol

In other Amphenol news, CEO Richard Adam Norwitt sold 750,000 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $64.54, for a total value of $48,405,000.00. Following the completion of the sale, the chief executive officer now owns 1,934,848 shares of the company’s stock, valued at approximately $124,875,089.92. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Amphenol news, CEO Richard Adam Norwitt sold 750,000 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $64.54, for a total value of $48,405,000.00. Following the completion of the sale, the chief executive officer now owns 1,934,848 shares of the company’s stock, valued at approximately $124,875,089.92. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Luc Walter sold 170,000 shares of the 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 sale, 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 90 days, insiders sold 1,516,000 shares of company stock valued at $98,236,640. Corporate insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in APH. Bank of New York Mellon Corp grew its position in Amphenol by 92.0% in the second 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 in the last quarter. Massachusetts Financial Services Co. MA grew its position in Amphenol by 69.1% in the second quarter. Massachusetts Financial Services Co. MA now owns 23,225,629 shares of the electronics maker’s stock valued at $1,564,711,000 after purchasing an additional 9,487,387 shares in the last quarter. Mawer Investment Management Ltd. grew its position in 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 in the last quarter. Legal & General Group Plc grew its position in Amphenol by 116.6% in 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 second quarter. National Bank of Canada FI now owns 3,568,426 shares of the electronics maker’s stock valued at $240,935,000 after purchasing an additional 2,585,282 shares in the last quarter. 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.