UBS Group Boosts Amphenol (NYSE:APH) Price Target to $80.00

Amphenol (NYSE:APH) had its target price lifted by UBS Group from $69.00 to $80.00 in a research report released on Wednesday morning, Benzinga reports. They currently have a buy rating on the electronics maker’s stock.

APH has been the subject of a number of other research reports. Jefferies Financial Group assumed coverage on Amphenol in a report on Tuesday, April 9th. They set a hold rating and a $62.50 target price for the company. Truist Financial upped their price target on Amphenol from $68.00 to $74.50 and gave the stock a buy rating in a research note on Friday, May 24th. Citigroup upped their price target on Amphenol from $67.50 to $80.00 and gave the stock a buy rating in a research note on Tuesday, May 28th. Stifel Nicolaus reaffirmed a hold rating on shares of Amphenol in a research note on Thursday, June 13th. Finally, Seaport Res Ptn raised Amphenol to a strong-buy rating in a research note on Monday, May 20th. Four analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average target price of $64.58.

Amphenol Price Performance

Shares of Amphenol stock opened at $69.88 on Wednesday. The company has a quick ratio of 1.43, a current ratio of 2.06 and a debt-to-equity ratio of 0.41. The company has a market cap of $83.94 billion, a PE ratio of 42.74, a P/E/G ratio of 3.27 and a beta of 1.25. The business has a 50 day moving average of $66.99 and a 200 day moving average of $58.34. Amphenol has a 52 week low of $39.34 and a 52 week high of $70.84.

Amphenol (NYSE:APH) last announced its earnings results on Wednesday, April 24th. The electronics maker reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.04. The company had revenue of $3.26 billion during the quarter, compared to the consensus estimate of $3.10 billion. Amphenol had a return on equity of 23.85% and a net margin of 15.87%. The firm’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.35 earnings per share. As a group, equities research analysts forecast that Amphenol will post 1.69 earnings per share for the current year.

Amphenol announced that its board has approved a stock repurchase plan on Wednesday, April 24th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the electronics maker to purchase up to 2.9% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Amphenol Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 10th. Stockholders of record on Tuesday, June 18th were paid a $0.22 dividend. The ex-dividend date of this dividend was Tuesday, June 18th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.26%. Amphenol’s dividend payout ratio is currently 26.91%.

Insider Activity at Amphenol

In related news, insider Luc Walter sold 230,000 shares of the stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $67.57, for a total transaction of $15,541,100.00. Following the sale, the insider now directly owns 397,280 shares of the company’s stock, valued at $26,844,209.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 1.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Amphenol

Institutional investors have recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in Amphenol by 0.4% in the first quarter. Vanguard Group Inc. now owns 73,459,971 shares of the electronics maker’s stock valued at $8,473,608,000 after acquiring an additional 321,861 shares during the period. Price T Rowe Associates Inc. MD raised its stake in shares of Amphenol by 6.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 31,224,036 shares of the electronics maker’s stock worth $3,601,694,000 after buying an additional 1,979,022 shares during the period. Massachusetts Financial Services Co. MA raised its stake in shares of Amphenol by 0.5% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 13,212,184 shares of the electronics maker’s stock worth $1,309,724,000 after buying an additional 67,091 shares during the period. Norges Bank bought a new position in shares of Amphenol in the fourth quarter worth about $1,078,167,000. Finally, Franklin Resources Inc. raised its stake in shares of Amphenol by 0.5% in the fourth quarter. Franklin Resources Inc. now owns 4,015,628 shares of the electronics maker’s stock worth $398,069,000 after buying an additional 20,521 shares during the period. 97.01% of the stock is 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.