Amphenol (NYSE:APH) PT Lowered to $70.00

Amphenol (NYSE:APH) had its target price decreased by research analysts at Bank of America from $71.00 to $70.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has a “neutral” rating on the electronics maker’s stock. Bank of America‘s target price points to a potential upside of 8.43% from the company’s current price.

Other equities analysts have also recently issued research reports about the stock. Truist Financial lifted 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. Evercore ISI reissued an “outperform” rating on shares of Amphenol in a research note on Thursday, June 13th. UBS Group raised their price target on Amphenol from $69.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Vertical Research assumed coverage on Amphenol in a research note on Tuesday, July 23rd. They issued a “hold” rating and a $65.00 price target on the stock. Finally, Robert W. Baird dropped their price objective on Amphenol from $72.00 to $70.00 and set an “outperform” rating for the company in a research note on Thursday, July 25th. 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’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $66.50.

Amphenol Trading Down 0.6 %

Shares of APH stock opened at $64.56 on Wednesday. The business has a 50-day moving average price of $63.95 and a two-hundred day moving average price of $63.82. Amphenol has a 12-month low of $39.34 and a 12-month high of $70.84. The company has a quick ratio of 1.32, a current ratio of 2.02 and a debt-to-equity ratio of 0.56. The firm has a market cap of $77.54 billion, a P/E ratio of 39.82, a price-to-earnings-growth ratio of 2.59 and a beta of 1.24.

Amphenol (NYSE:APH) last released its earnings results on Wednesday, July 24th. The electronics maker reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.03. Amphenol had a return on equity of 24.08% and a net margin of 15.69%. The company had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $3.39 billion. During the same quarter in the previous year, the company posted $0.72 EPS. Amphenol’s quarterly revenue was up 18.2% compared to the same quarter last year. Equities analysts anticipate that Amphenol will post 1.76 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Richard Adam Norwitt sold 750,000 shares of Amphenol stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $64.54, for a total transaction of $48,405,000.00. Following the sale, the chief executive officer now owns 1,934,848 shares of the company’s stock, valued at approximately $124,875,089.92. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Amphenol news, 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 value of $10,897,000.00. Following the completion of the transaction, the insider now owns 447,790 shares in the company, valued at approximately $28,703,339. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Richard Adam Norwitt sold 750,000 shares of the firm’s stock in a transaction 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 transaction, the chief executive officer now directly owns 1,934,848 shares of the company’s stock, valued at $124,875,089.92. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,516,000 shares of company stock worth $98,236,640. 1.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Factory Mutual Insurance Co. boosted its stake in Amphenol by 34.1% during the third quarter. Factory Mutual Insurance Co. now owns 352,634 shares of the electronics maker’s stock worth $22,978,000 after acquiring an additional 89,634 shares in the last quarter. MorganRosel Wealth Management LLC purchased a new stake in shares of Amphenol in the 3rd quarter worth approximately $1,264,000. Exchange Traded Concepts LLC grew its stake in shares of Amphenol by 56.3% in the 3rd quarter. Exchange Traded Concepts LLC now owns 32,579 shares of the electronics maker’s stock worth $2,123,000 after buying an additional 11,730 shares during the last quarter. Retirement Planning Group LLC bought a new position in Amphenol during the 3rd quarter valued at approximately $317,000. Finally, Inspire Investing LLC raised its stake in Amphenol by 2.0% during the third quarter. Inspire Investing LLC now owns 145,107 shares of the electronics maker’s stock valued at $9,455,000 after buying an additional 2,871 shares during the last quarter. 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.