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

Amphenol (NYSE:APH) had its price objective raised by research analysts at Bank of America from $121.00 to $124.00 in a note issued to investors on Thursday, Benzinga reports. The firm currently has a “buy” rating on the electronics maker’s stock. Bank of America‘s price objective indicates a potential upside of 5.08% from the stock’s previous close.

APH has been the topic of a number of other research reports. Evercore ISI raised their price target on shares of Amphenol from $125.00 to $130.00 and gave the stock an “outperform” rating in a report on Thursday. JPMorgan Chase & Co. lifted their price target on shares of Amphenol from $118.00 to $125.00 and gave the company an “overweight” rating in a research report on Thursday, April 11th. Robert W. Baird lifted their price target on Amphenol from $123.00 to $124.00 and gave the stock an “outperform” rating in a research report on Thursday. UBS Group upped their price objective on Amphenol from $135.00 to $138.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Citigroup raised their price target on shares of Amphenol from $117.00 to $135.00 and gave the company a “buy” rating in a report on Thursday, April 4th. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Amphenol currently has an average rating of “Moderate Buy” and a consensus target price of $116.58.

Amphenol Stock Up 1.5 %

NYSE APH traded up $1.70 on Thursday, reaching $118.01. The company had a trading volume of 2,050,937 shares, compared to its average volume of 2,840,594. Amphenol has a 52-week low of $72.00 and a 52-week high of $119.59. The stock has a market capitalization of $70.99 billion, a P/E ratio of 37.88, a P/E/G ratio of 3.06 and a beta of 1.30. The company’s fifty day moving average is $111.48 and its 200 day moving average is $99.30. The company has a quick ratio of 1.48, a current ratio of 2.17 and a debt-to-equity ratio of 0.47.

Amphenol (NYSE:APH) last issued its earnings results on Wednesday, April 24th. The electronics maker reported $0.80 EPS for the quarter, topping the consensus estimate of $0.73 by $0.07. The business 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 23.94% and a net margin of 15.36%. The firm’s revenue was up 9.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.69 EPS. Sell-side analysts anticipate that Amphenol will post 3.28 earnings per share for the current fiscal year.

Amphenol announced that its board has initiated a share repurchase plan 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 plans are generally a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In other Amphenol news, insider Peter Straub sold 20,000 shares of the firm’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $110.64, for a total value of $2,212,800.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, VP Lance E. D’amico sold 15,000 shares of the company’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $104.75, for a total value of $1,571,250.00. Following the completion of the sale, the vice president now owns 25,700 shares in the company, valued at approximately $2,692,075. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Peter Straub sold 20,000 shares of Amphenol stock in a transaction that occurred 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 disclosure for this sale can be found here. Insiders sold a total of 305,000 shares of company stock worth $31,846,050 in the last 90 days. Insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Amphenol

Institutional investors and hedge funds have recently made changes to their positions in the stock. Peoples Bank KS acquired a new stake in Amphenol in the 3rd quarter valued at about $27,000. Frazier Financial Advisors LLC purchased a new position in shares of Amphenol during the 4th quarter worth $29,000. Mendota Financial Group LLC acquired a new stake in Amphenol in the 4th quarter worth about $33,000. Venturi Wealth Management LLC boosted its position in shares of Amphenol by 75.5% in the fourth quarter. Venturi Wealth Management LLC now owns 330 shares of the electronics maker’s stock worth $33,000 after acquiring an additional 142 shares during the last quarter. Finally, Avior Wealth Management LLC increased its holdings in shares of Amphenol by 70.8% during the 4th quarter. Avior Wealth Management LLC now owns 333 shares of the electronics maker’s stock worth $33,000 after buying an additional 138 shares during the last quarter. 97.01% of the stock is owned by institutional investors and hedge funds.

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.