Bank of America Issues Positive Forecast for Amphenol (NYSE:APH) Stock Price

Amphenol (NYSE:APH) had its price target hoisted by investment analysts at Bank of America from $75.00 to $85.00 in a research report issued on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the electronics maker’s stock. Bank of America‘s price target would suggest a potential upside of 9.20% from the stock’s current price.

Several other equities analysts also recently issued reports on APH. Evercore ISI raised their price target on shares of Amphenol from $75.00 to $80.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Truist Financial upped their price target on Amphenol from $76.00 to $82.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. JPMorgan Chase & Co. lifted their price objective on Amphenol from $85.00 to $90.00 and gave the stock an “overweight” rating in a research note on Thursday. Citigroup raised their price target on shares of Amphenol from $81.00 to $82.00 and gave the stock a “buy” rating in a report on Friday, January 17th. Finally, Robert W. Baird increased their price objective on shares of Amphenol from $85.00 to $89.00 and gave the stock an “outperform” rating in a research report on Thursday. Five equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $73.79.

Amphenol Stock Performance

NYSE APH opened at $77.84 on Thursday. Amphenol has a fifty-two week low of $48.52 and a fifty-two week high of $78.25. The stock has a market cap of $93.84 billion, a PE ratio of 44.73, a PEG ratio of 1.98 and a beta of 1.24. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.33 and a current ratio of 1.99. The firm’s fifty day moving average price is $71.86 and its two-hundred day moving average price is $67.86.

Amphenol (NYSE:APH) last issued its earnings results on Wednesday, January 22nd. The electronics maker reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.05. The business had revenue of $4.32 billion during the quarter, compared to analysts’ expectations of $4,051,810 billion. Amphenol had a return on equity of 24.68% and a net margin of 15.40%. The business’s revenue for the quarter was up 29.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.82 EPS. On average, equities analysts expect that Amphenol will post 1.84 EPS for the current fiscal year.

Insider Activity

In other news, CEO Richard Adam Norwitt sold 900,672 shares of Amphenol stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $68.81, for a total transaction of $61,975,240.32. Following the completion of the transaction, the chief executive officer now directly owns 1,934,848 shares in the company, valued at $133,136,890.88. This trade represents a 31.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP David M. Silverman sold 180,000 shares of the company’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $68.84, for a total transaction of $12,391,200.00. Following the completion of the sale, the vice president now owns 14,000 shares in the company, valued at $963,760. This represents a 92.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,842,672 shares of company stock worth $128,858,080 over the last quarter. 1.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Amphenol

Several institutional investors have recently bought and sold shares of APH. Forsta AP Fonden lifted its stake in Amphenol by 0.9% during the 4th quarter. Forsta AP Fonden now owns 324,900 shares of the electronics maker’s stock valued at $22,564,000 after acquiring an additional 2,800 shares in the last quarter. Sumitomo Life Insurance Co. raised its holdings in shares of Amphenol by 50.1% in the fourth quarter. Sumitomo Life Insurance Co. now owns 46,847 shares of the electronics maker’s stock valued at $3,254,000 after purchasing an additional 15,642 shares during the last quarter. R Squared Ltd bought a new position in shares of Amphenol during the fourth quarter valued at about $290,000. Perigon Wealth Management LLC boosted its holdings in Amphenol by 12.9% during the fourth quarter. Perigon Wealth Management LLC now owns 13,474 shares of the electronics maker’s stock worth $941,000 after purchasing an additional 1,540 shares during the last quarter. Finally, Matrix Asset Advisors Inc. NY bought a new stake in Amphenol in the 4th quarter worth about $212,000. 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.