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

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

A number of other analysts have also recently issued reports on APH. Truist Financial raised their target price on shares of Amphenol from $74.50 to $76.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Robert W. Baird cut their target price on shares of Amphenol from $72.00 to $70.00 and set an “outperform” rating for the company in a research note on Thursday, July 25th. UBS Group raised their target price on shares of Amphenol from $69.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Finally, Vertical Research initiated coverage on shares of Amphenol in a research note on Tuesday, July 23rd. They set a “hold” rating and a $65.00 target price for the company. Five investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Amphenol presently has an average rating of “Moderate Buy” and an average target price of $67.42.

Amphenol Stock Performance

Shares of APH stock opened at $68.47 on Thursday. The stock has a market cap of $82.25 billion, a P/E ratio of 42.01, a P/E/G ratio of 2.56 and a beta of 1.24. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.02 and a quick ratio of 1.32. The company has a fifty day moving average price of $64.96 and a two-hundred day moving average price of $64.47. Amphenol has a one year low of $39.34 and a one year high of $71.20.

Amphenol (NYSE:APH) last announced its quarterly earnings results on Wednesday, October 23rd. The electronics maker reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.05. The firm had revenue of $4.04 billion during 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 revenue for the quarter was up 26.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.39 earnings per share. As a group, equities analysts predict that Amphenol will post 1.76 EPS for the current year.

Insiders Place Their Bets

In other Amphenol news, VP Lance E. D’amico sold 90,000 shares of the firm’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $64.65, for a total value of $5,818,500.00. Following the transaction, the vice president now directly owns 51,400 shares of the company’s stock, valued at $3,323,010. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Amphenol news, CEO Richard Adam Norwitt sold 750,000 shares of the firm’s stock in a transaction dated 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 trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Lance E. D’amico sold 90,000 shares of Amphenol stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $64.65, for a total transaction of $5,818,500.00. Following the sale, the vice president now directly owns 51,400 shares in the company, valued at $3,323,010. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,516,000 shares of company stock worth $98,236,640 in the last quarter. 1.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Amphenol

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in shares of Amphenol by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 73,459,971 shares of the electronics maker’s stock valued at $8,473,608,000 after purchasing an additional 321,861 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Amphenol by 92.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 36,637,988 shares of the electronics maker’s stock worth $2,468,301,000 after buying an additional 17,552,921 shares during the period. Price T Rowe Associates Inc. MD lifted its position in shares of Amphenol by 6.8% in the 1st 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 purchasing an additional 1,979,022 shares during the period. Massachusetts Financial Services Co. MA lifted its position in shares of Amphenol by 69.1% during the 2nd 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 acquiring an additional 9,487,387 shares during the period. Finally, Mawer Investment Management Ltd. lifted its position in shares of Amphenol by 88.9% during the 2nd quarter. Mawer Investment Management Ltd. now owns 15,455,006 shares of the electronics maker’s stock valued at $1,041,204,000 after acquiring an additional 7,275,279 shares during the period. 97.01% of the stock is 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.