Amphenol (NYSE:APH) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday. The brokerage presently has a $94.00 price target on the electronics maker’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 10.43% from the stock’s previous close.
According to Zacks, “Amphenol is gaining from its end-market strength. As evident from third-quarter results, revenues are being driven by strong organic growth across mobile devices, military, IT and data communications, mobile networks, commercial air, industrial, and automotive. Moreover, continuing focus on geographic and market diversification has enabled Amphenol to extend its presence into new customers and new applications. In order to fuel further growth, the company aims to acquire on a global basis in the high-growth segments that have complementary capabilities from a product, customer and/or geographic standpoint. Shares have outperformed the industry on a year-to-date basis. However, tariffs related to the U.S.-China trade war and increasing cost of raw materials is likely to be a drag on its profitability.”
Other equities research analysts have also issued reports about the company. Goldman Sachs Group raised Amphenol from a “neutral” rating to a “buy” rating and set a $108.00 price target for the company in a research report on Tuesday, October 9th. Morgan Stanley increased their price target on Amphenol from $93.00 to $95.00 and gave the company an “equal weight” rating in a research report on Thursday, July 26th. Stifel Nicolaus increased their price target on Amphenol from $90.00 to $92.00 and gave the company a “hold” rating in a research report on Thursday, July 26th. Finally, ValuEngine lowered Amphenol from a “buy” rating to a “hold” rating in a research report on Thursday, October 11th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company. Amphenol has a consensus rating of “Buy” and an average price target of $98.00.
Amphenol (NYSE:APH) last released its quarterly earnings results on Wednesday, October 24th. The electronics maker reported $0.99 EPS for the quarter, beating analysts’ consensus estimates of $0.93 by $0.06. The business had revenue of $2.13 billion during the quarter, compared to analyst estimates of $2.02 billion. Amphenol had a return on equity of 28.57% and a net margin of 9.64%. Amphenol’s quarterly revenue was up 15.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.83 EPS. Equities analysts expect that Amphenol will post 3.69 EPS for the current year.
In other Amphenol news, CEO Richard Adam Norwitt sold 165,000 shares of the company’s stock in a transaction on Tuesday, July 31st. The stock was sold at an average price of $93.32, for a total value of $15,397,800.00. Following the completion of the transaction, the chief executive officer now owns 377,492 shares in the company, valued at approximately $35,227,553.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Richard Gu sold 2,000 shares of the company’s stock in a transaction on Friday, November 2nd. The shares were sold at an average price of $87.00, for a total value of $174,000.00. Following the completion of the transaction, the vice president now owns 3,000 shares of the company’s stock, valued at approximately $261,000. The disclosure for this sale can be found here. Insiders sold a total of 230,713 shares of company stock valued at $21,570,888 in the last 90 days. Corporate insiders own 2.51% of the company’s stock.
A number of large investors have recently made changes to their positions in the business. FMR LLC grew its stake in Amphenol by 1.7% in the 2nd quarter. FMR LLC now owns 38,544,742 shares of the electronics maker’s stock valued at $3,359,175,000 after purchasing an additional 660,569 shares during the period. BlackRock Inc. grew its stake in shares of Amphenol by 0.3% during the 2nd quarter. BlackRock Inc. now owns 22,019,372 shares of the electronics maker’s stock worth $1,918,990,000 after acquiring an additional 55,849 shares during the period. Alecta Pensionsforsakring Omsesidigt grew its stake in shares of Amphenol by 4.7% during the 2nd quarter. Alecta Pensionsforsakring Omsesidigt now owns 3,585,000 shares of the electronics maker’s stock worth $312,433,000 after acquiring an additional 160,000 shares during the period. Select Equity Group L.P. grew its stake in shares of Amphenol by 12.8% during the 2nd quarter. Select Equity Group L.P. now owns 2,948,900 shares of the electronics maker’s stock worth $256,997,000 after acquiring an additional 335,554 shares during the period. Finally, Voya Investment Management LLC grew its stake in shares of Amphenol by 1,165.1% during the 2nd quarter. Voya Investment Management LLC now owns 2,659,699 shares of the electronics maker’s stock worth $231,792,000 after acquiring an additional 2,449,464 shares during the period. Hedge funds and other institutional investors own 94.63% of the company’s stock.
Amphenol Corporation, together with its subsidiaries, engages in the design, manufacture, and marketing of electrical, electronic, and fiber optic connectors worldwide. It operates through two segments, Interconnect Products and Assemblies, and Cable Products and Solutions. The Interconnect Products and Assemblies segment offers connector and connector systems, including fiber optic, harsh environment, high-speed, and radio frequency interconnect products, as well as antennas; power interconnect products, bus bars, and distribution systems; and other connectors.
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