Amphenol (NYSE:APH) Shares Gap Up on Earnings Beat

Amphenol Co. (NYSE:APH) gapped up prior to trading on Wednesday after the company announced better than expected quarterly earnings. The stock had previously closed at $114.26, but opened at $119.19. Amphenol shares last traded at $117.73, with a volume of 1,518,417 shares changing hands.

The electronics maker reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.07. Amphenol had a net margin of 15.36% and a return on equity of 23.94%. The company had revenue of $3.26 billion during the quarter, compared to analyst estimates of $3.10 billion. During the same period in the previous year, the business earned $0.69 earnings per share. The firm’s quarterly revenue was up 9.5% compared to the same quarter last year.

Amphenol Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 10th. Shareholders of record on Tuesday, March 19th were given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 0.74%. The ex-dividend date of this dividend was Monday, March 18th. Amphenol’s payout ratio is currently 28.30%.

Amphenol announced that its Board of Directors has initiated a share buyback plan on Wednesday, April 24th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the electronics maker to reacquire 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.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on APH shares. UBS Group boosted their price target on shares of Amphenol from $135.00 to $138.00 and gave the stock a “buy” rating in a research note on Thursday. The Goldman Sachs Group increased their target price on Amphenol from $107.00 to $119.00 and gave the company a “buy” rating in a report on Thursday, January 25th. Truist Financial lifted their price target on Amphenol from $121.00 to $136.00 and gave the stock a “buy” rating in a research note on Thursday. Stifel Nicolaus raised their target price on shares of Amphenol from $88.00 to $95.00 and gave the stock a “hold” rating in a report on Thursday, January 25th. Finally, Robert W. Baird upped their price target on shares of Amphenol from $123.00 to $124.00 and gave the company an “outperform” rating in a report on Thursday. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, Amphenol has a consensus rating of “Moderate Buy” and an average price target of $118.83.

Insider Buying and Selling at Amphenol

In other news, insider William J. Doherty sold 170,000 shares of the stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $103.50, for a total value of $17,595,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Amphenol news, insider William J. Doherty sold 170,000 shares of the stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $103.50, for a total value of $17,595,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Craig A. Lampo sold 100,000 shares of the company’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $104.67, for a total transaction of $10,467,000.00. Following the completion of the sale, the chief financial officer now directly owns 147,045 shares in the company, valued at $15,391,200.15. The disclosure for this sale can be found here. In the last three months, insiders have sold 305,000 shares of company stock valued at $31,846,050. 1.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Amphenol

Several large investors have recently made changes to their positions in the business. Peoples Bank KS purchased a new position in Amphenol during the third quarter valued at $27,000. Frazier Financial Advisors LLC purchased a new position in shares of Amphenol in the 4th quarter worth about $29,000. Mendota Financial Group LLC bought a new position in Amphenol in the 4th quarter worth about $33,000. Venturi Wealth Management LLC increased its stake in Amphenol by 75.5% during the 4th quarter. Venturi Wealth Management LLC now owns 330 shares of the electronics maker’s stock valued at $33,000 after purchasing an additional 142 shares in the last quarter. Finally, Avior Wealth Management LLC raised its holdings in Amphenol by 70.8% in the fourth 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 currently owned by hedge funds and other institutional investors.

Amphenol Trading Up 2.3 %

The stock has a market cap of $71.59 billion, a PE ratio of 38.26, a PEG ratio of 3.06 and a beta of 1.30. The company has a quick ratio of 1.48, a current ratio of 2.17 and a debt-to-equity ratio of 0.47. The stock’s fifty day moving average price is $111.74 and its 200 day moving average price is $99.44.

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.