Amphenol (NYSE:APH) Shares Gap Down to $66.26

Amphenol Co. (NYSE:APH)’s share price gapped down before the market opened on Wednesday . The stock had previously closed at $66.26, but opened at $62.58. Amphenol shares last traded at $63.67, with a volume of 1,547,764 shares.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on APH. TD Cowen raised their target price on shares of Amphenol from $45.00 to $57.50 and gave the company a “hold” rating in a research note on Thursday, June 6th. UBS Group lifted their price objective on shares of Amphenol from $69.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. JPMorgan Chase & Co. raised their target price on shares of Amphenol from $62.50 to $65.00 and gave the company an “overweight” rating in a research note on Thursday, April 25th. Seaport Res Ptn upgraded Amphenol to a “strong-buy” rating in a report on Monday, May 20th. Finally, Truist Financial upped their price objective on Amphenol from $68.00 to $74.50 and gave the company a “buy” rating in a research note on Friday, May 24th. Five equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Amphenol presently has a consensus rating of “Moderate Buy” and a consensus target price of $64.62.

Amphenol Trading Down 6.4 %

The company has a current ratio of 2.06, a quick ratio of 1.43 and a debt-to-equity ratio of 0.41. The firm has a 50-day moving average of $67.47 and a two-hundred day moving average of $59.36. The firm has a market capitalization of $74.46 billion, a P/E ratio of 37.91, a P/E/G ratio of 3.10 and a beta of 1.25.

Amphenol (NYSE:APH) last posted its earnings results on Wednesday, July 24th. The electronics maker reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.03. The firm had revenue of $3.61 billion during the quarter, compared to analysts’ expectations of $3.39 billion. Amphenol had a net margin of 15.87% and a return on equity of 23.85%. The business’s revenue for the quarter was up 18.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.72 earnings per share. On average, analysts anticipate that Amphenol Co. will post 1.68 EPS for the current year.

Amphenol Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 9th. Shareholders of record on Tuesday, September 17th will be paid a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a dividend yield of 1.06%. Amphenol’s payout ratio is presently 26.91%.

Amphenol announced that its board has authorized a stock buyback plan on Wednesday, April 24th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the electronics maker to reacquire up to 2.9% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling

In other Amphenol news, insider Luc Walter sold 230,000 shares of the stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $67.57, for a total value of $15,541,100.00. Following the completion of the transaction, the insider now directly owns 397,280 shares in the company, valued at $26,844,209.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Amphenol

A number of hedge funds have recently modified their holdings of the business. B. Riley Wealth Advisors Inc. raised its position in Amphenol by 0.3% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 31,286 shares of the electronics maker’s stock worth $3,609,000 after purchasing an additional 80 shares during the last quarter. Atomi Financial Group Inc. raised its position in shares of Amphenol by 1.7% during the first quarter. Atomi Financial Group Inc. now owns 4,720 shares of the electronics maker’s stock worth $544,000 after acquiring an additional 81 shares during the last quarter. Lindbrook Capital LLC lifted its stake in shares of Amphenol by 2.0% in the first quarter. Lindbrook Capital LLC now owns 4,245 shares of the electronics maker’s stock worth $490,000 after acquiring an additional 85 shares during the period. Pinnacle Wealth Planning Services Inc. lifted its stake in shares of Amphenol by 1.5% in the first quarter. Pinnacle Wealth Planning Services Inc. now owns 6,076 shares of the electronics maker’s stock worth $701,000 after acquiring an additional 88 shares during the period. Finally, Nicolet Advisory Services LLC increased its position in Amphenol by 3.4% during the 1st quarter. Nicolet Advisory Services LLC now owns 2,724 shares of the electronics maker’s stock valued at $313,000 after purchasing an additional 89 shares during the period. Institutional investors and hedge funds 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.