Amphenol (NYSE:APH) Stock Price Crosses Above 200 Day Moving Average of $60.82

Amphenol Co. (NYSE:APH)’s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $60.82 and traded as high as $66.24. Amphenol shares last traded at $66.07, with a volume of 6,094,882 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on APH shares. Vertical Research initiated coverage on shares of Amphenol in a report on Tuesday, July 23rd. They set a “hold” rating and a $65.00 price objective for the company. Truist Financial raised their price objective on Amphenol from $74.50 to $76.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Citigroup boosted their target price on Amphenol from $67.50 to $80.00 and gave the company a “buy” rating in a research note on Tuesday, May 28th. Bank of America raised their price target on Amphenol from $72.00 to $75.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Finally, Evercore ISI reissued an “outperform” rating on shares of Amphenol in a research note on Thursday, June 13th. Five equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $65.35.

Amphenol Price Performance

The business has a 50 day simple moving average of $66.02 and a two-hundred day simple moving average of $60.93. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.32 and a current ratio of 2.02. The firm has a market capitalization of $79.04 billion, a P/E ratio of 40.37, a price-to-earnings-growth ratio of 2.81 and a beta of 1.25.

Amphenol (NYSE:APH) last issued its earnings results on Wednesday, July 24th. The electronics maker reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.03. The firm had revenue of $3.61 billion for the quarter, compared to analysts’ expectations of $3.39 billion. Amphenol had a net margin of 15.69% and a return on equity of 24.08%. The business’s revenue was up 18.2% on a year-over-year basis. During the same quarter last year, the business earned $0.72 earnings per share. On average, sell-side analysts expect that Amphenol Co. will post 1.74 EPS for the current fiscal year.

Amphenol Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 9th. Stockholders of record on Tuesday, September 17th will be given a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a dividend yield of 1.00%. The ex-dividend date is Tuesday, September 17th. Amphenol’s dividend payout ratio is presently 40.49%.

Amphenol declared that its Board of Directors has authorized a share buyback plan on Wednesday, April 24th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the electronics maker to buy up to 2.9% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.

Insider Activity

In related news, insider Luc Walter sold 230,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $67.57, for a total transaction of $15,541,100.00. Following the completion of the sale, the insider now owns 397,280 shares of the company’s stock, valued at $26,844,209.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Amphenol news, VP Lance E. D’amico sold 90,000 shares of Amphenol stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $64.65, for a total value of $5,818,500.00. Following the sale, the vice president now owns 51,400 shares of the company’s stock, valued at approximately $3,323,010. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Luc Walter sold 230,000 shares of the company’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $67.57, for a total transaction of $15,541,100.00. Following the sale, the insider now owns 397,280 shares in the company, valued at $26,844,209.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,746,000 shares of company stock worth $113,777,740. Insiders own 1.80% of the company’s stock.

Institutional Trading of Amphenol

Several institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in 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 in the last quarter. Bank of New York Mellon Corp boosted its position in Amphenol by 92.0% in the second quarter. Bank of New York Mellon Corp now owns 36,637,988 shares of the electronics maker’s stock valued at $2,468,301,000 after buying an additional 17,552,921 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in 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 buying an additional 1,979,022 shares during the period. Massachusetts Financial Services Co. MA grew its position in 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 worth $1,564,711,000 after purchasing an additional 9,487,387 shares during the period. Finally, Mawer Investment Management Ltd. lifted its holdings in shares of Amphenol by 88.9% in 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 buying an additional 7,275,279 shares during the period. Institutional investors own 97.01% of the company’s stock.

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.