Amphenol (NYSE:APH) Hits New 1-Year High Following Better-Than-Expected Earnings

Amphenol Co. (NYSE:APH)’s stock price hit a new 52-week high during trading on Wednesday following a better than expected earnings announcement. The stock traded as high as $71.20 and last traded at $69.52, with a volume of 3152020 shares. The stock had previously closed at $66.85.

The electronics maker reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.05. Amphenol had a return on equity of 24.08% and a net margin of 15.69%. The business had revenue of $4.04 billion during the quarter, compared to analyst estimates of $3.81 billion. During the same quarter in the previous year, the business earned $0.39 earnings per share. The company’s revenue for the quarter was up 26.3% compared to the same quarter last year.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Vertical Research assumed coverage on Amphenol in a research report on Tuesday, July 23rd. They set a “hold” rating and a $65.00 target price for the company. Bank of America boosted their target price on Amphenol from $70.00 to $74.00 and gave the company a “neutral” rating in a research report on Thursday. Evercore ISI boosted their target price on Amphenol from $75.00 to $80.00 and gave the company an “outperform” rating in a research report on Thursday. UBS Group boosted their price target on Amphenol from $69.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Finally, Robert W. Baird boosted their price target on Amphenol from $71.00 to $77.00 and gave the company an “outperform” rating in a report on Thursday. Five investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $69.17.

Insiders Place Their Bets

In other Amphenol news, insider William J. Doherty sold 300,000 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $65.83, for a total transaction of $19,749,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, insider William J. Doherty sold 300,000 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $65.83, for a total transaction of $19,749,000.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Lance E. D’amico sold 100,000 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $65.63, for a total value of $6,563,000.00. Following the transaction, the vice president now directly owns 51,400 shares in the company, valued at approximately $3,373,382. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 570,000 shares of company stock worth $37,209,000 over the last 90 days. Company insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Amphenol

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in APH. Beacon Capital Management LLC raised its stake in shares of Amphenol by 121.2% in the second quarter. Beacon Capital Management LLC now owns 376 shares of the electronics maker’s stock worth $25,000 after purchasing an additional 206 shares during the last quarter. New England Capital Financial Advisors LLC raised its position in Amphenol by 100.0% during the 2nd quarter. New England Capital Financial Advisors LLC now owns 376 shares of the electronics maker’s stock worth $25,000 after buying an additional 188 shares during the last quarter. Sachetta LLC lifted its stake in Amphenol by 131.1% during the 2nd quarter. Sachetta LLC now owns 439 shares of the electronics maker’s stock valued at $27,000 after acquiring an additional 249 shares during the period. Trifecta Capital Advisors LLC boosted its holdings in shares of Amphenol by 352.1% in the 3rd quarter. Trifecta Capital Advisors LLC now owns 434 shares of the electronics maker’s stock valued at $28,000 after acquiring an additional 338 shares during the last quarter. Finally, Opal Wealth Advisors LLC purchased a new position in shares of Amphenol during the second quarter worth $29,000. Hedge funds and other institutional investors own 97.01% of the company’s stock.

Amphenol Stock Up 2.0 %

The business’s 50-day moving average is $64.96 and its 200-day moving average is $64.47. The company has a market capitalization of $83.86 billion, a price-to-earnings ratio of 42.83, a P/E/G ratio of 2.56 and a beta of 1.24. The company has a quick ratio of 1.32, a current ratio of 2.02 and a debt-to-equity ratio of 0.56.

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.