Amphenol (NYSE:APH) PT Lowered to $70.00 at Robert W. Baird

Amphenol (NYSE:APH) had its target price decreased by Robert W. Baird from $72.00 to $70.00 in a research note issued to investors on Thursday morning, Benzinga reports. Robert W. Baird currently has an outperform rating on the electronics maker’s stock.

A number of other analysts also recently commented on APH. Vertical Research initiated coverage on Amphenol in a research report on Tuesday, July 23rd. They issued a hold rating and a $65.00 price objective for the company. UBS Group raised their target price on Amphenol from $69.00 to $80.00 and gave the stock a buy rating in a research report on Wednesday, July 10th. TD Cowen boosted their price target on shares of Amphenol from $45.00 to $57.50 and gave the company a hold rating in a report on Thursday, June 6th. Jefferies Financial Group assumed coverage on shares of Amphenol in a report on Tuesday, April 9th. They set a hold rating and a $62.50 price objective for the company. Finally, Truist Financial upped their target price on shares of 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 assigned a strong buy rating to the company. According to MarketBeat.com, Amphenol has a consensus rating of Moderate Buy and an average target price of $65.35.

Amphenol Stock Up 3.4 %

APH opened at $63.86 on Thursday. The business has a 50 day moving average of $67.26 and a 200-day moving average of $59.58. The stock has a market capitalization of $76.71 billion, a price-to-earnings ratio of 39.06, a P/E/G ratio of 2.84 and a beta of 1.25. The company has a current ratio of 2.02, a quick ratio of 1.43 and a debt-to-equity ratio of 0.56. Amphenol has a 1-year low of $39.34 and a 1-year high of $70.84.

Amphenol (NYSE:APH) last issued its quarterly earnings results on Wednesday, July 24th. The electronics maker reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.03. The firm had revenue of $3.61 billion during the quarter, compared to the consensus estimate 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 period in the prior year, the firm earned $0.72 EPS. As a group, sell-side analysts anticipate that Amphenol will post 1.71 earnings per share for the current year.

Amphenol announced that its Board of Directors has approved a stock repurchase program on Wednesday, April 24th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the electronics maker to buy up to 2.9% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.

Amphenol Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 9th. Shareholders of record on Tuesday, September 17th will be given a $0.165 dividend. The ex-dividend date is Tuesday, September 17th. This represents a $0.66 annualized dividend and a yield of 1.03%. Amphenol’s payout ratio is 26.91%.

Insider Activity

In other Amphenol news, insider Luc Walter sold 230,000 shares of the business’s stock in a transaction dated Wednesday, May 22nd. The shares were 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 of the company’s stock, valued at $26,844,209.60. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Amphenol

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Nixon Peabody Trust Co. bought a new position in shares of Amphenol in the 2nd quarter valued at about $208,000. HB Wealth Management LLC lifted its holdings in Amphenol by 120.3% in the second quarter. HB Wealth Management LLC now owns 21,115 shares of the electronics maker’s stock valued at $1,423,000 after buying an additional 11,530 shares during the period. Strategic Blueprint LLC boosted its stake in Amphenol by 66.4% in the second quarter. Strategic Blueprint LLC now owns 8,623 shares of the electronics maker’s stock valued at $581,000 after acquiring an additional 3,441 shares during the last quarter. Whitaker Myers Wealth Managers LTD. grew its holdings in Amphenol by 100.0% during the 2nd quarter. Whitaker Myers Wealth Managers LTD. now owns 4,044 shares of the electronics maker’s stock worth $272,000 after acquiring an additional 2,022 shares during the period. Finally, Conning Inc. raised its position in shares of Amphenol by 103.4% during the 2nd quarter. Conning Inc. now owns 9,263 shares of the electronics maker’s stock valued at $624,000 after acquiring an additional 4,709 shares during the last quarter. 97.01% of the stock is owned by institutional investors and hedge funds.

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.