Truist Financial Boosts Amphenol (NYSE:APH) Price Target to $82.00

by · The Markets Daily

Amphenol (NYSE:APH – Get Free Report) had its price objective boosted by analysts at Truist Financial from $76.00 to $82.00 in a report issued on Thursday, Benzinga reports. The firm currently has a “buy” rating on the electronics maker’s stock. Truist Financial’s price objective suggests a potential upside of 18.65% from the company’s current price.

Several other equities research analysts also recently issued reports on the company. Evercore ISI raised their price target on Amphenol from $75.00 to $80.00 and gave the company an “outperform” rating in a report on Thursday. Robert W. Baird increased their price target on shares of Amphenol from $71.00 to $77.00 and gave the company an “outperform” rating in a report on Thursday. UBS Group boosted their price objective on Amphenol from $69.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Bank of America increased their target price on Amphenol from $70.00 to $74.00 and gave the stock a “neutral” rating in a research note on Thursday. Finally, Vertical Research assumed coverage on Amphenol in a research note on Tuesday, July 23rd. They issued a “hold” rating and a $65.00 price target for the company. Five 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 stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $69.17.

View Our Latest Report on Amphenol

Amphenol Stock Up 0.9 %

Shares of NYSE:APH traded up $0.64 during mid-day trading on Thursday, reaching $69.11. 3,037,242 shares of the stock were exchanged, compared to its average volume of 6,593,807. Amphenol has a one year low of $39.34 and a one year high of $71.20. The company has a quick ratio of 1.32, a current ratio of 2.02 and a debt-to-equity ratio of 0.56. The stock’s 50 day simple moving average is $64.96 and its 200-day simple moving average is $64.47. The company has a market cap of $83.02 billion, a P/E ratio of 42.40, a P/E/G ratio of 2.56 and a beta of 1.24.

Amphenol (NYSE:APH – Get Free Report) last posted its quarterly earnings results on Wednesday, October 23rd. The electronics maker reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.05. Amphenol had a net margin of 15.69% and a return on equity of 24.08%. The firm had revenue of $4.04 billion for the quarter, compared to analyst estimates of $3.81 billion. During the same period in the prior year, the firm posted $0.39 earnings per share. The company’s quarterly revenue was up 26.3% compared to the same quarter last year. As a group, equities research analysts predict that Amphenol will post 1.76 EPS for the current year.

Insider Buying and Selling

In related 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 Securities & Exchange Commission, which can be accessed through this link. In other Amphenol news, VP Lance E. D’amico sold 90,000 shares of the stock in a transaction dated 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 completion of the transaction, the vice president now directly owns 51,400 shares in the company, valued at approximately $3,323,010. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider William J. Doherty sold 300,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $65.83, for a total transaction of $19,749,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,516,000 shares of company stock worth $98,236,640. Corporate 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 made changes to their positions in APH. Bank of New York Mellon Corp raised its stake in Amphenol by 92.0% during the second quarter. Bank of New York Mellon Corp now owns 36,637,988 shares of the electronics maker’s stock worth $2,468,301,000 after buying an additional 17,552,921 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of Amphenol by 69.1% in 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 acquiring an additional 9,487,387 shares in the last quarter. Mawer Investment Management Ltd. lifted its stake 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 purchasing an additional 7,275,279 shares during the period. Legal & General Group Plc boosted its position in shares of Amphenol by 116.6% during the 2nd quarter. Legal & General Group Plc now owns 9,833,128 shares of the electronics maker’s stock valued at $662,458,000 after purchasing an additional 5,293,292 shares in the last quarter. Finally, National Bank of Canada FI grew its stake in Amphenol by 263.0% during the second quarter. National Bank of Canada FI now owns 3,568,426 shares of the electronics maker’s stock worth $240,935,000 after purchasing an additional 2,585,282 shares during the period. 97.01% of the stock is owned by institutional investors and hedge funds.

About Amphenol

(Get Free Report)

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.

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