Amphenol (NYSE:APH) Shares Gap Up After Better-Than-Expected Earnings

Amphenol Co. (NYSE:APH)’s stock price gapped up before the market opened on Wednesday following a stronger than expected earnings report. The stock had previously closed at $114.26, but opened at $119.19. Amphenol shares last traded at $117.73, with a volume of 1,518,417 shares changing hands.

The electronics maker reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.07. The firm had revenue of $3.26 billion during the quarter, compared to analysts’ expectations of $3.10 billion. Amphenol had a net margin of 15.36% and a return on equity of 23.94%. The business’s revenue for the quarter was up 9.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.69 earnings per share.

Amphenol Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 10th. Stockholders of record on Tuesday, March 19th were issued a $0.22 dividend. The ex-dividend date of this dividend was Monday, March 18th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.74%. Amphenol’s dividend payout ratio (DPR) is currently 28.30%.

Amphenol declared that its board has approved a share repurchase program on Wednesday, April 24th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the electronics maker to reacquire up to 2.9% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

A number of research firms have recently commented on APH. Jefferies Financial Group began coverage on shares of Amphenol in a report on Tuesday, April 9th. They issued a “hold” rating and a $125.00 target price for the company. Truist Financial raised their price objective on shares of Amphenol from $121.00 to $136.00 and gave the company a “buy” rating in a report on Thursday. Robert W. Baird raised their price objective on shares of Amphenol from $123.00 to $124.00 and gave the company an “outperform” rating in a report on Thursday. UBS Group raised their price objective on shares of Amphenol from $135.00 to $138.00 and gave the company a “buy” rating in a report on Thursday. Finally, JPMorgan Chase & Co. raised their price objective on shares of Amphenol from $125.00 to $130.00 and gave the company an “overweight” rating in a report on Thursday. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, Amphenol presently has an average rating of “Moderate Buy” and an average price target of $118.83.

Insiders Place Their Bets

In other Amphenol news, insider Peter Straub sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $110.64, for a total transaction of $2,212,800.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider William J. Doherty sold 170,000 shares of the firm’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $103.50, for a total transaction of $17,595,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Peter Straub sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $110.64, for a total transaction of $2,212,800.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 305,000 shares of company stock worth $31,846,050. 1.80% of the stock is currently owned by insiders.

Institutional Trading of Amphenol

Several large investors have recently modified their holdings of the stock. Mesirow Financial Investment Management Inc. acquired a new stake in shares of Amphenol during the 1st quarter worth approximately $2,185,000. Petredis Investment Advisors LLC grew its position in Amphenol by 2.1% in the 1st quarter. Petredis Investment Advisors LLC now owns 44,714 shares of the electronics maker’s stock valued at $5,158,000 after purchasing an additional 938 shares during the period. Lindbrook Capital LLC grew its position in Amphenol by 2.0% in the 1st quarter. Lindbrook Capital LLC now owns 4,245 shares of the electronics maker’s stock valued at $490,000 after purchasing an additional 85 shares during the period. Bridges Investment Management Inc. grew its position in Amphenol by 31.5% in the 1st quarter. Bridges Investment Management Inc. now owns 11,960 shares of the electronics maker’s stock valued at $1,380,000 after purchasing an additional 2,868 shares during the period. Finally, Fielder Capital Group LLC acquired a new stake in Amphenol in the 1st quarter valued at $212,000. Institutional investors and hedge funds own 97.01% of the company’s stock.

Amphenol Trading Up 2.3 %

The firm’s 50-day moving average is $111.74 and its 200-day moving average is $99.44. The firm has a market cap of $71.59 billion, a price-to-earnings ratio of 38.26, a P/E/G ratio of 3.06 and a beta of 1.30. The company has a current ratio of 2.17, a quick ratio of 1.48 and a debt-to-equity ratio of 0.47.

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.