Amphenol (NYSE:APH) to Buyback $2.00 billion in Shares

Amphenol (NYSE:APH) announced that its board has approved a share buyback program on Wednesday, April 24th, RTT News reports. The company plans to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the electronics maker to reacquire up to 2.9% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its shares are undervalued.

Analyst Upgrades and Downgrades

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

Amphenol Stock Performance

Shares of APH stock opened at $119.00 on Friday. Amphenol has a 1-year low of $72.00 and a 1-year high of $119.59. The company has a current ratio of 2.17, a quick ratio of 1.48 and a debt-to-equity ratio of 0.47. The company has a market capitalization 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 stock’s fifty day simple moving average is $111.74 and its 200-day simple moving average is $99.44.

Amphenol (NYSE:APH) last issued its quarterly earnings results on Wednesday, April 24th. The electronics maker reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.07. Amphenol had a return on equity of 23.94% and a net margin of 15.36%. The business had revenue of $3.26 billion for the quarter, compared to the consensus estimate of $3.10 billion. During the same quarter in the previous year, the company posted $0.69 earnings per share. Amphenol’s revenue for the quarter was up 9.5% compared to the same quarter last year. On average, sell-side analysts predict that Amphenol will post 3.28 earnings per share for the current fiscal year.

Amphenol Dividend Announcement

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

Insider Buying and Selling at Amphenol

In other Amphenol news, insider William J. Doherty sold 170,000 shares of the business’s stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $103.50, for a total value of $17,595,000.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, insider William J. Doherty sold 170,000 shares of the company’s stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $103.50, for a total transaction of $17,595,000.00. The transaction 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 company’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $110.64, for a total value of $2,212,800.00. The disclosure for this sale can be found here. Insiders have sold 305,000 shares of company stock worth $31,846,050 over the last 90 days. 1.80% of the stock is currently owned by corporate insiders.

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.