Amphenol (NYSE:APH) Price Target Raised to $120.00

Amphenol (NYSE:APH) had its target price boosted by equities research analysts at JPMorgan Chase & Co. from $91.00 to $120.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the electronics maker’s stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 16.09% from the company’s current price.

A number of other research firms have also recently commented on APH. Robert W. Baird lifted their price objective on shares of Amphenol from $73.00 to $85.00 and gave the stock an “outperform” rating in a research report on Thursday, April 24th. Wall Street Zen raised shares of Amphenol from a “hold” rating to a “buy” rating in a research report on Sunday, June 22nd. TD Securities lifted their price objective on shares of Amphenol from $63.00 to $70.00 and gave the stock a “hold” rating in a research report on Thursday, May 1st. UBS Group reissued a “buy” rating and issued a $115.00 target price (up previously from $106.00) on shares of Amphenol in a research report on Monday, July 14th. Finally, Industrial Alliance Securities set a $115.00 target price on shares of Amphenol in a research report on Friday, July 11th. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $94.07.

Amphenol Price Performance

Shares of APH opened at $103.37 on Thursday. The company has a market cap of $125.04 billion, a price-to-earnings ratio of 50.18, a PEG ratio of 2.32 and a beta of 1.13. Amphenol has a 1-year low of $54.77 and a 1-year high of $103.70. The company’s fifty day simple moving average is $93.26 and its 200 day simple moving average is $77.28. The company has a current ratio of 1.99, a quick ratio of 1.36 and a debt-to-equity ratio of 0.66.

Amphenol (NYSE:APH) last issued its earnings results on Wednesday, April 23rd. The electronics maker reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.11. The business had revenue of $4.81 billion for the quarter, compared to the consensus estimate of $4.20 billion. Amphenol had a net margin of 15.58% and a return on equity of 27.68%. The firm’s revenue for the quarter was up 47.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.40 earnings per share. On average, research analysts forecast that Amphenol will post 2.36 earnings per share for the current fiscal year.

Insider Buying and Selling at Amphenol

In other Amphenol news, insider William J. Doherty sold 160,000 shares of the stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $89.54, for a total transaction of $14,326,400.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Michael R. Ivas sold 40,000 shares of the stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $88.79, for a total value of $3,551,600.00. Following the transaction, the vice president owned 152,412 shares in the company, valued at $13,532,661.48. The trade was a 20.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 3,764,500 shares of company stock worth $294,839,785. Company insiders own 1.67% of the company’s stock.

Hedge Funds Weigh In On Amphenol

A number of large investors have recently modified their holdings of the company. Norges Bank bought a new position in Amphenol during the 4th quarter valued at $1,378,794,000. Bank of America Corp DE lifted its stake in Amphenol by 294.0% during the 4th quarter. Bank of America Corp DE now owns 24,953,591 shares of the electronics maker’s stock valued at $1,733,027,000 after acquiring an additional 18,619,417 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Amphenol by 36.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 58,911,813 shares of the electronics maker’s stock valued at $4,091,426,000 after acquiring an additional 15,837,407 shares in the last quarter. T. Rowe Price Investment Management Inc. increased its position in shares of Amphenol by 196.3% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 16,743,239 shares of the electronics maker’s stock valued at $1,098,190,000 after purchasing an additional 11,092,282 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Amphenol by 639.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 8,758,951 shares of the electronics maker’s stock valued at $574,500,000 after purchasing an additional 7,573,750 shares during the last quarter. 97.01% of the stock is currently owned by institutional investors.

About Amphenol

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.