Zacks Investment Research cut shares of Amphenol Corporation (NYSE:APH) from a buy rating to a hold rating in a research note issued to investors on Wednesday.
According to Zacks, “Amphenol’s top-line growth is benefiting from improved end-market demand in automotive, mobile networks and military markets. The company remains encouraged by its expanding presence in the fast-growing commercial aerospace market and is well positioned to capitalize on the proliferation of electronics content on next-generation planes. A balanced organic and inorganic growth model, a lean and flexible cost structure, and an agile and entrepreneurial management team augur well for its long-term growth perspectives. Amphenol outperformed the industry year to date. However, bulk of the revenues comes from sales to the communications industry, demand for which is subject to rapid technological change. The company is susceptible to volatility in foreign exchanges, which undermines its growth potential to some extent. Increasing cost of raw materials is also a matter of concern and is likely to be an additional drag on profitability.”
Other analysts have also recently issued reports about the company. BidaskClub raised Amphenol Corporation from a buy rating to a strong-buy rating in a research note on Saturday, August 12th. Stifel Nicolaus reaffirmed a hold rating and issued a $72.00 price target on shares of Amphenol Corporation in a research note on Friday, July 14th. Goldman Sachs Group, Inc. (The) cut Amphenol Corporation from a buy rating to a neutral rating and upped their price target for the company from $75.00 to $78.00 in a research note on Wednesday, July 5th. Finally, Royal Bank Of Canada reaffirmed a buy rating on shares of Amphenol Corporation in a research note on Thursday, June 1st. Three equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the stock. The company currently has an average rating of Buy and a consensus target price of $80.00.
Amphenol Corporation (APH) opened at 82.58 on Wednesday. Amphenol Corporation has a 52-week low of $62.64 and a 52-week high of $82.60. The stock has a market capitalization of $25.22 billion, a P/E ratio of 27.80 and a beta of 0.76. The stock has a 50 day moving average of $79.43 and a 200 day moving average of $74.45.
Amphenol Corporation (NYSE:APH) last announced its quarterly earnings results on Wednesday, July 26th. The electronics maker reported $0.81 EPS for the quarter, beating analysts’ consensus estimates of $0.72 by $0.09. The company had revenue of $1.67 billion during the quarter, compared to analysts’ expectations of $1.62 billion. Amphenol Corporation had a return on equity of 24.98% and a net margin of 14.37%. Amphenol Corporation’s revenue was up 7.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.65 EPS. On average, equities research analysts forecast that Amphenol Corporation will post $3.09 EPS for the current year.
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The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 11th. Investors of record on Monday, September 18th will be paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 0.92%. This is a boost from Amphenol Corporation’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend is Friday, September 15th. Amphenol Corporation’s dividend payout ratio is presently 21.55%.
In related news, VP David M. Silverman sold 16,000 shares of the stock in a transaction that occurred on Tuesday, August 29th. The stock was sold at an average price of $80.04, for a total transaction of $1,280,640.00. Following the completion of the sale, the vice president now directly owns 16,000 shares of the company’s stock, valued at approximately $1,280,640. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Craig A. Lampo sold 15,000 shares of the stock in a transaction that occurred on Thursday, August 31st. The stock was sold at an average price of $80.98, for a total value of $1,214,700.00. Following the sale, the chief financial officer now directly owns 40,000 shares of the company’s stock, valued at $3,239,200. The disclosure for this sale can be found here. Over the last three months, insiders have sold 433,200 shares of company stock valued at $33,886,886. 2.51% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Birch Hill Investment Advisors LLC bought a new stake in Amphenol Corporation during the 1st quarter worth approximately $105,000. Dupont Capital Management Corp bought a new stake in Amphenol Corporation during the 2nd quarter worth approximately $109,000. People s United Financial Inc. increased its stake in Amphenol Corporation by 6.8% during the 2nd quarter. People s United Financial Inc. now owns 1,495 shares of the electronics maker’s stock worth $110,000 after purchasing an additional 95 shares in the last quarter. YorkBridge Wealth Partners LLC increased its stake in Amphenol Corporation by 300.0% during the 1st quarter. YorkBridge Wealth Partners LLC now owns 1,600 shares of the electronics maker’s stock worth $114,000 after purchasing an additional 1,200 shares in the last quarter. Finally, Israel Discount Bank of New York bought a new stake in Amphenol Corporation during the 1st quarter worth approximately $121,000. 96.87% of the stock is owned by institutional investors and hedge funds.
Amphenol Corporation Company Profile
Amphenol Corporation (Amphenol) is a designer, manufacturer and marketer of electrical, electronic and fiber optic connectors, interconnect systems, antennas, sensors and sensor- based products, and coaxial and specialty cable. The Company operates through two segments, which include Interconnect Products and Assemblies, and Cable Products and Solutions.
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