Rakuten Investment Management Inc. Takes $10.88 Million Position in Amphenol Corporation $APH

Rakuten Investment Management Inc. acquired a new position in shares of Amphenol Corporation (NYSE:APH) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 87,926 shares of the electronics maker’s stock, valued at approximately $10,881,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its holdings in shares of Amphenol by 8.4% during the second quarter. Geode Capital Management LLC now owns 28,513,760 shares of the electronics maker’s stock worth $2,804,338,000 after buying an additional 2,217,079 shares in the last quarter. Norges Bank acquired a new stake in shares of Amphenol during the 2nd quarter valued at $2,104,244,000. Franklin Resources Inc. grew its position in Amphenol by 13.4% during the 2nd quarter. Franklin Resources Inc. now owns 12,547,006 shares of the electronics maker’s stock worth $1,239,017,000 after acquiring an additional 1,486,105 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Amphenol by 1.9% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 7,088,586 shares of the electronics maker’s stock worth $699,998,000 after purchasing an additional 133,966 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its position in Amphenol by 3.7% in the second quarter. Envestnet Asset Management Inc. now owns 5,883,759 shares of the electronics maker’s stock valued at $581,021,000 after purchasing an additional 210,551 shares during the last quarter. Institutional investors and hedge funds own 97.01% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on APH shares. Bank of America upgraded Amphenol from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $120.00 to $150.00 in a report on Wednesday, October 15th. Evercore ISI reiterated an “outperform” rating and set a $165.00 target price on shares of Amphenol in a research report on Tuesday. Truist Financial set a $182.00 price target on shares of Amphenol in a research report on Tuesday, January 13th. Barclays raised shares of Amphenol from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $143.00 to $156.00 in a research note on Monday, January 12th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Amphenol in a research note on Wednesday, October 8th. Eleven equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, Amphenol has a consensus rating of “Moderate Buy” and an average target price of $147.62.

Amphenol Stock Up 1.5%

Shares of NYSE APH opened at $154.65 on Thursday. The company’s 50 day moving average price is $138.75 and its 200-day moving average price is $124.88. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.52 and a current ratio of 2.07. Amphenol Corporation has a 52-week low of $56.45 and a 52-week high of $156.28. The company has a market capitalization of $189.30 billion, a P/E ratio of 51.55, a price-to-earnings-growth ratio of 0.96 and a beta of 1.21.

Amphenol (NYSE:APH) last posted its quarterly earnings data on Wednesday, October 22nd. The electronics maker reported $0.93 earnings per share for the quarter, topping the consensus estimate of $0.79 by $0.14. The company had revenue of $6.19 billion during the quarter, compared to analysts’ expectations of $5.54 billion. Amphenol had a net margin of 18.22% and a return on equity of 33.46%. Amphenol’s revenue for the quarter was up 53.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.50 earnings per share. Equities analysts forecast that Amphenol Corporation will post 2.36 earnings per share for the current year.

Insider Activity

In related news, VP David M. Silverman sold 120,000 shares of the firm’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $141.17, for a total transaction of $16,940,400.00. Following the completion of the sale, the vice president owned 12,500 shares of the company’s stock, valued at $1,764,625. This trade represents a 90.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Craig A. Lampo sold 40,076 shares of Amphenol stock in a transaction that occurred on Tuesday, November 11th. The stock was sold at an average price of $143.50, for a total value of $5,750,906.00. Following the completion of the sale, the chief financial officer owned 39,884 shares of the company’s stock, valued at approximately $5,723,354. The trade was a 50.12% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 1,063,194 shares of company stock worth $148,244,445. 1.67% of the stock is owned by insiders.

Amphenol Profile

Amphenol Corporation (NYSE: APH) is a leading global manufacturer of electronic and fiber optic connectors, interconnect systems, and related components. The company designs, engineers and produces a broad range of products including electrical connectors, cable assemblies, fiber optic solutions, sensors, antennas and electromechanical devices used to transfer power, signal and data across complex systems. Its product portfolio spans ruggedized connectors for harsh environments to high-speed solutions for data centers and telecommunications networks.

Amphenol serves a diverse set of end markets, including automotive, broadband and telecom, data communications, mobile devices, industrial, energy, and military/aerospace.