Amphenol (APH) Lowered to “Hold” at Zacks Investment Research
Zacks Investment Research lowered shares of Amphenol (NYSE:APH) from a buy rating to a hold rating in a research report sent to investors on Tuesday.
According to Zacks, “Amphenol is gaining from its end-market strength. Revenues are being driven by strong organic growth across most of Amphenol’s end markets, in particular, mobile devices, military, industrial, automotive, and commercial air. Management is also optimistic about its acquisition programs. Moreover, continuing focus on geographic and market diversification has enabled Amphenol to extend its presence into new customers and new applications. In order to fuel further growth, Amphenol aims to acquire on a global basis in the high-growth segments that have complementary capabilities from a product, customer and/or geographic standpoint. Shares have outperformed the industry over the past one year. However, increasing cost of raw materials is a matter of concern and is likely to be a drag on its profitability.”
A number of other equities research analysts have also issued reports on APH. Stifel Nicolaus lifted their target price on Amphenol from $90.00 to $92.00 and gave the company a hold rating in a research report on Thursday, July 26th. Morgan Stanley boosted their price target on Amphenol from $93.00 to $95.00 and gave the stock an equal weight rating in a research report on Thursday, July 26th. Finally, Goldman Sachs Group raised Amphenol from a neutral rating to a buy rating and set a $108.00 price target on the stock in a research report on Tuesday. Six equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus target price of $98.50.
Amphenol (NYSE:APH) last announced its earnings results on Wednesday, July 25th. The electronics maker reported $0.90 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.85 by $0.05. Amphenol had a return on equity of 27.49% and a net margin of 9.49%. The business had revenue of $1.98 billion for the quarter, compared to analyst estimates of $1.89 billion. During the same quarter last year, the firm earned $0.74 EPS. Amphenol’s revenue for the quarter was up 18.9% compared to the same quarter last year. Research analysts forecast that Amphenol will post 3.62 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, October 10th. Shareholders of record on Monday, September 17th were given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 1.08%. The ex-dividend date of this dividend was Friday, September 14th. Amphenol’s dividend payout ratio (DPR) is 29.49%.
In other Amphenol news, VP Richard Gu sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, November 2nd. The stock was sold at an average price of $87.00, for a total transaction of $174,000.00. Following the transaction, the vice president now owns 3,000 shares of the company’s stock, valued at approximately $261,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP David M. Silverman sold 7,500 shares of the business’s stock in a transaction that occurred on Thursday, September 6th. The stock was sold at an average price of $95.51, for a total value of $716,325.00. Following the transaction, the vice president now directly owns 7,500 shares in the company, valued at approximately $716,325. The disclosure for this sale can be found here. Insiders have sold a total of 647,713 shares of company stock worth $61,196,943 in the last ninety days. Insiders own 2.34% of the company’s stock.
Hedge funds have recently bought and sold shares of the stock. Rampart Investment Management Company LLC increased its holdings in shares of Amphenol by 8.2% during the 2nd quarter. Rampart Investment Management Company LLC now owns 54,890 shares of the electronics maker’s stock worth $4,784,000 after acquiring an additional 4,139 shares during the last quarter. Meadow Creek Investment Management LLC increased its holdings in shares of Amphenol by 4.3% during the 2nd quarter. Meadow Creek Investment Management LLC now owns 13,072 shares of the electronics maker’s stock worth $1,139,000 after acquiring an additional 544 shares during the last quarter. Wesbanco Bank Inc. increased its holdings in shares of Amphenol by 5.0% during the 2nd quarter. Wesbanco Bank Inc. now owns 36,968 shares of the electronics maker’s stock worth $3,222,000 after acquiring an additional 1,769 shares during the last quarter. Capital Fund Management S.A. increased its holdings in shares of Amphenol by 38.7% during the 2nd quarter. Capital Fund Management S.A. now owns 25,312 shares of the electronics maker’s stock worth $2,206,000 after acquiring an additional 7,069 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Amphenol by 7.7% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 57,244 shares of the electronics maker’s stock worth $4,989,000 after acquiring an additional 4,088 shares during the last quarter. 94.72% of the stock is currently owned by institutional investors and hedge funds.
Amphenol Corporation, together with its subsidiaries, engages in the design, manufacture, and marketing of electrical, electronic, and fiber optic connectors worldwide. It operates through two segments, Interconnect Products and Assemblies, and Cable Products and Solutions. The Interconnect Products and Assemblies segment offers connector and connector systems, including fiber optic, harsh environment, high-speed, and radio frequency interconnect products, as well as antennas; power interconnect products, bus bars, and distribution systems; and other connectors.
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