Jennison Associates LLC Acquires Shares of 2,326,847 Amphenol Corporation $APH

Jennison Associates LLC bought a new position in Amphenol Corporation (NYSE:APH) in the third quarter, HoldingsChannel.com reports. The fund bought 2,326,847 shares of the electronics maker’s stock, valued at approximately $287,947,000.

A number of other hedge funds and other institutional investors have also modified their holdings of APH. Financial Management Professionals Inc. lifted its holdings in Amphenol by 82.6% during the 3rd quarter. Financial Management Professionals Inc. now owns 199 shares of the electronics maker’s stock worth $25,000 after buying an additional 90 shares in the last quarter. Riggs Asset Managment Co. Inc. lifted its stake in shares of Amphenol by 200.0% during the second quarter. Riggs Asset Managment Co. Inc. now owns 252 shares of the electronics maker’s stock valued at $25,000 after acquiring an additional 168 shares during the period. Howard Hughes Medical Institute bought a new position in Amphenol in the second quarter valued at about $26,000. Alpine Bank Wealth Management acquired a new stake in Amphenol in the third quarter worth about $30,000. Finally, Evolution Wealth Management Inc. bought a new stake in Amphenol during the 2nd quarter worth about $31,000. Institutional investors and hedge funds own 97.01% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on APH shares. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $183.00 target price on shares of Amphenol in a research note on Thursday, January 15th. US Capital Advisors set a $165.00 target price on shares of Amphenol in a report on Friday, January 9th. JPMorgan Chase & Co. increased their price target on Amphenol from $145.00 to $160.00 and gave the company an “overweight” rating in a research note on Thursday, October 23rd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Amphenol in a research note on Wednesday. Finally, Wall Street Zen downgraded Amphenol from a “strong-buy” rating to a “buy” rating in a report on Sunday, November 2nd. Eleven analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Amphenol presently has a consensus rating of “Moderate Buy” and an average price target of $147.62.

Insider Activity at Amphenol

In other Amphenol news, VP Lance E. D’amico sold 120,000 shares of Amphenol stock in a transaction dated Wednesday, October 29th. The stock was sold at an average price of $140.01, for a total value of $16,801,200.00. Following the sale, the vice president owned 76,400 shares of the company’s stock, valued at $10,696,764. This trade represents a 61.10% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider William J. Doherty sold 80,000 shares of the company’s stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $142.00, for a total value of $11,360,000.00. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 698,076 shares of company stock valued at $99,081,306. 1.67% of the stock is owned by insiders.

Amphenol Price Performance

Shares of APH opened at $150.97 on Friday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.52 and a current ratio of 2.07. The firm has a market capitalization of $184.79 billion, a PE ratio of 50.32, a P/E/G ratio of 0.96 and a beta of 1.21. The stock has a 50 day simple moving average of $139.45 and a 200 day simple moving average of $125.44. Amphenol Corporation has a 52-week low of $56.45 and a 52-week high of $157.54.

Amphenol (NYSE:APH) last announced its quarterly earnings results on Wednesday, October 22nd. The electronics maker reported $0.93 earnings per share for the quarter, beating analysts’ consensus estimates of $0.79 by $0.14. Amphenol had a net margin of 18.22% and a return on equity of 33.46%. The firm had revenue of $6.19 billion for the quarter, compared to analyst estimates of $5.54 billion. During the same quarter in the previous year, the firm posted $0.50 earnings per share. The business’s revenue was up 53.4% on a year-over-year basis. Sell-side analysts predict that Amphenol Corporation will post 2.36 EPS for the current fiscal year.

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.