Amphenol Corporation (APH) Cut to Hold at Zacks Investment Research
Zacks Investment Research lowered shares of Amphenol Corporation (NYSE:APH) from a buy rating to a hold rating in a report released on Wednesday.
According to Zacks, “Amphenol’s top-line growth is benefiting from improved end-market demands 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, increasing cost of raw materials is a matter of concern and is likely to be a drag on its profitability. Bulk of the company’s revenues comes from sales to the communications industry, demand for which is subject to rapid technological change. In addition, unfavorable foreign currency movements often impact sales, affecting its long-term growth to some extent.”
Several other equities analysts have also weighed in on APH. BidaskClub upgraded shares of Amphenol Corporation from a buy rating to a strong-buy rating in a report on Saturday, August 12th. Royal Bank Of Canada reiterated a top pick rating and issued a $85.00 target price (up from $81.00) on shares of Amphenol Corporation in a report on Tuesday. Stifel Nicolaus reiterated a hold rating and issued a $72.00 target price on shares of Amphenol Corporation in a report on Monday, August 14th. Finally, Goldman Sachs Group, Inc. (The) lowered shares of Amphenol Corporation from a buy rating to a neutral rating and boosted their target price for the company from $75.00 to $78.00 in a report on Wednesday, July 5th. Four equities research analysts have rated the stock with a hold rating, three have given a buy rating and two have given a strong buy rating to the company. The company currently has an average rating of Buy and an average price target of $79.63.
Shares of Amphenol Corporation (NYSE:APH) opened at 80.87 on Wednesday. The company has a 50-day moving average of $77.80 and a 200-day moving average of $73.69. The stock has a market capitalization of $24.70 billion, a price-to-earnings ratio of 27.23 and a beta of 0.77. Amphenol Corporation has a 52-week low of $60.97 and a 52-week high of $81.17.
Amphenol Corporation (NYSE:APH) last posted its earnings results on Wednesday, July 26th. The electronics maker reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.09. The company had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.62 billion. Amphenol Corporation had a net margin of 14.37% and a return on equity of 24.98%. Amphenol Corporation’s revenue was up 7.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.65 EPS. Equities research analysts anticipate 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 is an increase from Amphenol Corporation’s previous quarterly dividend of $0.16. This represents a $0.76 annualized dividend and a yield of 0.94%. The ex-dividend date is Friday, September 15th. Amphenol Corporation’s dividend payout ratio is presently 21.55%.
In other Amphenol Corporation news, CEO Richard Adam Norwitt sold 200,000 shares of the stock in a transaction that occurred on Thursday, August 3rd. The shares were sold at an average price of $77.95, for a total value of $15,590,000.00. Following the sale, the chief executive officer now directly owns 293,992 shares of the company’s stock, valued at approximately $22,916,676.40. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Craig A. Lampo sold 15,000 shares of the stock in a transaction that occurred on Tuesday, August 22nd. The shares were sold at an average price of $79.70, for a total transaction of $1,195,500.00. Following the completion of the sale, the chief financial officer now directly owns 40,000 shares in the company, valued at $3,188,000. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 433,200 shares of company stock worth $33,886,886. 2.51% of the stock is owned by insiders.
Large investors have recently made changes to their positions in the stock. BlackRock Inc. boosted its position in shares of Amphenol Corporation by 2,540.0% in the first quarter. BlackRock Inc. now owns 19,061,201 shares of the electronics maker’s stock valued at $1,356,586,000 after buying an additional 18,339,185 shares during the last quarter. Janus Henderson Group PLC boosted its position in shares of Amphenol Corporation by 1,662.5% in the second quarter. Janus Henderson Group PLC now owns 10,597,526 shares of the electronics maker’s stock valued at $782,311,000 after buying an additional 9,996,239 shares during the last quarter. UBS Asset Management Americas Inc. boosted its position in shares of Amphenol Corporation by 53.5% in the second quarter. UBS Asset Management Americas Inc. now owns 2,663,455 shares of the electronics maker’s stock valued at $196,616,000 after buying an additional 928,733 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Amphenol Corporation by 3.2% in the first quarter. Vanguard Group Inc. now owns 29,794,362 shares of the electronics maker’s stock valued at $2,120,464,000 after buying an additional 914,857 shares during the last quarter. Finally, Janus Capital Management LLC boosted its position in shares of Amphenol Corporation by 10.8% in the first quarter. Janus Capital Management LLC now owns 9,234,030 shares of the electronics maker’s stock valued at $657,176,000 after buying an additional 900,961 shares during the last quarter. 96.86% of the stock is currently owned by institutional investors.
About Amphenol Corporation
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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