Amphenol (NYSE:APH) Shares Gap Up Following Strong Earnings

Shares of Amphenol Co. (NYSE:APH) gapped up prior to trading on Wednesday after the company announced better than expected quarterly earnings. The stock had previously closed at $65.75, but opened at $76.02. Amphenol shares last traded at $73.25, with a volume of 3,457,917 shares.

The electronics maker reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.11. The company had revenue of $4.81 billion for the quarter, compared to the consensus estimate of $4.20 billion. Amphenol had a net margin of 15.92% and a return on equity of 25.67%. During the same quarter in the prior year, the firm earned $0.40 earnings per share.

Amphenol Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 9th. Shareholders of record on Tuesday, March 18th were given a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a yield of 0.93%. The ex-dividend date was Tuesday, March 18th. Amphenol’s payout ratio is 34.55%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. JPMorgan Chase & Co. dropped their target price on shares of Amphenol from $90.00 to $85.00 and set an “overweight” rating for the company in a report on Thursday, April 17th. Robert W. Baird upped their target price on shares of Amphenol from $85.00 to $89.00 and gave the stock an “outperform” rating in a research report on Thursday, January 23rd. UBS Group reduced their price target on shares of Amphenol from $90.00 to $78.00 and set a “buy” rating on the stock in a report on Thursday, April 10th. Bank of America lifted their target price on Amphenol from $75.00 to $85.00 and gave the stock a “neutral” rating in a report on Thursday, January 23rd. Finally, Citigroup reduced their price objective on Amphenol from $89.00 to $75.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. Four research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $79.40.

Institutional Trading of Amphenol

Several institutional investors and hedge funds have recently modified their holdings of APH. Vanguard Group Inc. raised its holdings in shares of Amphenol by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 152,127,847 shares of the electronics maker’s stock valued at $10,565,279,000 after purchasing an additional 2,108,578 shares in the last quarter. FMR LLC grew its stake in Amphenol by 2.6% in the fourth quarter. FMR LLC now owns 104,250,575 shares of the electronics maker’s stock valued at $7,240,202,000 after purchasing an additional 2,643,752 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Amphenol by 36.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 58,911,813 shares of the electronics maker’s stock worth $4,091,426,000 after purchasing an additional 15,837,407 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Amphenol by 2.7% during the fourth quarter. Geode Capital Management LLC now owns 25,325,653 shares of the electronics maker’s stock valued at $1,754,672,000 after buying an additional 659,560 shares during the last quarter. Finally, Bank of America Corp DE raised its stake in shares of Amphenol by 294.0% during the 4th quarter. Bank of America Corp DE now owns 24,953,591 shares of the electronics maker’s stock worth $1,733,027,000 after acquiring an additional 18,619,417 shares in the last quarter. Institutional investors own 97.01% of the company’s stock.

Amphenol Trading Up 8.2 %

The company’s 50 day simple moving average is $65.24 and its two-hundred day simple moving average is $68.78. The company has a quick ratio of 1.75, a current ratio of 2.37 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $86.19 billion, a price-to-earnings ratio of 37.14, a P/E/G ratio of 1.92 and a beta of 1.17.

Amphenol Company Profile

Amphenol Corporation, together with its subsidiaries, primarily designs, manufactures, and markets electrical, electronic, and fiber optic connectors in the United States, China, and internationally. It operates through three segments: Harsh Environment Solutions, Communications Solutions, and Interconnect and Sensor Systems.