Key Points
- CEO Richard Norwitt sold 799,576 shares for about $65.9 million, reducing his direct stake by 17.18%; he retained roughly 3.86 million shares.
- Amphenol beat quarterly earnings and revenue estimates, with revenue up 65.1% year over year, supported by strong demand and acquisitions.
- The company authorized a $4 billion share repurchase plan but reduced its quarterly dividend from $0.25 to $0.15 per share.
Amphenol Corporation (NYSE:APH - Get Free Report) CEO Richard Norwitt sold 799,576 shares of the stock in a transaction on Monday, November 2nd. The stock was sold at an average price of $82.48, for a total value of $65,949,028.48. Following the completion of the sale, the chief executive officer directly owned 3,855,014 shares in the company, valued at $317,961,554.72. This represents a 17.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
Amphenol Stock Performance
APH stock opened at $84.11 on Wednesday. Amphenol Corporation has a 1 year low of $59.01 and a 1 year high of $89.93. The stock has a market capitalization of $207.69 billion, a price-to-earnings ratio of 36.57, a PEG ratio of 0.95 and a beta of 1.27. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.42 and a current ratio of 1.94. The stock's fifty day moving average is $81.60 and its two-hundred day moving average is $75.56.
Amphenol (NYSE:APH - Get Free Report) last released its quarterly earnings results on Wednesday, October 28th. The electronics maker reported $0.80 EPS for the quarter, topping the consensus estimate of $0.73 by $0.07. Amphenol had a net margin of 17.95% and a return on equity of 42.53%. The business had revenue of $10.23 billion during the quarter, compared to analyst estimates of $9.49 billion. During the same quarter in the prior year, the firm earned $0.93 earnings per share. The company's quarterly revenue was up 65.1% on a year-over-year basis. On average, research analysts predict that Amphenol Corporation will post 2.84 EPS for the current year.
Amphenol declared that its board has initiated a share repurchase plan on Wednesday, October 28th that permits the company to repurchase $4 billion in shares. This buyback authorization permits the electronics maker to repurchase up to 2% of its stock through open market purchases. Share buyback plans are typically an indication that the company's board of directors believes its stock is undervalued.
Amphenol Cuts Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 13th. Shareholders of record on Tuesday, December 22nd will be paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Tuesday, December 22nd. This is a negative change from Amphenol's previous quarterly dividend of $0.25. Amphenol's dividend payout ratio (DPR) is presently 21.74%.
Hedge Funds Weigh In On Amphenol
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Purus Wealth Management LLC raised its holdings in Amphenol by 3.7% during the second quarter. Purus Wealth Management LLC now owns 1,801 shares of the electronics maker's stock worth $318,000 after purchasing an additional 65 shares in the last quarter. Cornerstone Financial Management LLC boosted its stake in Amphenol by 27.2% during the 2nd quarter. Cornerstone Financial Management LLC now owns 304 shares of the electronics maker's stock valued at $54,000 after purchasing an additional 65 shares in the last quarter. Sachetta LLC boosted its stake in Amphenol by 14.9% during the 1st quarter. Sachetta LLC now owns 548 shares of the electronics maker's stock valued at $69,000 after purchasing an additional 71 shares in the last quarter. Ferguson Wellman Capital Management Inc. increased its position in shares of Amphenol by 3.8% during the 1st quarter. Ferguson Wellman Capital Management Inc. now owns 1,980 shares of the electronics maker's stock valued at $250,000 after purchasing an additional 72 shares during the period. Finally, Guardian Wealth Advisors LLC NC increased its position in shares of Amphenol by 0.5% during the 2nd quarter. Guardian Wealth Advisors LLC NC now owns 14,211 shares of the electronics maker's stock valued at $2,506,000 after purchasing an additional 72 shares during the period. Institutional investors own 97.01% of the company's stock.
More Amphenol News
Here are the key news stories impacting Amphenol this week:
- Positive Sentiment: Amphenol’s Q3 results and outlook were supported by AI infrastructure demand and acquisitions. The company reported revenue growth of 65.1% year over year and earnings above analysts’ expectations. Article: APH Q3 deep dive
- Positive Sentiment: The company announced a $4 billion buyback plan, which could support shareholder returns and signal confidence in its business outlook. Article: Tech stocks boosting buyback capacity
- Positive Sentiment: Barclays raised its price target to $111 from $100 and reiterated an “overweight” rating, reflecting a more bullish view of Amphenol’s prospects. Article: Barclays price-target increase
- Neutral Sentiment: A report discusses whether a new partnership could strengthen Amphenol’s position in AI infrastructure, but the provided article details do not specify the partnership’s terms or likely financial impact. Article: Amphenol and AI infrastructure partnership
- Negative Sentiment: CEO Richard Norwitt sold 799,576 shares for about $65.9 million, reducing his direct ownership by 17.18%. He still directly owned approximately 3.86 million shares after the transaction. SEC filing: CEO stock sale
- Negative Sentiment: Rothschild & Co Redburn cut its price target on Amphenol, a less favorable analyst signal. The supplied report does not state the revised target. Article: Rothschild & Co Redburn price-target cut
- Negative Sentiment: Amphenol was among AI-related stocks declining amid a broader AI sell-off, despite strong orders, revenue growth and raised guidance across the group. Sector sentiment could weigh on the stock even as data-center demand remains a fundamental support. Article: AI stocks and data-center spending
Wall Street Analyst Weigh In
Several brokerages have commented on APH. BNP Paribas Exane raised their price target on shares of Amphenol from $110.00 to $115.00 and gave the company an "outperform" rating in a research note on Thursday, October 29th. Bank of America boosted their price objective on Amphenol from $99.00 to $104.00 and gave the stock a "buy" rating in a research report on Tuesday, October 13th. Zacks Research raised Amphenol from a "hold" rating to a "strong-buy" rating in a report on Friday, October 30th. Evercore set a $100.00 target price on Amphenol in a research report on Wednesday, October 28th. Finally, Sanford C. Bernstein reaffirmed an "outperform" rating and set a $102.00 target price on shares of Amphenol in a research note on Monday. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $108.32.
View Our Latest Stock Report on Amphenol
Amphenol Company Profile
(
Get Free Report)
Amphenol Corporation (NYSE: APH) is a global manufacturer of electrical, electronic and fiber-optic connectors, interconnect systems and related products. Its portfolio includes cable assemblies, sensors, antennas, backplane systems, radio-frequency components and other specialized electronic hardware.
The company serves customers across a range of industries, including automotive, aerospace and defense, information technology and data communications, industrial, mobile networks, commercial aerospace, medical and other markets.
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