Prescott Group Capital Management L.L.C. Purchases 11,050 Shares of Amphenol Corporation $APH

Prescott Group Capital Management L.L.C. grew its position in Amphenol Corporation (NYSE:APH) by 100.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 22,100 shares of the electronics maker’s stock after acquiring an additional 11,050 shares during the quarter. Prescott Group Capital Management L.L.C.’s holdings in Amphenol were worth $1,863,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of APH. Corient Private Wealth LP lifted its holdings in shares of Amphenol by 3,010.0% in the 2nd quarter. Corient Private Wealth LP now owns 16,437,431 shares of the electronics maker’s stock valued at $2,898,248,000 after acquiring an additional 15,908,901 shares during the last quarter. State Street Corp lifted its stake in shares of Amphenol by 24.2% during the 2nd quarter. State Street Corp now owns 71,281,059 shares of the electronics maker’s stock worth $12,107,146,000 after acquiring an additional 13,884,641 shares during the last quarter. Jupiter Topco LLC purchased a new position in Amphenol during the 2nd quarter valued at $1,600,531,000. Sumitomo Mitsui Trust Group Inc. boosted its holdings in Amphenol by 90.9% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 7,900,956 shares of the electronics maker’s stock valued at $666,051,000 after acquiring an additional 3,761,224 shares during the period. Finally, Bank Julius Baer & Co. Ltd Zurich grew its holdings in shares of Amphenol by 101.6% in the third quarter. Bank Julius Baer & Co. Ltd Zurich now owns 3,720,515 shares of the electronics maker’s stock worth $313,497,000 after purchasing an additional 1,874,988 shares during the last quarter. 97.01% of the stock is owned by hedge funds and other institutional investors.

Amphenol Stock Performance

Shares of Amphenol stock opened at $71.73 on Friday. The company has a 50 day moving average price of $81.42 and a 200 day moving average price of $75.54. The firm has a market capitalization of $177.13 billion, a P/E ratio of 31.19, a PEG ratio of 0.94 and a beta of 1.27. The company has a quick ratio of 1.42, a current ratio of 1.94 and a debt-to-equity ratio of 0.99. Amphenol Corporation has a 52 week low of $59.01 and a 52 week high of $89.93.

Amphenol (NYSE:APH) last issued its quarterly earnings results on Wednesday, October 28th. The electronics maker reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.73 by $0.07. The business had revenue of $10.23 billion for the quarter, compared to analyst estimates of $9.49 billion. Amphenol had a net margin of 17.95% and a return on equity of 42.53%. Amphenol’s revenue for the quarter was up 65.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.93 EPS. Sell-side analysts expect that Amphenol Corporation will post 2.84 EPS for the current year.

Amphenol declared that its board has initiated a share repurchase program on Wednesday, October 28th that allows the company to repurchase $4 billion in shares. This buyback authorization allows the electronics maker to purchase up to 2% of its stock through open market purchases. Share buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

Amphenol Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 13th. Investors of record on Tuesday, December 22nd will be paid a $0.15 dividend. This is a negative change from Amphenol’s previous quarterly dividend of $0.25. The ex-dividend date is Tuesday, December 22nd. This represents a $0.60 dividend on an annualized basis and a yield of 0.8%. Amphenol’s dividend payout ratio (DPR) is 21.74%.

Insider Buying and Selling

In other Amphenol news, CEO Richard Norwitt sold 799,576 shares of the business’s stock in a transaction dated Monday, November 2nd. The stock was sold at an average price of $82.48, for a total transaction of $65,949,028.48. Following the sale, the chief executive officer owned 3,855,014 shares in the company, valued at approximately $317,961,554.72. The trade was a 17.18% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.42% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on APH shares. Bank of America lifted their target price on Amphenol from $99.00 to $104.00 and gave the company a “buy” rating in a research report on Tuesday, October 13th. Rothschild & Co Redburn reduced their price objective on shares of Amphenol from $197.00 to $107.00 in a research note on Friday, October 30th. Truist Financial raised their target price on shares of Amphenol from $107.50 to $112.00 and gave the company a “buy” rating in a research note on Thursday, October 29th. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $102.00 price target on shares of Amphenol in a report on Monday. Finally, BNP Paribas Exane increased their price objective on Amphenol from $110.00 to $115.00 and gave the company an “outperform” rating in a report on Thursday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $108.32.

Amphenol Company Profile

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.