SVB Wealth LLC Purchases 24,926 Shares of Amphenol Corporation $APH

SVB Wealth LLC boosted its position in shares of Amphenol Corporation (NYSE:APH) by 99.9% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 49,875 shares of the electronics maker’s stock after purchasing an additional 24,926 shares during the quarter. SVB Wealth LLC’s holdings in Amphenol were worth $4,204,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Corient Private Wealth LP grew its position in shares of Amphenol by 3,010.0% during the 2nd quarter. Corient Private Wealth LP now owns 16,437,431 shares of the electronics maker’s stock worth $2,898,248,000 after buying an additional 15,908,901 shares during the period. State Street Corp lifted its holdings in Amphenol by 24.2% in the second quarter. State Street Corp now owns 71,281,059 shares of the electronics maker’s stock valued at $12,107,146,000 after buying an additional 13,884,641 shares during the period. Jupiter Topco LLC acquired a new position in Amphenol in the second quarter valued at approximately $1,600,531,000. Sumitomo Mitsui Trust Group Inc. lifted its holdings in Amphenol by 90.9% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 7,900,956 shares of the electronics maker’s stock valued at $666,051,000 after buying an additional 3,761,224 shares during the period. Finally, Russell Investments Group Ltd. grew its holdings in Amphenol by 116.4% during the 3rd quarter. Russell Investments Group Ltd. now owns 4,465,041 shares of the electronics maker’s stock worth $376,413,000 after acquiring an additional 2,401,550 shares during the period. 97.01% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, CEO Richard Norwitt sold 799,576 shares of the company’s stock in a transaction on 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 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.42% of the stock is owned by insiders.

Amphenol Trading Up 0.6%

Shares of NYSE:APH opened at $79.81 on Friday. Amphenol Corporation has a 12-month low of $59.01 and a 12-month high of $89.93. The business has a 50 day moving average of $81.30 and a 200-day moving average of $75.60. The company has a quick ratio of 1.42, a current ratio of 1.94 and a debt-to-equity ratio of 0.99. The stock has a market cap of $197.07 billion, a PE ratio of 34.70, a P/E/G ratio of 0.94 and a beta of 1.27.

Amphenol (NYSE:APH) last posted its earnings results on Wednesday, October 28th. The electronics maker reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.07. Amphenol had a return on equity of 42.53% and a net margin of 17.95%. The company had revenue of $10.23 billion during the quarter, compared to the consensus estimate of $9.49 billion. During the same quarter last year, the firm earned $0.93 earnings per share. The company’s revenue was up 65.1% on a year-over-year basis. As a group, equities research analysts forecast that Amphenol Corporation will post 2.83 earnings per share for the current year.

Amphenol announced that its board has authorized a stock buyback program on Wednesday, October 28th that permits the company to buy back $4 billion in shares. This buyback authorization permits the electronics maker to reacquire up to 2% of its shares through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.

Amphenol Cuts Dividend

The firm 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. The ex-dividend date is Tuesday, December 22nd. This is a drop from Amphenol’s previous quarterly dividend of $0.25. This represents a $0.60 annualized dividend and a yield of 0.8%. Amphenol’s dividend payout ratio is currently 21.74%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Weiss Ratings raised Amphenol from a “buy (b)” rating to a “buy (b+)” rating in a research note on Monday. Wolfe Research started coverage on shares of Amphenol in a report on Wednesday, September 30th. They issued an “outperform” rating and a $105.00 price target for the company. TD Cowen reduced their target price on shares of Amphenol from $175.00 to $90.00 and set a “hold” rating for the company in a research note on Wednesday, September 9th. Zacks Research raised shares of Amphenol from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 30th. Finally, Robert W. Baird decreased their price objective on Amphenol from $190.00 to $105.00 and set an “outperform” rating for the company in a report on Tuesday, October 6th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, Amphenol has an average rating of “Buy” and an average target price of $107.00.

Amphenol Profile

Amphenol Corporation designs, manufactures and markets electrical, electronic and fiber-optic connectors, interconnect systems, antennas and sensor products. Its offerings also include cable assemblies and related components used to transmit signals and power in electronic equipment and systems. The company serves customers in a range of markets, including communications and information technology, automotive, aerospace and defense, industrial, mobile devices and data networks. Its products are used in applications such as vehicles, communications infrastructure, commercial aircraft and industrial equipment.