Stock Buyback Program Initiated by Amphenol (NYSE:APH) Board

Amphenol (NYSE:APH) announced that its board has initiated a share repurchase program on Wednesday, April 24th, RTT News reports. The company plans to buyback $2.00 billion in shares. This buyback authorization allows the electronics maker to repurchase up to 2.9% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board believes its shares are undervalued.

Amphenol Price Performance

APH stock traded up $2.05 during midday trading on Wednesday, reaching $116.31. The company had a trading volume of 7,624,930 shares, compared to its average volume of 2,853,614. The company has a market capitalization of $69.97 billion, a price-to-earnings ratio of 37.40, a price-to-earnings-growth ratio of 3.00 and a beta of 1.30. The stock has a 50 day moving average price of $111.48 and a 200-day moving average price of $99.30. Amphenol has a 1-year low of $72.00 and a 1-year high of $119.59. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.17 and a quick ratio of 1.48.

Amphenol (NYSE:APH) last posted its quarterly earnings results on Wednesday, January 24th. The electronics maker reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.05. Amphenol had a return on equity of 23.94% and a net margin of 15.36%. The business had revenue of $3.33 billion during the quarter, compared to the consensus estimate of $3.16 billion. During the same quarter in the previous year, the firm earned $0.78 earnings per share. Amphenol’s revenue for the quarter was up 2.7% compared to the same quarter last year. Equities research analysts expect that Amphenol will post 3.28 earnings per share for the current year.

Amphenol Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 10th. Shareholders of record on Tuesday, March 19th were given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 0.76%. The ex-dividend date was Monday, March 18th. Amphenol’s dividend payout ratio is presently 28.30%.

Analyst Ratings Changes

APH has been the subject of several research reports. Evercore ISI raised their price target on shares of Amphenol from $110.00 to $125.00 and gave the stock an “outperform” rating in a research note on Monday, March 25th. Bank of America raised their price target on shares of Amphenol from $117.00 to $121.00 and gave the stock a “buy” rating in a research note on Thursday, April 18th. JPMorgan Chase & Co. raised their price target on shares of Amphenol from $118.00 to $125.00 and gave the stock an “overweight” rating in a research note on Thursday, April 11th. The Goldman Sachs Group raised their target price on shares of Amphenol from $107.00 to $119.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. Finally, Stifel Nicolaus raised their target price on shares of Amphenol from $88.00 to $95.00 and gave the company a “hold” rating in a research note on Thursday, January 25th. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $113.75.

Insider Buying and Selling at Amphenol

In other news, insider Peter Straub sold 20,000 shares of the business’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $110.64, for a total transaction of $2,212,800.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CFO Craig A. Lampo sold 100,000 shares of the business’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $104.67, for a total transaction of $10,467,000.00. Following the sale, the chief financial officer now directly owns 147,045 shares in the company, valued at $15,391,200.15. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Peter Straub sold 20,000 shares of the business’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $110.64, for a total value of $2,212,800.00. The disclosure for this sale can be found here. Insiders have sold a total of 305,000 shares of company stock worth $31,846,050 over the last 90 days. Insiders own 1.80% of the company’s stock.

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.