Azimuth Capital Investment Management Reduces Holdings in Amphenol Co. as Company Surpasses Earnings Expectations and Receives Mixed Analyst Ratings

According to a Form 13F filing with the Securities & Exchange Commission, Azimuth Capital Investment Management LLC has reduced its holdings in Amphenol Co. (NYSE:APH) by 46.1% during the first quarter of this year. The investment management firm now holds 112,880 shares of the electronics maker’s stock after selling 96,595 shares during the period. At the end of the quarter, Azimuth Capital Investment Management LLC’s holdings in Amphenol were valued at $9,225,000.

In its most recent quarterly earnings report released on July 26th, Amphenol announced earnings per share (EPS) of $0.72 for the quarter. This surpassed the consensus estimate of $0.68 by $0.04. The company also reported a return on equity of 25.85% and a net margin of 15.15%. Despite a decrease in revenue from the previous year, with $3.05 billion generated compared to analyst estimates of $2.95 billion, Amphenol managed to beat expectations.

Research firms have weighed in on APH recently. Credit Suisse Group downgraded Amphenol from an “outperform” rating to a “neutral” rating and lowered their price target for the stock from $91 to $77 in May 2023. In contrast, Robert W. Baird raised their price target on Amphenol from $89 to $100 later in July 2023. Bank of America also increased their price target from $90 to $100 around the same time period.

Stifel Nicolaus further raised their price target on Amphenol from $80 to $88 in July as well.

According to Bloomberg data, three research analysts currently rate Amphenol’s stock as a hold while three others consider it a buy option, giving it an average consensus rating of “Moderate Buy” with an average price target of $94.25.

As 2023 unfolds, and with Amphenol’s solid financial performance in the first quarter, expectations remain positive for the company to post earnings per share of 2.92 by the end of the year. It will be interesting to see how Amphenol continues to navigate market fluctuations and sustain growth in the face of changing industry dynamics.

Monro, Inc.


Strong Buy

Updated on: 12/09/2023

Price Target

Current $29.77

Concensus $0.00

Low $0.00

Median $0.00

High $0.00

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Recent Activity in Amphenol Stock by Hedge Funds and Institutional Investors Sparks Mixed Reviews and Insider Trading Activity

Amphenol Co., a leading electronics maker, has seen recent activity in its stock from various hedge funds and institutional investors. Moors & Cabot Inc. acquired a new position in Amphenol during the first quarter, valued at approximately $227,000. Caprock Group LLC also increased its stake in the company by 5.8% during the same period and now owns 9,861 shares worth $808,000. Similarly, Claro Advisors LLC purchased a new position in Amphenol in the fourth quarter for about $450,000.

Another notable institution that increased its holdings of Amphenol stock is Wellington Management Group LLP, which grew its holdings by 1.5% during the first quarter. The firm now owns over 1 million shares of Amphenol stock, valued at approximately $95.9 million. Xponance Inc., another institutional investor, also expanded its holdings by 2.0%, owning over 114,000 shares worth $9.3 million.

Overall, institutional investors hold a majority stake of 93.46% in Amphenol’s stock.

On Tuesday, September 12th , APH stock opened at $86.45 per share with a market capitalization of $51.56 billion.The company’s current ratio stands at 2.33 while quick ratio is at 1.60 indicating strong liquidity positions for the corporation as an electronics manufacturer.

Several research firms have recently evaluated APH’s performance and provided their recommendations for potential investors to consider.Research analysts have suggested varying opinions on the future prospects of Amphenol stock.Credit Suisse Group downgraded their rating on the company from “outperform” to “neutral” and reduced their price target from $91 to $77.Meanwhile, Robert W.Baird and Bank of America both raised their respective price targets from original figures to encourage further investment with Baird increasing it to $100 and Bank of America to $100 as well.Another research firm, Stifel Nicolaus also increased its price target but only to $88. UBS Group provided a slightly optimistic outlook on APH stock by upping their target price from $88 to $103 and recommending a “buy” rating.Currently, based on Bloomberg’s data, the consensus rating for the stock is “Moderate Buy” with an average price target of $94.25.

Furthermore, Amphenol recently declared a quarterly dividend which will be paid out on October 11th to shareholders of record on September 19th. The dividend payout amounts to $0.21 per share and represents an annualized dividend of $0.84 with a yield of 0.97%. The ex-dividend date for this payment is set for September 18th.The dividend payout ratio (DPR) for Amphenol currently stands at 27.36%.

In terms of insider trading activity, VP Lance E. D’amico sold 75,000 shares in the company’s stock on July 28th at an average price of $88.71 per share, amounting to a total value of $6,653,250.In addition, insider Luc Walter sold 264,962 shares at an average price of $87.32 per share resulting in proceeds totaling over $23 million.This was cited in documents filed with the Securities & Exchange Commission (SEC).Over the past three months alone, insiders have collectively sold approximately 1.34 million shares valued at around $117 million.It should be noted that these insider sales account for approximately 2.22% of the total outstanding shares.

In conclusion, Amphenol Co. has garnered attention from various hedge funds and institutional investors who have purchased and divested its shares over recent months.The company’s financial performance has prompted mixed reviews from research firms who have revised their price targets for APH stock accordingly.Amphenol has also declared a quarterly dividend, providing additional returns to investors.Simultaneously, there have been notable insider trading activities within the company.As with any investment decision, it is essential for potential investors to conduct thorough research and evaluation before making any significant financial commitments.

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