Price Action Report: Time to Reconsider Amphenol Corporation After Touching 52-Week High?

Price Action Report: Time to Reconsider Amphenol Corporation After Touching 52 Week High?

The stock of Amphenol Corporation (NYSE:APH) hit a new 52-week high and has $96.42 target or 47.00% above today’s $65.59 share price. The 7 months bullish chart indicates low risk for the $20.20 billion company. The 1-year high was reported on Oct, 10 by Barchart.com. If the $96.42 price target is reached, the company will be worth $9.49 billion more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 57,749 shares traded hands. Amphenol Corporation (NYSE:APH) has risen 15.23% since March 7, 2016 and is uptrending. It has outperformed by 7.64% the S&P500.

Analysts await Amphenol Corporation (NYSE:APH) to report earnings on October, 19 before the open. They expect $0.68 EPS, up 4.62% or $0.03 from last year’s $0.65 per share. APH’s profit will be $209.42 million for 24.11 P/E if the $0.68 EPS becomes a reality. After $0.65 actual EPS reported by Amphenol Corporation for the previous quarter, Wall Street now forecasts 4.62% EPS growth.

Amphenol Corporation (NYSE:APH) Ratings Coverage

Out of 6 analysts covering Amphenol (NYSE:APH), 3 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 50% are positive. $64 is the highest target while $52 is the lowest. The $56.50 average target is -13.86% below today’s ($65.59) stock price. Amphenol has been the topic of 14 analyst reports since July 23, 2015 according to StockzIntelligence Inc. The firm has “Top Pick” rating given on Monday, January 18 by RBC Capital Markets. The company was upgraded on Tuesday, September 1 by Zacks. The firm has “Top Pick” rating by RBC Capital Markets given on Friday, January 15. As per Tuesday, September 20, the company rating was upgraded by Goldman Sachs. Goldman Sachs downgraded Amphenol Corporation (NYSE:APH) on Monday, March 14 to “Neutral” rating. The company was maintained on Thursday, October 22 by RBC Capital Markets. The firm has “Hold” rating by Drexel Hamilton given on Tuesday, December 15. The firm has “Buy” rating given on Monday, November 16 by Goldman Sachs. The firm earned “Top Pick” rating on Thursday, July 23 by RBC Capital Markets. The stock has “Buy” rating given by Zacks on Wednesday, August 26.

According to Zacks Investment Research, “Amphenol Corporation is one of the world’s largest designers, manufacturers and marketers of electrical, electronic and fiber optic connectors, interconnect systems and coaxial and flat-ribbon cable. The primary end markets for the company’s products are communication systems for the converging technologies of voice, video and data communications, commercial and military aerospace electronics applications, and industrial factory automation equipment and automotive and mass transportation applications.”

Insitutional Activity: The institutional sentiment increased to 1.07 in Q2 2016. Its up 0.13, from 0.94 in 2016Q1. The ratio improved, as 28 funds sold all Amphenol Corporation shares owned while 166 reduced positions. 43 funds bought stakes while 164 increased positions. They now own 296.53 million shares or 1.38% less from 300.68 million shares in 2016Q1.
Ironbridge Mngmt L P owns 7,854 shares or 0.02% of their US portfolio. Moreover, Janney Montgomery Scott Ltd Liability Com has 0% invested in Amphenol Corporation (NYSE:APH) for 3,880 shares. Agf Investments holds 0.35% or 550,632 shares in its portfolio. Telemus Ltd Llc has invested 0.03% of its portfolio in Amphenol Corporation (NYSE:APH). Moreover, Dana Investment Inc has 0.02% invested in Amphenol Corporation (NYSE:APH) for 9,506 shares. Carroll Fincl Associates has 809 shares for 0.01% of their US portfolio. Profund Advsrs Limited Company has 9,097 shares for 0.03% of their US portfolio. The Connecticut-based Gillespie Robinson Grimm has invested 3.42% in Amphenol Corporation (NYSE:APH). Blackrock Japan owns 402,668 shares or 0.08% of their US portfolio. Balyasny Asset Management has invested 0.04% of its portfolio in Amphenol Corporation (NYSE:APH). Gemmer Asset Ltd Limited Liability Company holds 0.01% or 366 shares in its portfolio. State Of Tennessee Treasury Department reported 68,428 shares or 0.02% of all its holdings. Mai Cap reported 10,319 shares or 0.05% of all its holdings. Moreover, Ls Invest Advsrs has 0.04% invested in Amphenol Corporation (NYSE:APH) for 10,188 shares. Reilly Financial Advsr Ltd Liability Corporation holds 1.53% or 145,622 shares in its portfolio.

Insider Transactions: Since April 26, 2016, the stock had 0 insider purchases, and 22 insider sales for $92.72 million net activity. On Thursday, June 9 the insider Schneider Richard sold $1.48M. $1.56M worth of Amphenol Corporation (NYSE:APH) was sold by Doherty William J on Wednesday, August 10. WALTER LUC had sold 35,000 shares worth $2.11 million. 247,520 Amphenol Corporation (NYSE:APH) shares with value of $14.68 million were sold by Treanor John. Lampo Craig A had sold 22,000 shares worth $1.32M on Tuesday, August 9. $15.46 million worth of Amphenol Corporation (NYSE:APH) shares were sold by NORWITT RICHARD ADAM. Shares for $4.56M were sold by BADIE RONALD P.

APH Company Profile

Amphenol Corporation (Amphenol), incorporated on December 19, 1986, is a designer, maker and marketer of electrical, electronic and fiber optic connectors, interconnect systems, antennas, sensors and sensor products, and coaxial and specialty cable. The Firm operates through two divisions: Interconnect Products and Assemblies, and Cable Products and Solutions.

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