Amphenol Corporation (APH), a global leader in interconnect and sensor solutions, was founded in 1932 and is headquartered in Wallingford, Connecticut. With a market cap of $88.2 billion, Amphenol is a major force in the electronics and communications industry. The company designs and manufactures various advanced technologies, including connectors, cable assemblies, and sensors, serving diverse industries.
Companies with a market value of $10 billion or more are classified as “large-cap stocks,” and Amphenol firmly belongs in this category. With strong financials and a focus on innovation, the company continues to excel in diverse sectors such as automotive, aerospace, and telecommunications - demonstrating that its success is built not just on its size but on its commitment to advancing technology and connectivity worldwide.
Amphenol is currently trading slightly below its 52-week high of $74.93, reached on Nov. 25. Shares of Amphenol gained 21.4% over the three months, significantly outperforming the broader S&P 500 Index ($SPX) 10.3% gains during the same time frame.
Over the longer term, APH has delivered a 50.1% on a YTD basis gain, significantly outperforming SPX's 27.6% return. Similarly, over the past 52 weeks, APH gained 62%, surpassing SPX's 33.2% growth during the same period.
To confirm the recent bullish trend, APH has consistently traded above its 50-day moving average since early October and has remained above its 200-day moving average over the past year.
Amphenol's shares gained 2.4% following the release of its strong Q3 earnings on Oct. 23. The company reported record sales of $4.04 billion, reflecting a 26% increase and 15% organic growth year-over-year. Additionally, adjusted EPS reached a record $0.50, representing a 28% improvement compared to last year's period.
Looking ahead, Amphenol issued solid guidance for Q4 2024, expecting sales between $3.95 billion and $4.05 billion, with adjusted EPS ranging from $0.48 to $0.50. For the full year, sales are projected to be between $14.85 billion and $14.95 billion, with adjusted EPS expected to range from $1.82 to $1.84.
Amphenol has also outpaced its competitor, TE Connectivity Ltd. (TEL). TEL has gained 17% over the past 52 weeks and 9% on a YTD basis.
Analysts maintain a cautiously optimistic outlook on APH as the stock continues to outperform the broader sector. The stock has a consensus rating of “Moderate Buy” from the 15 analysts covering the stock and has a mean price target of $77.86, suggesting a potential upside of 4.7% from its current price.
On the date of publication, Rashmi Kumari did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here. More news from Barchart- S&P Futures Tread Water as Key U.S. Jobs Report Looms
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