Stifel analyst Matthew Sheerin keeps a Hold rating and $100 price target on Amphenol (APH) shares after the company warned that it will miss Q1 guidance due to further disruptions from the novel coronavirus, which he believes "should come as no surprise to investors." He would expect other component and connector suppliers to follow suit over the coming weeks, pointing to Vishay (VSH), Littelfuse (LFUS), Flex (FLEX), Arrow (ARW) and TE Connectivity (TEL) as other companies with 15% or more sales exposure to China. Sensata (ST) and TTM Technologies (TTMI) already factored the impact from Covid-19 in their March quarter guidance previously, but "those numbers could be considered stale at this point," added Sheerin. He also noted that Jabil (JBL) has roughly 50% of its footprint in China and Apple (AAPL) is its biggest customer, making it likely to feel a near-term impact.

BofA raised the firm's price target on TE Connectivity to $161 from $155 and keeps a Buy rating on the shares. Fiscal Q2 results showed quarter-over-quarter order growth in all segments and the firm is expecting steady margins for the rest of FY24, the analyst tells investors in a post-earnings note.

BofA raised the firm's price target on Amphenol to $124 from $121 and keeps a Buy rating on the shares after the company reported revenue and EPS that beat both guidance and Street estimates. Following the report, the firm is raising EPS estimates and reiterates its Buy rating, citing strong execution, improving margins, positive estimate revisions and potential for AI driven upside.

UBS analyst Chris Snyder raised the firm's price target on Amphenol to $138 from $135 and keeps a Buy rating on the shares. Amphenol's IT Datacom business reported 28% organic growth in the quarter, and the v-shaped recovery is due in large part to the company's outsized Data Center exposure, which is hitting the AI opportunity following a sharp period of destock, compounding the acceleration, the analyst tells investors in a research note. Assuming Amphenol hits their guidance and the non-AI business is flat to up 10% sequentially, the firm sees AI revenue of $190M-$240M in Q2, potentially doubling the firm's previous estimate.

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In April, the Company purchased the remaining authorized amount of common stock under the existing three-year, $2B stock repurchase plan. On April 23, the company's board of directors approved a new three-year, $2B open market stock repurchase plan.

Sees Q3 revenue $4B, consensus $4.11B. The company said, "For the third quarter of fiscal 2024, the company expects net sales of approximately $4.0 billion. GAAP EPS from continuing operations are expected to be approximately $1.71, up 2% year over year, with adjusted EPS of approximately $1.85, up 5% year over year. Third quarter guidance includes a $0.15 year-over-year headwind from tax and currency exchange rates."