10 Most Popular EV Stocks Among Famous Hedge Funds

Page 5 of 5

6. Amphenol Corporation (NYSE:APH)

Number of Hedge Fund Holders: 26

Amphenol Corporation (NYSE:APH) is a provider of interconnect solutions such as connectors and cable assemblies for industrial, business, and automotive purposes. The extensive portfolio of power connectors at Amphenol Corporation (NYSE:APH) supports both electric vehicles and EV charging units.

On October 27, Amphenol Corporation (NYSE:APH) announced earnings for Q3, posting an EPS of $0.65, beating estimates by $0.02. The $2.82 billion revenue jumped 21.31% year-over-year, outperforming estimates by $101.56 million. 

Truist analyst William Stein on November 19 raised the price target on Amphenol Corporation (NYSE:APH) to $92 from $85 and kept a Buy rating on the shares, stating that the company is following a consistent inorganic growth strategy. 

At the end of September, 26 hedge funds were long Amphenol Corporation (NYSE:APH), with total stakes valued at approximately $898 million. Robert Joseph Caruso’s Select Equity Group is the leading Amphenol Corporation (NYSE:APH) stakeholder, with 7.25 million shares amounting to $531.3 million. 

In addition to companies like Plug Power Inc. (NASDAQ:PLUG), Tesla, Inc. (NASDAQ:TSLA), General Motors Company (NYSE:GM), and QuantumScape Corporation (NYSE:QS), Amphenol Corporation (NYSE:APH) is a popular EV stock among famous hedge funds. 

Here is what Richie Capital Group has to say about Amphenol Corporation (NYSE:APH) in their Q4 2020 investor letter:

“Amphenol (APH – Up 18.7%) – In December, our high-speed, specialty connector manufacturer announced the acquisition of MTS Systems Corp for $1.7B to enhance their sensor products catalog. Having completed more than a dozen acquisitions since 2016, growth through acquisition is a key tenet of their business strategy and we view this transaction as business as usual. You can read more about our investment thesis for Amphenol here.”

Click to continue reading and see 5 Most Popular EV Stocks Among Famous Hedge Funds

Suggested articles:

Disclosure: None. 10 Most Popular EV Stocks Among Famous Hedge Funds is originally published on Insider Monkey.

Page 5 of 5