In this article, we will take a look at the 5 most undervalued EV stocks to buy according to hedge funds. To see more such companies, go directly to 11 Most Undervalued EV Stocks To Buy According To Hedge Funds.
5. Amphenol Corporation (NYSE:APH)
Number of Hedge Fund Holders: 40
Connecticut-based Amphenol Corporation (NYSE:APH) makes electronic and fiber optic connectors, cable and interconnect systems such as coaxial cables. Amphenol Corporation (NYSE:APH) says it has also developed advanced technology solutions for hybrid and electric vehicles. Amphenol Corporation (NYSE:APH)’s parts and related technologies are expected to see an increased demand from EV companies in the future. Amphenol Corporation (NYSE:APH) is also a dividend payer. In February, Amphenol Corporation (NYSE:APH) declared a quarterly dividend of $0.21 per share, in-line with the previous dividend. Forward dividend yield came in at 1.02%. The dividend is payable on April 12 to shareholders of record as of March 21.
During the fourth quarter of 2022, Amphenol Corporation (NYSE:APH)’s adjusted EPS came in at $0.78, beating estimates by $0.03. Revenue in the quarter increased by about 6.9% on a YoY basis to reach $3.24 billion, beating estimates by $90 million.
Amphenol Corporation (NYSE:APH) is also popular among hedge funds. 40 hedge funds tracked by Insider Monkey as of the end of the fourth quarter of 2022 had stakes in the company. The total value of these stakes was $777 million.
Here is what Mawer Investment Management has to say about Amphenol Corporation (NYSE:APH) in its Q3 2022 investor letter:
“With the backdrop of a more uncertain economic environment, there were several companies in our portfolios that performed well over the quarter. Businesses we would define as “boring” were some of the stronger performing stocks in the quarter. Holdings such as manufacturer of electronic connectors and cables Amphenol (NYSE:APH), posted steady increases in revenues and operating profits reflecting the stability of their businesses.”