Reasons for the Outperformance of Amphenol Corporation (APH) in Q4

TimesSquare Capital Management, an equity investment management company, released its “U.S. Mid Cap Growth Strategy” fourth-quarter investor letter. A copy of the same can be downloaded here. In the fourth quarter, the strategy returned 4.18% (net), compared to 6.90% for the Russell Midcap Growth Index. For the calendar year, the strategy returned -22.13% (net) compared to the benchmark’s return of -26.72%. Weakness in Consumer Staples, Energy, Health Care, Information Technology, and Real Estate holdings led to the underperformance of the portfolio in the quarter. In addition, please check the fund’s top five holdings to know its best picks in 2022.

TimesSquare U.S. Mid Cap Growth Strategy highlighted stocks like Amphenol Corporation (NYSE:APH) in the Q4 2022 investor letter. Headquartered in Wallingford, Connecticut, Amphenol Corporation (NYSE:APH) is a manufacturer of electrical, electronic, and fiber optic connectors. On March 30, 2023, Amphenol Corporation (NYSE:APH) stock closed at $80.66 per share. One-month return of Amphenol Corporation (NYSE:APH) was 1.89%, and its shares gained 6.74% of their value over the last 52 weeks. Amphenol Corporation (NYSE:APH) has a market capitalization of $47.961 billion.

TimesSquare U.S. Mid Cap Growth Strategy made the following comment about Amphenol Corporation (NYSE:APH) in its Q4 2022 investor letter:

“More positive was the 14% rise by Amphenol Corporation (NYSE:APH), a producer and supplier of electrical and fiber optic connectors. Third quarter earnings surpassed expectations, with strong demand across nearly all end markets. Despite signs of macroeconomic weakness, management increased its quarterly dividend while continuing the share repurchase program.”

Amphenol Corporation (NYSE:APH) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 40 hedge fund portfolios held Amphenol Corporation (NYSE:APH) at the end of the fourth quarter which was 42 in the previous quarter.

We discussed Amphenol Corporation (NYSE:APH) in another article and shared the list of most undervalued EV stocks to buy according to hedge funds. In addition, please check out our hedge fund investor letters Q4 2022 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.