Core Insights - Madison Mid Cap Fund's Class I returned 1.9% in Q3 2025, underperforming the Russell Midcap Index which increased by 5.3% [1] - Information Technology sector led the performance in both the quarter and year-to-date [1] Company Performance - Amphenol Corporation (NYSE: APH) reported a one-month return of -2.59% but gained 75.47% over the last 52 weeks, closing at $130.36 per share with a market capitalization of $159.568 billion on November 20, 2025 [2] - Amphenol's Q3 sales increased by 53% in US dollars and 52% in local currencies, reaching $6.194 billion [4] Investment Insights - Madison Mid Cap Fund highlighted Amphenol as a strong performer due to its revenue growth driven by AI-related data center spending, alongside other companies like Arista Networks and MKS [3] - The number of hedge funds holding Amphenol increased from 69 to 81 in the second quarter, indicating growing interest [4]

Core Insights - Amphenol (APH) is implementing an aggressive acquisition strategy that is yielding positive results, enhancing its long-term growth prospects [1] - The company's third-quarter performance showcases strong organic demand and the benefits of targeted M&A efforts, improving its competitive position [1][10] Acquisition Strategy - The acquisition of Rochester Sensors demonstrates Amphenol's focus on acquiring specialized technologies to enhance its interconnect and sensor systems portfolio [2] - Amphenol completed the acquisition of Trexon for approximately $1 billion, which adds harsh-environment connectivity solutions to its offerings [2] - The pending acquisition of CommScope's Connectivity & Cable Solutions (CCS) business is expected to close in Q1 2026, significantly expanding Amphenol's fiber-optic and broadband capabilities [3] Financial Performance - Amphenol's revenue for the full year 2025 is projected to reach $22.74 billion, reflecting a robust 49% year-over-year increase [4] - Management's sales outlook for Q4 2025 is between $6.0 billion and $6.1 billion, indicating an accelerating growth trajectory [4] - The Zacks Consensus Estimate for Amphenol's 2025 earnings is $3.30 per share, representing a 74.6% increase year-over-year [14] Competitive Landscape - TE Connectivity and Belden Inc. are Amphenol's main competitors, both pursuing active acquisition strategies in similar markets [5] - TE Connectivity focuses on high-ROIC M&A and allocates more free cash flow to buybacks and dividends, contrasting with Amphenol's broader acquisition approach [6] - Belden emphasizes innovation and capability upgrades, operating with a more specialized strategy compared to Amphenol's broad-scale consolidation efforts [7] Share Price and Valuation - Amphenol's shares have increased by 90.5% year-to-date, outperforming the broader Zacks Computer & Technology sector's growth of 23.6% [8] - The company is currently trading at a forward P/E of 35.13X, which is higher than the sector's average of 28.37X [11]

Core Insights - Amphenol Corporation has completed the acquisition of Trexon for approximately $1 billion in cash, positioning itself as one of the best aggressive growth stocks to buy currently [1][3] Group 1: Acquisition Details - The acquisition of Trexon, which specializes in high-reliability interconnect and cable assemblies primarily for the defense industry, is expected to enhance Amphenol's offerings in the Harsh Environment Solutions segment [2][3] - Trexon is projected to generate sales of around $290 million and achieve EBITDA margins of approximately 26% by 2025 [2] Group 2: Strategic Implications - The integration of Trexon's high-reliability cable assembly products with Amphenol's advanced interconnect solutions is anticipated to bolster technology solutions for customers in the defense market [4] - The acquisition is expected to be accretive to Amphenol's earnings per share in the first year following the closing [3] Group 3: Company Overview - Amphenol Corporation is a leading global entity engaged in the design, manufacturing, and marketing of various electrical, electronic, and fiber optic connectors, interconnect systems, antennas, sensors, and specialty cables [5]

Core Viewpoint - Corning Inc. (GLW) has experienced a decline of 7.8% in its stock price, prompting investors to consider alternative investment options, particularly Amphenol (APH), which shows stronger financial performance and lower valuation [2]. Financial Performance Comparison - Amphenol's quarterly revenue growth stands at 53.4%, significantly higher than Corning's 20.9% [2]. - Over the last 12 months, Amphenol's revenue growth is 47.4%, compared to Corning's 18.3% [2]. - Amphenol's profitability is superior, with a last 12 months margin of 24.6% and a three-year average margin of 22.2%, outperforming Corning [2]. Valuation & Performance Overview - A side-by-side analysis of financials reveals that Corning's fundamentals lag behind Amphenol in terms of growth, margins, momentum, and valuation multiples [3]. - The Trefis High Quality Portfolio (HQ), which includes 30 stocks, has consistently outperformed its benchmark, achieving returns exceeding 105% since its formation, suggesting a less volatile investment option compared to individual stocks [4][7].

Core Insights - The content emphasizes the importance of conducting personal due diligence before making any financial decisions, particularly in the context of investments and trading [1] Group 1 - The website provides general news, personal analysis, and third-party content intended for educational and research purposes [1] - It explicitly states that the information should not be interpreted as investment advice or recommendations [1] - Users are encouraged to consult their own advisors and consider their financial situation before making decisions [1] Group 2 - The website includes information on complex financial instruments such as cryptocurrencies and contracts for difference (CFDs), which carry a high risk of losing money [1] - It highlights the necessity for users to understand these instruments fully before investing [1] - The content warns that trading decisions made based on the information provided are the sole responsibility of the user [1]

Core Viewpoint - Amphenol Corporation (NYSE:APH) is recognized as a strong investment opportunity due to its growth potential and market position, despite being considered expensive relative to its growth rate [1]. Company Overview - Amphenol Corporation manufactures electrical, electronic, and fiber optic connectors, cables, and sensors for various industries, including automotive, aerospace, communications, and industrial technology [1]. Market Sentiment - Jim Cramer highlighted Amphenol as a "great stock" during a recent discussion, emphasizing its strong performance and growth trajectory [1]. - Cramer referred to Amphenol as an "amazing company," noting its evolution from a coaxial cable company to a significant player in the data center market [1]. Valuation Insights - The stock is currently valued at a high multiple in the 30s, indicating that while it is not cheap, it is still a solid investment for long-term holders [1]. - Cramer advised against chasing the stock at its current valuation but suggested holding it if already owned [1].

Core Insights - The Baron Asset Fund underperformed for the second consecutive quarter, declining 4.23% in Q3 2025, while the Index gained 2.78% [3] - The underperformance was primarily due to the Fund's underexposure to Momentum, Beta, and Residual Volatility factors, which led the market higher [3] - The Fund's overexposure to Earnings Quality negatively impacted performance as lower quality stocks rallied during the quarter [3] Sector Performance - Stock selection in IT and Communication Services accounted for about three-quarters of the underperformance, with significant declines from Gartner, Inc. and StubHub Holdings, Inc. [4] - Weakness in Consumer Discretionary was broad-based, with notable declines from Choice Hotels International, Inc. and On Holding AG [5] - Financials were hindered by FactSet Research Systems Inc. and Morningstar, Inc., affected by industry-wide concerns regarding AI and a shift in investor focus [7] - Health Care showed solid stock selection, driven by strong performance from IDEXX Laboratories, Inc. [8] Key Contributors - IDEXX Laboratories, Inc. contributed 1.13% to returns, benefiting from improved foot traffic and revenue growth in its Companion Animal segment [9] - Amphenol Corporation gained 1.01% as expectations for data center spending rose, bolstered by a significant acquisition [10] - SpaceX reported substantial growth in its Starlink service and continued advancements in rocket technology [11][12] Key Detractors - Gartner, Inc. detracted 2.31% from performance due to disappointing earnings and decelerating contract value growth [13] - StubHub Holdings, Inc. faced challenges post-IPO, with investments impacting near-term results [16] - Verisk Analytics, Inc. was affected by a conservative outlook and concerns about the property and casualty insurance market [17]

Group 1 - The article does not provide any specific content related to a company or industry [1]

Group 1: Aquestive Therapeutics - Jim Cramer described Aquestive Therapeutics, Inc. as a "very interesting spec" [1] - Piper Sandler analyst David Amsellem maintained an Overweight rating on Aquestive Therapeutics and raised the price target from $5 to $8 [1] - Shares of Aquestive Therapeutics gained 2% to close at $5.69 [4] Group 2: Amphenol Corporation - Cramer praised Amphenol Corporation as a "great" stock and recommended staying in the cable play [1] - Amphenol reported fiscal third-quarter 2025 results with quarterly sales increasing by 53% year-on-year to $6.19 billion, exceeding the analyst consensus estimate of $5.53 billion [1] - Adjusted EPS for Amphenol was 93 cents, beating the analyst consensus estimate of 80 cents [1] - Amphenol shares fell 0.3% to settle at $143.47 [4] Group 3: Joby Aviation - Cramer criticized Joby Aviation, Inc. for "losing too much money" [2] - Joby Aviation's third-quarter earnings report showed losses of 48 cents per share, missing the Street estimate for losses of 19 cents [2] - Joby Aviation shares rose 3.7% to settle at $16.35 [4]

Core Insights - Amphenol (APH) shares have appreciated 16.1% over the past month, significantly outperforming the broader Zacks Computer & Technology sector's return of 3.8% and matching the growth of the Zacks Electronics Connectors industry [1] - The company has also outperformed key competitors TE Connectivity (TEL) and ITT Inc. (ITT), which gained 13% and 11.5% respectively during the same period [2] Financial Performance - Amphenol's strong third-quarter performance highlights its long-term investment appeal, driven by solid top-line growth, margin expansion, robust cash flow, and a substantial dividend increase [3] - The company expects fourth-quarter 2025 earnings to be between 89 cents and 91 cents per share, indicating growth of 62-65% year over year, with revenues anticipated to be between $6 billion and $6.1 billion, suggesting growth of 39-41% [7][17] - Amphenol reported $3.89 billion in cash and cash equivalents at the end of the third quarter, up from $3.23 billion in the prior quarter, showcasing its strong liquidity position [19] - The company generated $1.47 billion in operating cash flow in the third quarter, up from $1.4 billion in the previous quarter, along with $1.2 billion in free cash flow, indicating efficient operations [20] Strategic Acquisitions - Amphenol's disciplined acquisition strategy continues to enhance its market reach and technology capabilities, with recent acquisitions including Rochester Sensors, adding approximately $100 million in annual sales, and Trexon for about $1 billion [12][13][14] - The pending acquisition of CommScope's CCS business, expected to close by the first quarter of 2026, further emphasizes Amphenol's active pursuit of complementary assets [14] Valuation - Amphenol is currently trading at a premium valuation, with a forward 12-month Price/Earnings (P/E) ratio of 37.54X compared to the Zacks Computer and Technology sector's average of 28.61X, supported by steady earnings growth [8] - The company has consistently surpassed the Zacks Consensus Estimate over the past year, with an average surprise of 17.90% [18] Shareholder Returns - Amphenol returned $354 million to shareholders in the third quarter through $201 million in dividends and $153 million in share repurchases, reflecting confidence in its long-term growth prospects [21] Investment Outlook - APH stock is considered attractive due to strong earnings growth, solid cash flow, and strategic acquisitions that expand its technology portfolio and market reach, making it a compelling buy [22]