With shares at all-time highs, Amphenol says it will split stock two-for-one in October

MarketsAssociated Press

Amphenol, a company that makes fiber optic cables and related devices, plans to conduct a two-for-one stock split in October.

The Wallingford, Connecticut, company said Tuesday that it expects the split to take effect Oct. 9. Owners of Amphenol stock on Oct. 2 will get one additional share for each share they own.

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Shares of Amphenol Corp. have gained 28 percent over the last year. The stock is trading around all-time highs and closed at $99.23 Monday.

Stock splits lower a stock's trading price by increasing the number of shares, and companies hope the tactic will attract more buyers. The overall market value of the company stays the same, but the reduced price can bring in investors who felt the stock looked too expensive.