20. Amphenol

APH

Amphenol makes fiber optic, cable, and other connectors for a range of electronics. It's announced two big acquisitions since 2005: Teradyne Connection Systems and SV Microwave. It jumped up our list from last year, when it was ranked 36th.

Morningstar says:
Rating:
Current stock price: $24.30
Fair value estimate: $46.00

Analyst comments:
"Acquisitions and innovative products will enable Amphenol to grow faster than the industry, in our opinion. We believe the company will continue to make strategic acquisitions to build upon its competitive advantages and maintain its impressive profit growth and returns on invested capital." (Updated 10/16/08)