CommScope Holding Co. reached a deal to sell its broadband and cable equipment arm to Amphenol Corp. for about $10.5 billion in cash, the second such deal it’s done with Amphenol as part of a series of divestitures aimed at paying off debt.

Amphenol's operating momentum is exceptional, driven by strong organic growth and strategic M&A. But read why I am cautious about chasing APH stock now.

If an Amphenol-CommScope deal sounds familiar, that's because this is the second such deal that Amphenol has pursued in the past year.