Avnet (NASDAQ:AVT) Upgraded by Zacks Research to Strong-Buy Rating

Zacks Research upgraded shares of Avnet (NASDAQ:AVT) from a hold rating to a strong-buy rating in a report released on Tuesday,Zacks.com reports.

Several other equities research analysts have also recently weighed in on the company. Weiss Ratings cut Avnet from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, March 19th. Truist Financial raised Avnet from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $65.00 to $80.00 in a research note on Monday. Wells Fargo & Company boosted their price objective on Avnet from $43.00 to $48.00 and gave the stock an “underweight” rating in a research note on Thursday, January 29th. Finally, Wall Street Zen raised Avnet from a “hold” rating to a “buy” rating in a research note on Saturday, January 31st. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $59.33.

Avnet Trading Down 2.1%

Shares of NASDAQ AVT opened at $70.22 on Tuesday. The business’s 50 day moving average is $63.84 and its two-hundred day moving average is $55.01. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.07 and a quick ratio of 1.07. Avnet has a 1-year low of $44.25 and a 1-year high of $73.94. The stock has a market capitalization of $5.75 billion, a P/E ratio of 28.78, a PEG ratio of 0.53 and a beta of 0.90.

Avnet (NASDAQ:AVT) last issued its quarterly earnings data on Wednesday, January 28th. The company reported $1.05 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.10. Avnet had a return on equity of 6.08% and a net margin of 0.90%.The company had revenue of $6.32 billion for the quarter, compared to analysts’ expectations of $6.03 billion. During the same period in the previous year, the firm posted $0.87 earnings per share. The firm’s revenue for the quarter was up 11.6% on a year-over-year basis. Avnet has set its Q3 2026 guidance at 1.200-1.300 EPS. As a group, research analysts expect that Avnet will post 3.41 EPS for the current year.

Avnet Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 18th. Stockholders of record on Wednesday, March 4th were paid a dividend of $0.35 per share. The ex-dividend date of this dividend was Wednesday, March 4th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.0%. Avnet’s dividend payout ratio is currently 57.38%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Vanguard Group Inc. grew its stake in shares of Avnet by 2.0% during the third quarter. Vanguard Group Inc. now owns 10,783,059 shares of the company’s stock valued at $563,738,000 after buying an additional 214,290 shares during the last quarter. American Century Companies Inc. grew its stake in shares of Avnet by 3.4% during the third quarter. American Century Companies Inc. now owns 3,751,726 shares of the company’s stock valued at $196,140,000 after buying an additional 124,466 shares during the last quarter. AQR Capital Management LLC grew its stake in shares of Avnet by 30.7% during the fourth quarter. AQR Capital Management LLC now owns 2,961,608 shares of the company’s stock valued at $142,394,000 after buying an additional 695,929 shares during the last quarter. LSV Asset Management grew its stake in shares of Avnet by 7.6% during the fourth quarter. LSV Asset Management now owns 2,811,171 shares of the company’s stock valued at $135,161,000 after buying an additional 197,400 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC grew its stake in shares of Avnet by 5.3% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 2,011,676 shares of the company’s stock valued at $105,170,000 after buying an additional 101,873 shares during the last quarter. Institutional investors own 95.78% of the company’s stock.

About Avnet

Avnet, Inc (NASDAQ: AVT) is a global technology distributor and solutions provider specializing in the sourcing, design, and supply chain management of electronic components and embedded systems. The company offers a broad portfolio of semiconductors, interconnect, passive and electromechanical components, as well as embedded hardware and software, cloud solutions, and Internet of Things (IoT) services. Avnet’s offerings aim to support customers through every stage of the product lifecycle, from initial prototype and design to production and end-of-life management.

Founded in 1921 by Charles Avnet, the company has evolved from a regional radio parts supplier into a multinational enterprise.