Avnet, Inc. (NASDAQ:AVT) Given Average Rating of “Moderate Buy” by Analysts

Avnet, Inc. (NASDAQ:AVT) has been given an average rating of “Moderate Buy” by the six ratings firms that are covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation, one has assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $89.00.

A number of research firms have weighed in on AVT. Weiss Ratings lowered shares of Avnet from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, March 19th. Wells Fargo & Company raised their price objective on shares of Avnet from $60.00 to $70.00 and gave the company an “underweight” rating in a research note on Thursday, April 30th. Wall Street Zen lowered shares of Avnet from a “strong-buy” rating to a “buy” rating in a research note on Sunday, May 10th. Truist Financial raised their price objective on shares of Avnet to $95.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Finally, Bank of America upgraded shares of Avnet from an “underperform” rating to a “neutral” rating and raised their price objective for the company from $66.00 to $96.00 in a research note on Wednesday, May 13th.

Avnet Trading Down 5.2%

Shares of NASDAQ AVT opened at $88.11 on Friday. Avnet has a 1 year low of $44.25 and a 1 year high of $95.26. The stock has a market cap of $7.23 billion, a P/E ratio of 34.28, a price-to-earnings-growth ratio of 0.42 and a beta of 1.08. The firm has a 50-day moving average of $76.94 and a 200 day moving average of $62.88. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.01 and a quick ratio of 1.05.

Avnet (NASDAQ:AVT) last issued its quarterly earnings results on Wednesday, April 29th. The company reported $1.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.33 by $0.15. Avnet had a net margin of 0.86% and a return on equity of 7.07%. The company had revenue of $7.12 billion during the quarter, compared to analysts’ expectations of $6.45 billion. During the same period last year, the company posted $0.84 EPS. Avnet’s revenue was up 34.0% on a year-over-year basis. Avnet has set its Q4 2026 guidance at 1.700-1.800 EPS. As a group, sell-side analysts expect that Avnet will post 5.12 EPS for the current fiscal year.

Avnet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 17th. Shareholders of record on Wednesday, June 3rd will be paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date is Wednesday, June 3rd. Avnet’s dividend payout ratio (DPR) is currently 54.47%.

Insiders Place Their Bets

In other Avnet news, CEO Philip R. Gallagher sold 23,920 shares of the firm’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $82.92, for a total transaction of $1,983,446.40. Following the completion of the sale, the chief executive officer directly owned 145,003 shares in the company, valued at approximately $12,023,648.76. This trade represents a 14.16% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.90% of the company’s stock.

Institutional Trading of Avnet

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Empowered Funds LLC boosted its stake in shares of Avnet by 1.9% during the first quarter. Empowered Funds LLC now owns 6,833 shares of the company’s stock valued at $421,000 after purchasing an additional 129 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in shares of Avnet by 0.8% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 20,511 shares of the company’s stock valued at $1,264,000 after purchasing an additional 159 shares during the period. Nations Financial Group Inc. IA ADV boosted its stake in shares of Avnet by 1.6% during the first quarter. Nations Financial Group Inc. IA ADV now owns 10,896 shares of the company’s stock valued at $671,000 after purchasing an additional 176 shares during the period. Quadrant Capital Group LLC boosted its stake in shares of Avnet by 2.1% during the fourth quarter. Quadrant Capital Group LLC now owns 8,778 shares of the company’s stock valued at $422,000 after purchasing an additional 184 shares during the period. Finally, Summit Securities Group LLC boosted its stake in shares of Avnet by 32.1% during the first quarter. Summit Securities Group LLC now owns 765 shares of the company’s stock valued at $47,000 after purchasing an additional 186 shares during the period. 95.78% of the stock is currently owned by institutional investors.

Avnet Company Profile

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.