Avnet, Inc. (NASDAQ:AVT) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Avnet, Inc. (NASDAQ:AVT) have been given a consensus recommendation of “Hold” by the six brokerages that are presently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $89.00.

AVT has been the topic of several research reports. Truist Financial increased their target price on Avnet to $95.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. Bank of America raised Avnet from an “underperform” rating to a “neutral” rating and boosted their price target for the company from $66.00 to $96.00 in a research report on Wednesday, May 13th. Wall Street Zen lowered Avnet from a “strong-buy” rating to a “buy” rating in a research note on Sunday, May 10th. Wells Fargo & Company raised their price objective on Avnet from $60.00 to $70.00 and gave the stock an “underweight” rating in a report on Thursday, April 30th. Finally, Raymond James Financial reaffirmed a “strong-buy” rating and issued a $95.00 price objective on shares of Avnet in a research note on Thursday, April 30th.

Insiders Place Their Bets

In other Avnet news, CEO Philip R. Gallagher sold 23,920 shares of Avnet stock in a transaction that occurred on 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 transaction, the chief executive officer directly owned 145,003 shares of the company’s stock, valued at $12,023,648.76. The trade was a 14.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 1.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Avnet

A number of hedge funds have recently made changes to their positions in AVT. Royal Bank of Canada increased its holdings in Avnet by 3.0% in the 1st quarter. Royal Bank of Canada now owns 71,697 shares of the company’s stock valued at $3,447,000 after purchasing an additional 2,101 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Avnet by 16.0% during the first quarter. Goldman Sachs Group Inc. now owns 231,814 shares of the company’s stock worth $11,148,000 after purchasing an additional 31,919 shares in the last quarter. United Services Automobile Association acquired a new position in shares of Avnet during the first quarter worth about $267,000. Empowered Funds LLC boosted its position in shares of Avnet by 9.3% in the first quarter. Empowered Funds LLC now owns 8,142 shares of the company’s stock worth $392,000 after buying an additional 696 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Avnet by 4.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 353,757 shares of the company’s stock worth $17,012,000 after buying an additional 16,443 shares during the period. Hedge funds and other institutional investors own 95.78% of the company’s stock.

Avnet Price Performance

Avnet stock opened at $82.18 on Tuesday. Avnet has a 1 year low of $44.25 and a 1 year high of $95.26. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.05 and a current ratio of 2.01. The firm has a 50 day moving average price of $86.03 and a 200 day moving average price of $68.74. The company has a market cap of $6.74 billion, a price-to-earnings ratio of 31.98, a PEG ratio of 0.26 and a beta of 1.09.

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

Avnet Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 17th. Investors of record on Wednesday, June 3rd were issued a $0.35 dividend. The ex-dividend date was Wednesday, June 3rd. This represents a $1.40 annualized dividend and a yield of 1.7%. Avnet’s dividend payout ratio (DPR) is presently 54.47%.

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.