Avnet, Inc. (NASDAQ:AVT) Stock Has Consensus Target Price of $93.25 According to Analysts

Avnet, Inc. (NASDAQ:AVT) has earned an average recommendation of “Moderate Buy” from the six ratings firms that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation, two have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $93.25.

A number of equities research analysts recently weighed in on the company. Zacks Research upgraded Avnet from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 7th. Truist Financial increased their target price on Avnet from $95.00 to $110.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Weiss Ratings raised Avnet from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday. Wall Street Zen cut Avnet from a “strong-buy” rating to a “buy” rating in a report on Saturday, October 3rd. Finally, Wells Fargo & Company upped their price objective on Avnet from $70.00 to $72.00 and gave the company an “underweight” rating in a research note on Monday, July 20th.

Insider Activity at Avnet

In other news, CEO Philip Gallagher sold 51,900 shares of Avnet stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $98.46, for a total transaction of $5,110,074.00. Following the transaction, the chief executive officer owned 168,923 shares in the company, valued at approximately $16,632,158.58. The trade was a 23.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Michael Ryan Mccoy sold 32,052 shares of the business’s stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $91.10, for a total transaction of $2,919,937.20. Following the completion of the sale, the senior vice president directly owned 76,674 shares in the company, valued at approximately $6,985,001.40. This represents a 29.48% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 1.90% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Foster & Motley Inc. acquired a new stake in Avnet during the 2nd quarter worth about $11,263,000. Edgestream Partners L.P. bought a new position in shares of Avnet in the 1st quarter worth about $2,400,000. Oppenheimer Asset Management Inc. acquired a new position in shares of Avnet in the 2nd quarter valued at about $5,838,000. Meeder Asset Management Inc. acquired a new position in shares of Avnet in the 2nd quarter valued at about $2,978,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of Avnet during the 2nd quarter valued at about $684,000. 95.78% of the stock is owned by institutional investors.

Avnet Stock Performance

Shares of Avnet stock opened at $99.36 on Thursday. Avnet has a fifty-two week low of $44.25 and a fifty-two week high of $108.63. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.78 and a quick ratio of 0.97. The firm has a market capitalization of $8.17 billion, a P/E ratio of 24.90, a P/E/G ratio of 0.30 and a beta of 1.06. The company’s 50 day moving average price is $95.36 and its two-hundred day moving average price is $86.15.

Avnet (NASDAQ:AVT) last posted its earnings results on Wednesday, August 5th. The company reported $2.28 earnings per share for the quarter, topping analysts’ consensus estimates of $1.80 by $0.48. Avnet had a net margin of 1.21% and a return on equity of 9.57%. The firm had revenue of $8.30 billion for the quarter, compared to analysts’ expectations of $7.56 billion. During the same quarter in the previous year, the firm posted $0.81 earnings per share. The company’s revenue was up 47.7% on a year-over-year basis. Avnet has set its Q1 2027 guidance at 2.800-2.900 EPS. On average, equities analysts forecast that Avnet will post 10.45 earnings per share for the current fiscal year.

Avnet Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 23rd. Shareholders of record on Wednesday, September 9th were issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend was Wednesday, September 9th. This is a positive change from Avnet’s previous quarterly dividend of $0.35. Avnet’s payout ratio is presently 37.09%.

About Avnet

Avnet, Inc is a global technology distributor and solutions provider that connects electronic component manufacturers with customers ranging from original equipment manufacturers and contract manufacturers to design engineers and startups. The company distributes semiconductors, interconnect products, passive and electromechanical components, and embedded computing products used in industrial, automotive, communications, aerospace and defense, healthcare, and consumer applications.

In addition to component distribution, Avnet provides engineering and design support, embedded systems, product customization, supply chain management, logistics, and other services intended to help customers move products from concept and prototyping through production.