Avnet (NASDAQ:AVT) Releases Earnings Results, Beats Estimates By $0.10 EPS

Avnet (NASDAQ:AVT) released its quarterly earnings data on Wednesday. The company reported $1.05 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.10, Briefing.com reports. Avnet had a net margin of 1.04% and a return on equity of 5.91%. During the same quarter last year, the firm posted $0.87 EPS. The firm’s revenue for the quarter was up 11.6% compared to the same quarter last year. Avnet updated its Q3 2026 guidance to 1.200-1.300 EPS.

Avnet Stock Performance

Shares of NASDAQ:AVT traded up $3.92 on Wednesday, reaching $56.60. 494,740 shares of the company’s stock were exchanged, compared to its average volume of 949,349. Avnet has a twelve month low of $39.22 and a twelve month high of $57.24. The company has a fifty day moving average of $49.09 and a 200-day moving average of $51.03. The company has a market capitalization of $4.60 billion, a price-to-earnings ratio of 21.12, a PEG ratio of 0.40 and a beta of 0.92. The company has a current ratio of 2.36, a quick ratio of 1.12 and a debt-to-equity ratio of 0.58.

Avnet Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 17th. Shareholders of record on Wednesday, December 3rd were given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date was Wednesday, December 3rd. Avnet’s dividend payout ratio is presently 52.24%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Truist Financial raised their price objective on Avnet from $54.00 to $55.00 and gave the company a “hold” rating in a research report on Thursday, October 30th. Zacks Research raised Avnet from a “strong sell” rating to a “hold” rating in a report on Monday, October 20th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Avnet in a report on Wednesday, October 8th. Three equities research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus price target of $49.33.

Hedge Funds Weigh In On Avnet

A number of hedge funds have recently added to or reduced their stakes in the stock. Lazard Asset Management LLC lifted its stake in shares of Avnet by 1.0% in the 2nd quarter. Lazard Asset Management LLC now owns 28,877 shares of the company’s stock valued at $1,532,000 after acquiring an additional 279 shares during the last quarter. Focus Partners Wealth increased its holdings in Avnet by 5.0% in the 3rd quarter. Focus Partners Wealth now owns 6,585 shares of the company’s stock worth $352,000 after purchasing an additional 316 shares in the last quarter. Osaic Holdings Inc. raised its position in Avnet by 21.2% in the second quarter. Osaic Holdings Inc. now owns 2,423 shares of the company’s stock valued at $129,000 after purchasing an additional 423 shares during the last quarter. BOKF NA raised its position in Avnet by 1,116.7% in the third quarter. BOKF NA now owns 584 shares of the company’s stock valued at $31,000 after purchasing an additional 536 shares during the last quarter. Finally, Pathstone Holdings LLC boosted its stake in shares of Avnet by 1.6% during the third quarter. Pathstone Holdings LLC now owns 39,645 shares of the company’s stock valued at $2,073,000 after purchasing an additional 609 shares in 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.