Avnet (NASDAQ:AVT) Sets New 1-Year High – What’s Next?

Avnet, Inc. (NASDAQ:AVT) shares hit a new 52-week high during trading on Tuesday . The stock traded as high as $87.80 and last traded at $87.77, with a volume of 246734 shares. The stock had previously closed at $85.91.

Analyst Upgrades and Downgrades

AVT has been the subject of several research analyst reports. Weiss Ratings lowered shares of Avnet from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, March 19th. Bank of America upgraded shares of Avnet from an “underperform” rating to a “neutral” rating and raised their price objective for the stock from $66.00 to $96.00 in a report on Wednesday, May 13th. Raymond James Financial reiterated a “strong-buy” rating and set a $95.00 target price on shares of Avnet in a report on Thursday, April 30th. Zacks Research upgraded shares of Avnet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 14th. Finally, Truist Financial lifted their target price on shares of Avnet to $95.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. Two investment analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Avnet currently has an average rating of “Moderate Buy” and an average price target of $89.00.

Avnet Stock Up 0.1%

The company’s fifty day moving average price is $73.43 and its 200-day moving average price is $61.09. The stock has a market capitalization of $7.15 billion, a PE ratio of 33.90, a price-to-earnings-growth ratio of 0.40 and a beta of 1.09. The company has a quick ratio of 1.05, a current ratio of 2.01 and a debt-to-equity ratio of 0.50.

Avnet (NASDAQ:AVT) last released its earnings results on Wednesday, April 29th. The company reported $1.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.33 by $0.15. Avnet had a net margin of 0.86% and a return on equity of 7.07%. The firm had revenue of $7.12 billion during the quarter, compared to analyst estimates of $6.45 billion. During the same period last year, the business earned $0.84 earnings per share. The business’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. Analysts forecast that Avnet, Inc. will post 5.12 earnings per share for the current year.

Avnet Dividend Announcement

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

Insider Buying and Selling at Avnet

In related news, CEO Philip R. Gallagher sold 23,920 shares of the firm’s 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 completion of the sale, the chief executive officer owned 145,003 shares of the company’s stock, valued at $12,023,648.76. This trade represents a 14.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Avnet

Several institutional investors and hedge funds have recently made changes to their positions in AVT. Norges Bank bought a new stake in shares of Avnet during the fourth quarter valued at approximately $62,393,000. AQR Capital Management LLC increased its position 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 acquiring an additional 695,929 shares in the last quarter. Jain Global LLC bought a new stake in shares of Avnet during the fourth quarter valued at approximately $18,873,000. Loews Corp increased its position in shares of Avnet by 258.3% during the fourth quarter. Loews Corp now owns 430,000 shares of the company’s stock valued at $20,674,000 after acquiring an additional 310,000 shares in the last quarter. Finally, Millennium Management LLC increased its position in shares of Avnet by 75.3% during the fourth quarter. Millennium Management LLC now owns 654,695 shares of the company’s stock valued at $31,478,000 after acquiring an additional 281,273 shares in the last quarter. Institutional investors own 95.78% of the company’s stock.

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.