Avnet, Inc. (NASDAQ:AVT) Receives Average Rating of “Moderate Buy” from Brokerages

Avnet, Inc. (NASDAQ:AVT) has been assigned a consensus recommendation of “Moderate Buy” from the six research firms that are currently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating, two have assigned a buy rating and two have given a strong buy rating to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $93.25.

Several equities research analysts recently weighed in on AVT shares. Wall Street Zen raised Avnet from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 25th. Raymond James Financial reissued a “strong-buy” rating and set a $95.00 price objective on shares of Avnet in a research report on Thursday, April 30th. Wells Fargo & Company upped their target price on shares of Avnet from $70.00 to $72.00 and gave the stock an “underweight” rating in a research report on Monday, July 20th. Weiss Ratings upgraded shares of Avnet from a “hold (c+)” rating to a “buy (b)” rating in a research note on Friday, August 14th. Finally, Bank of America raised shares of Avnet from an “underperform” rating to a “neutral” rating and lifted their price target for the company from $66.00 to $96.00 in a research report on Wednesday, May 13th.

Insider Buying and Selling

In other Avnet news, SVP Michael Ryan Mccoy sold 32,052 shares of Avnet 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 transaction, the senior vice president owned 76,674 shares in the company, valued at approximately $6,985,001.40. The trade was a 29.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Philip R. Gallagher sold 51,900 shares of the business’s stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $98.46, for a total value of $5,110,074.00. Following the completion of the sale, the chief executive officer directly owned 168,923 shares in the company, valued at $16,632,158.58. This trade represents a 23.50% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 1.90% of the company’s stock.

Hedge Funds Weigh In On Avnet

Large investors have recently modified their holdings of the stock. Jefferies Financial Group Inc. purchased a new stake in shares of Avnet during the 4th quarter valued at about $602,000. Jupiter Asset Management Ltd. purchased a new position in shares of Avnet during the fourth quarter valued at approximately $4,865,000. Foster & Motley Inc. bought a new position in Avnet during the second quarter valued at approximately $11,263,000. Edgestream Partners L.P. bought a new position in Avnet during the first quarter valued at approximately $2,400,000. Finally, GSA Capital Partners LLP boosted its holdings in Avnet by 255.2% in the fourth quarter. GSA Capital Partners LLP now owns 41,830 shares of the company’s stock worth $2,011,000 after purchasing an additional 30,052 shares during the last quarter. Hedge funds and other institutional investors own 95.78% of the company’s stock.

Avnet Stock Performance

Shares of AVT opened at $87.57 on Wednesday. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.78 and a quick ratio of 0.97. Avnet has a one year low of $44.25 and a one year high of $100.00. The company has a 50-day simple moving average of $89.18 and a two-hundred day simple moving average of $78.70. The firm has a market capitalization of $7.19 billion, a PE ratio of 21.95, a price-to-earnings-growth ratio of 0.26 and a beta of 1.09.

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 return on equity of 9.57% and a net margin of 1.21%.The firm had revenue of $8.30 billion for the quarter, compared to the consensus estimate of $7.56 billion. During the same quarter in the prior year, the business earned $0.81 EPS. The business’s revenue for the quarter 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, analysts anticipate that Avnet will post 10.45 EPS for the current fiscal year.

Avnet Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 23rd. Stockholders of record on Wednesday, September 9th will be issued a dividend of $0.37 per share. The ex-dividend date is Wednesday, September 9th. This is a positive change from Avnet’s previous quarterly dividend of $0.35. This represents a $1.48 annualized dividend and a dividend yield of 1.7%. Avnet’s dividend payout ratio (DPR) is 35.09%.

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.