Avnet, Inc. (NASDAQ:AVT) Given Average Rating of "Moderate Buy" by Brokerages

Key Points

• Avnet has received an average analyst rating of “Moderate Buy” from six brokerages, with a consensus 12-month price target of $77.50. Recent analyst actions were mixed, including price-target hikes from Truist and Wells Fargo and reiterated strength from Raymond James.
• CEO Philip R. Gallagher sold 23,920 shares on May 5 at an average price of $82.92, reducing his ownership by 14.16%. Despite the sale, institutional investors still own 95.78% of the company.
• Avnet recently beat earnings expectations, reporting $1.48 EPS on revenue of $7.12 billion, both above estimates, while revenue rose 34% year over year. The company also pays a quarterly dividend of $0.35, equal to an annualized yield of about 1.7%.

Shares of Avnet, Inc. (NASDAQ:AVT - Get Free Report) have received an average rating of "Moderate Buy" from the six brokerages that are covering the firm, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, one has given a hold recommendation, one has given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $77.50.

A number of research analysts have issued reports on the stock. Truist Financial raised their price target on shares of Avnet to $95.00 and gave the stock a "buy" rating in a report on Wednesday, April 29th. Wells Fargo & Company raised their price target on shares of Avnet from $60.00 to $70.00 and gave the stock an "underweight" rating in a report on Thursday, April 30th. Weiss Ratings cut shares of Avnet from a "buy (b-)" rating to a "hold (c+)" rating in a report on Thursday, March 19th. Raymond James Financial reaffirmed a "strong-buy" rating and issued a $95.00 price target on shares of Avnet in a report on Thursday, April 30th. Finally, Wall Street Zen cut shares of Avnet from a "strong-buy" rating to a "buy" rating in a report on Sunday.

Insider Activity

In other Avnet news, CEO Philip R. Gallagher sold 23,920 shares of the firm's stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $82.92, for a total value of $1,983,446.40. Following the completion of the transaction, the chief executive officer owned 145,003 shares of the company's stock, valued at approximately $12,023,648.76. This trade represents a 14.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.90% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in shares of Avnet by 0.8% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 20,511 shares of the company's stock worth $1,264,000 after purchasing an additional 159 shares during the last quarter. Nations Financial Group Inc. IA ADV raised its holdings in shares of Avnet by 1.6% during the first quarter. Nations Financial Group Inc. IA ADV now owns 10,896 shares of the company's stock worth $671,000 after purchasing an additional 176 shares during the last quarter. Quadrant Capital Group LLC raised its holdings in shares of Avnet by 2.1% during the fourth quarter. Quadrant Capital Group LLC now owns 8,778 shares of the company's stock worth $422,000 after purchasing an additional 184 shares during the last quarter. Summit Securities Group LLC raised its holdings in shares of Avnet by 32.1% during the first quarter. Summit Securities Group LLC now owns 765 shares of the company's stock worth $47,000 after purchasing an additional 186 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its holdings in shares of Avnet by 3.8% during the first quarter. PNC Financial Services Group Inc. now owns 5,163 shares of the company's stock worth $318,000 after purchasing an additional 189 shares during the last quarter. Hedge funds and other institutional investors own 95.78% of the company's stock.

Avnet Price Performance

Shares of AVT opened at $82.09 on Monday. The company has a market cap of $6.73 billion, a price-to-earnings ratio of 31.94, a price-to-earnings-growth ratio of 0.59 and a beta of 1.09. Avnet has a twelve month low of $44.25 and a twelve month high of $84.75. The company has a quick ratio of 1.05, a current ratio of 2.01 and a debt-to-equity ratio of 0.50. The company has a 50 day moving average of $67.26 and a two-hundred day moving average of $57.65.

Avnet (NASDAQ:AVT - Get Free Report) last announced its earnings results on Wednesday, April 29th. The company reported $1.48 earnings per share for the quarter, beating the consensus estimate of $1.33 by $0.15. The company had revenue of $7.12 billion during 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% compared to the same quarter last year. During the same period last year, the firm earned $0.84 earnings per share. Avnet has set its Q4 2026 guidance at 1.700-1.800 EPS. As a group, analysts predict that Avnet will post 4.92 earnings per share for the current fiscal year.

Avnet Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 18th. Shareholders of record on Wednesday, March 4th were issued a $0.35 dividend. The ex-dividend date of this dividend was Wednesday, March 4th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.7%. Avnet's dividend payout ratio (DPR) is currently 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.

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