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

Key Points

• Avnet has a “Moderate Buy” consensus rating from six analysts, with two buy, two strong-buy, one hold, and one sell recommendation. The average 12-month price target is $93.25.
• Avnet exceeded quarterly expectations, reporting $2.28 in EPS versus the $1.80 consensus and $8.30 billion in revenue versus $7.56 billion expected; revenue rose 47.7% year over year.
• CEO Philip Gallagher sold 51,900 shares for approximately $5.1 million, reducing his direct holdings by 23.5%, while institutional investors own a substantial 95.78% of the company.

Avnet, Inc. (NASDAQ:AVT - Get Free Report) has earned a consensus recommendation of "Moderate Buy" from the six ratings firms that are currently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation, two have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $93.25.

A number of analysts recently commented on AVT shares. Bank of America upgraded shares of Avnet from an "underperform" rating to a "neutral" rating and upped their price objective for the company from $66.00 to $96.00 in a research report on Wednesday, May 13th. Wall Street Zen upgraded Avnet from a "buy" rating to a "strong-buy" rating in a report on Saturday, July 25th. Truist Financial boosted their target price on Avnet from $95.00 to $110.00 and gave the company a "buy" rating in a research note on Thursday, August 6th. Weiss Ratings upgraded Avnet from a "hold (c+)" rating to a "buy (b)" rating in a report on Friday. Finally, Raymond James Financial reaffirmed a "strong-buy" rating and set a $95.00 price target on shares of Avnet in a research report on Thursday, April 30th.

Insider Activity

In related news, CEO Philip R. Gallagher sold 51,900 shares of the stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $98.46, for a total transaction of $5,110,074.00. Following the completion of the sale, the chief executive officer directly owned 168,923 shares of the company's stock, valued at approximately $16,632,158.58. This represents a 23.50% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.90% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of AVT. Jefferies Financial Group Inc. bought a new position in shares of Avnet during the fourth quarter worth about $602,000. Jupiter Asset Management Ltd. bought a new stake in Avnet in the 4th quarter valued at approximately $4,865,000. GSA Capital Partners LLP lifted its stake in Avnet by 255.2% in the 4th quarter. GSA Capital Partners LLP now owns 41,830 shares of the company's stock valued at $2,011,000 after acquiring an additional 30,052 shares in the last quarter. Edgestream Partners L.P. acquired a new position in Avnet during the 1st quarter worth approximately $2,400,000. Finally, LSV Asset Management boosted its position in Avnet by 7.6% during the 4th quarter. LSV Asset Management now owns 2,811,171 shares of the company's stock worth $135,161,000 after acquiring an additional 197,400 shares during the last quarter. Institutional investors own 95.78% of the company's stock.

Avnet Stock Down 5.3%

Shares of NASDAQ AVT opened at $93.40 on Wednesday. Avnet has a 52-week low of $44.25 and a 52-week high of $100.00. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.97 and a current ratio of 1.78. The stock has a market cap of $7.66 billion, a P/E ratio of 23.41, a P/E/G ratio of 0.32 and a beta of 1.09. The firm has a 50 day moving average price of $89.37 and a 200 day moving average price of $77.84.

Avnet (NASDAQ:AVT - Get Free Report) last posted its earnings results on Wednesday, August 5th. The company reported $2.28 earnings per share for the quarter, topping the consensus estimate of $1.80 by $0.48. The company had revenue of $8.30 billion for the quarter, compared to analyst estimates of $7.56 billion. Avnet had a net margin of 1.21% and a return on equity of 9.57%. The business's revenue for the quarter was up 47.7% compared to the same quarter last year. During the same period last year, the business posted $0.81 earnings per share. Avnet has set its Q1 2027 guidance at 2.800-2.900 EPS. Analysts expect that Avnet will post 9.66 EPS for the current year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source