Avnet (NASDAQ:AVT) Hits New 52-Week High on Analyst Upgrade

Key Points

• Avnet shares reached a new 52-week high after Truist upgraded the stock from Hold to Buy and raised its price target to $80 (from $65), with shares trading near $69.
• Avnet beat quarterly estimates—$1.05 EPS vs. $0.95 expected and $6.32B revenue vs. $6.03B expected—and set Q3 2026 EPS guidance of $1.20–$1.30.
• Analyst views remain mixed: MarketBeat reports a consensus rating of "Reduce" and an average target price of $59.33 despite recent upgrades.

Avnet, Inc. (NASDAQ:AVT - Get Free Report) shares reached a new 52-week high on Monday after Truist Financial upgraded the stock from a hold rating to a buy rating. Truist Financial now has a $80.00 price target on the stock, up from their previous price target of $65.00. Avnet traded as high as $69.04 and last traded at $68.5150, with a volume of 82861 shares changing hands. The stock had previously closed at $67.03.

A number of other research analysts have also recently issued reports on the stock. Weiss Ratings cut shares of Avnet from a "buy (b-)" rating to a "hold (c+)" rating in a report on Thursday, March 19th. Wells Fargo & Company boosted their price target on shares of Avnet from $43.00 to $48.00 and gave the stock an "underweight" rating in a report on Thursday, January 29th. Finally, Wall Street Zen upgraded shares of Avnet from a "hold" rating to a "buy" rating in a report on Saturday, January 31st. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Avnet presently has a consensus rating of "Reduce" and an average target price of $59.33.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AVT. Hantz Financial Services Inc. boosted its stake in Avnet by 132.7% in the third quarter. Hantz Financial Services Inc. now owns 526 shares of the company's stock valued at $27,000 after acquiring an additional 300 shares during the last quarter. Summit Securities Group LLC purchased a new position in Avnet in the fourth quarter valued at about $28,000. BOKF NA boosted its stake 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 acquiring an additional 536 shares during the last quarter. MAI Capital Management boosted its stake in Avnet by 53.7% in the third quarter. MAI Capital Management now owns 673 shares of the company's stock valued at $35,000 after acquiring an additional 235 shares during the last quarter. Finally, Allworth Financial LP boosted its stake in Avnet by 199.1% in the third quarter. Allworth Financial LP now owns 700 shares of the company's stock valued at $37,000 after acquiring an additional 466 shares during the last quarter. 95.78% of the stock is currently owned by hedge funds and other institutional investors.

Avnet Trading Up 1.9%

The company has a debt-to-equity ratio of 0.50, a current ratio of 2.07 and a quick ratio of 1.07. The stock has a market capitalization of $5.59 billion, a PE ratio of 27.96, a PEG ratio of 0.50 and a beta of 0.90. The stock's 50 day simple moving average is $63.33 and its two-hundred day simple moving average is $54.61.

Avnet (NASDAQ:AVT - Get Free Report) last released its earnings results on Wednesday, January 28th. The company reported $1.05 earnings per share for the quarter, beating analysts' consensus estimates of $0.95 by $0.10. The firm had revenue of $6.32 billion for the quarter, compared to analysts' expectations of $6.03 billion. Avnet had a net margin of 0.90% and a return on equity of 6.08%. The company's quarterly revenue was up 11.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.87 earnings per share. Avnet has set its Q3 2026 guidance at 1.200-1.300 EPS. On average, sell-side analysts expect that Avnet, Inc. will post 3.41 EPS for the current year.

Avnet Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 18th. Shareholders of record on Wednesday, March 4th were paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date was Wednesday, March 4th. Avnet's payout ratio is presently 57.38%.

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.

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.