Avnet (NASDAQ:AVT) Hits New 52-Week High on Better-Than-Expected Earnings

Key Points

• Avnet shares reached a new 52-week high of $95.26 after the company reported quarterly EPS of $2.28, beating consensus by $0.48, while revenue of $8.30 billion exceeded estimates by $740 million and rose 47.7% year over year.
• The company issued Q1 2027 EPS guidance of $2.80–$2.90 and declared a quarterly dividend of $0.35 per share, equivalent to a 1.5% yield and a 54.47% payout ratio.
• Analyst sentiment remains mixed, with an average rating of “Hold” and an average price target of $89.50; institutional investors and hedge funds own 95.78% of Avnet’s outstanding shares.

Avnet, Inc. (NASDAQ:AVT - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Wednesday following a better than expected earnings announcement. The stock traded as high as $95.26 and last traded at $93.2640, with a volume of 13227 shares. The stock had previously closed at $92.53.

The company reported $2.28 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.80 by $0.48. The business had revenue of $8.30 billion during the quarter, compared to analyst estimates of $7.56 billion. Avnet had a net margin of 0.86% and a return on equity of 7.07%. The firm's revenue was up 47.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.81 earnings per share. Avnet has set its Q1 2027 guidance at 2.800-2.900 EPS.

Avnet Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders of record on Wednesday, June 3rd were issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 1.5%. The ex-dividend date was Wednesday, June 3rd. Avnet's payout ratio is currently 54.47%.

Analyst Ratings Changes

A number of research analysts have commented on AVT shares. Weiss Ratings downgraded Avnet from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Tuesday, July 28th. Wall Street Zen upgraded Avnet from a "buy" rating to a "strong-buy" rating in a report on Saturday, July 25th. Wells Fargo & Company lifted their target price on shares of Avnet from $70.00 to $72.00 and gave the company an "underweight" rating in a research note on Monday, July 20th. Bank of America upgraded shares of Avnet from an "underperform" rating to a "neutral" rating and increased their price target for the stock from $66.00 to $96.00 in a research note on Wednesday, May 13th. Finally, Raymond James Financial reaffirmed a "strong-buy" rating and issued a $95.00 price objective on shares of Avnet in a research note on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $89.50.

Institutional Trading of Avnet

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Summit Securities Group LLC bought a new position in shares of Avnet during the 4th quarter worth about $28,000. BOKF NA grew its position in Avnet by 1,116.7% during the third quarter. BOKF NA now owns 584 shares of the company's stock worth $31,000 after buying an additional 536 shares in the last quarter. Hantz Financial Services Inc. increased its stake in Avnet by 62.0% during the fourth quarter. Hantz Financial Services Inc. now owns 852 shares of the company's stock valued at $41,000 after acquiring an additional 326 shares during the period. Elevation Wealth Partners LLC increased its stake in Avnet by 38.5% during the second quarter. Elevation Wealth Partners LLC now owns 666 shares of the company's stock valued at $59,000 after acquiring an additional 185 shares during the period. Finally, Clearstead Advisors LLC raised its holdings in Avnet by 123.7% in the 4th quarter. Clearstead Advisors LLC now owns 1,385 shares of the company's stock valued at $67,000 after acquiring an additional 766 shares in the last quarter. Institutional investors and hedge funds own 95.78% of the company's stock.

Avnet Stock Performance

The firm has a fifty day simple moving average of $87.72 and a 200 day simple moving average of $74.70. The company has a current ratio of 2.01, a quick ratio of 1.05 and a debt-to-equity ratio of 0.50. The stock has a market cap of $7.65 billion, a price-to-earnings ratio of 36.29, a PEG ratio of 0.28 and a beta of 1.09.

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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