Avnet (NASDAQ:AVT) Sets New 52-Week High - Here's What Happened

Key Points

• Avnet's stock reached a new 52-week high, trading as high as $84.75 (last at $84.03) with about 1.25 million shares changing hands and a market cap near $6.87 billion.
• The company reported stronger-than-expected results—$1.48 EPS vs. $1.33 consensus and $7.12B revenue vs. $6.45B consensus (revenue up 34% YoY)—and set Q4 2026 guidance of $1.70–$1.80 EPS.
• Analyst views are mixed but MarketBeat shows a Moderate Buy consensus with an average price target of $77.50, and CEO Philip Gallagher recently sold 23,920 shares, modestly reducing his stake.

Avnet, Inc. (NASDAQ:AVT - Get Free Report)'s stock price reached a new 52-week high on Wednesday . The stock traded as high as $84.75 and last traded at $84.0340, with a volume of 1245859 shares trading hands. The stock had previously closed at $82.40.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Weiss Ratings lowered shares of Avnet from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Thursday, March 19th. Zacks Research upgraded shares of Avnet from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, April 14th. Wells Fargo & Company lifted their price objective on shares of Avnet from $60.00 to $70.00 and gave the company an "underweight" rating in a research note on Thursday, April 30th. Truist Financial boosted their price target on shares of Avnet to $95.00 and gave the company a "buy" rating in a research note on Wednesday, April 29th. Finally, Raymond James Financial restated a "strong-buy" rating and set a $95.00 price target on shares of Avnet in a research note on Thursday, April 30th. Two equities research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Avnet currently has a consensus rating of "Moderate Buy" and an average price target of $77.50.

Avnet Stock Up 1.6%

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 capitalization of $6.87 billion, a PE ratio of 32.57, a P/E/G ratio of 0.58 and a beta of 1.09. The stock's fifty day simple moving average is $66.65 and its 200-day simple moving average is $57.23.

Avnet (NASDAQ:AVT - Get Free Report) last released its quarterly earnings data on Wednesday, April 29th. The company reported $1.48 EPS for the quarter, beating the consensus estimate of $1.33 by $0.15. The business had revenue of $7.12 billion for 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%. The company's revenue was up 34.0% compared to the same quarter last year. During the same period in the prior 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, sell-side analysts forecast that Avnet, Inc. will post 4.92 EPS for the current fiscal year.

Avnet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 18th. Shareholders of record on Wednesday, March 4th were issued a dividend of $0.35 per share. The ex-dividend date of this dividend was Wednesday, March 4th. This represents a $1.40 annualized dividend and a yield of 1.7%. Avnet's dividend payout ratio is 54.47%.

Insider Buying and Selling

In other news, CEO Philip R. Gallagher sold 23,920 shares of the stock in a transaction dated 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 sale, the chief executive officer directly owned 145,003 shares of the company's stock, valued at approximately $12,023,648.76. This represents a 14.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Avnet

Large investors have recently modified their holdings of the company. GSA Capital Partners LLP bought a new position in shares of Avnet in the third quarter valued at approximately $616,000. Candriam S.C.A. bought a new position in shares of Avnet in the third quarter valued at approximately $2,064,000. Vanguard Group Inc. boosted its position in shares of Avnet by 2.0% in the third quarter. Vanguard Group Inc. now owns 10,783,059 shares of the company's stock valued at $563,738,000 after acquiring an additional 214,290 shares during the period. Polaris Capital Management LLC bought a new position in shares of Avnet in the third quarter valued at approximately $1,861,000. Finally, State of Alaska Department of Revenue boosted its position in shares of Avnet by 32.4% in the third quarter. State of Alaska Department of Revenue now owns 75,401 shares of the company's stock valued at $3,941,000 after acquiring an additional 18,455 shares during the period. 95.78% of the stock is currently owned by institutional investors.

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.