Avnet (NASDAQ:AVT) Upgraded to Strong-Buy at Wall Street Zen

Key Points

• Wall Street Zen upgraded Avnet from “buy” to “strong-buy,” adding to a mixed but generally positive analyst backdrop. MarketBeat says the stock currently has an average rating of Moderate Buy with an average price target of $89.50.
• Avnet reported better-than-expected quarterly results, posting EPS of $1.48 versus estimates of $1.33 and revenue of $7.12 billion versus $6.45 billion expected. Revenue rose 34% year over year, and the company guided Q4 2026 EPS to $1.70–$1.80.
• The stock was trading near its highs, opening at $89.42 with a 52-week range of $44.25 to $95.26. The article also noted that CEO Philip R. Gallagher sold shares, while institutional investors continue to hold the vast majority of the company’s stock.

Avnet (NASDAQ:AVT - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a note issued to investors on Saturday.

Other analysts have also issued reports about the company. Wells Fargo & Company lifted their price target on Avnet from $70.00 to $72.00 and gave the stock an "underweight" rating in a report on Monday. Truist Financial lifted their price objective on shares of Avnet to $95.00 and gave the stock a "buy" rating in a research report on Wednesday, April 29th. Bank of America raised shares of Avnet from an "underperform" rating to a "neutral" rating and lifted their price target for the stock from $66.00 to $96.00 in a report on Wednesday, May 13th. Raymond James Financial reissued a "strong-buy" rating and issued a $95.00 target price on shares of Avnet in a research report on Thursday, April 30th. Finally, Zacks Research lowered Avnet from a "strong-buy" rating to a "hold" rating in a report on Tuesday, June 30th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $89.50.

Avnet Price Performance

Shares of NASDAQ AVT opened at $89.42 on Friday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.05 and a current ratio of 2.01. The stock has a market cap of $7.33 billion, a price-to-earnings ratio of 34.79, a PEG ratio of 0.28 and a beta of 1.09. The firm's 50-day simple moving average is $87.31 and its 200 day simple moving average is $72.65. Avnet has a fifty-two week low of $44.25 and a fifty-two week high of $95.26.

Avnet (NASDAQ:AVT - Get Free Report) last announced its earnings results on Wednesday, April 29th. The company reported $1.48 EPS for the quarter, beating the consensus estimate of $1.33 by $0.15. Avnet had a net margin of 0.86% and a return on equity of 7.07%. The company had revenue of $7.12 billion during the quarter, compared to the consensus estimate of $6.45 billion. During the same quarter in the prior year, the company posted $0.84 earnings per share. The firm's revenue for the quarter was up 34.0% on a year-over-year basis. Avnet has set its Q4 2026 guidance at 1.700-1.800 EPS. As a group, research analysts anticipate that Avnet will post 5.12 earnings per share for the current fiscal year.

Insiders Place Their Bets

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 sale, the chief executive officer owned 145,003 shares of the company's stock, valued at $12,023,648.76. This trade represents a 14.16% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Avnet

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Royal Bank of Canada raised its position in shares of Avnet by 3.0% in the 1st quarter. Royal Bank of Canada now owns 71,697 shares of the company's stock worth $3,447,000 after purchasing an additional 2,101 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in Avnet by 16.0% in the first quarter. Goldman Sachs Group Inc. now owns 231,814 shares of the company's stock worth $11,148,000 after buying an additional 31,919 shares during the last quarter. United Services Automobile Association bought a new position in shares of Avnet in the first quarter worth approximately $267,000. Empowered Funds LLC grew its holdings in shares of Avnet by 9.3% during the first quarter. Empowered Funds LLC now owns 8,142 shares of the company's stock valued at $392,000 after buying an additional 696 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Avnet by 4.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 353,757 shares of the company's stock valued at $17,012,000 after acquiring an additional 16,443 shares in the last quarter. Institutional investors own 95.78% of the company's stock.

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.

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