Avnet, Inc. (NASDAQ:AVT) Stock Has Average Price Target of $93.25 According to Brokerages

Key Points

• Analysts have a “Moderate Buy” consensus on Avnet, with an average 12-month price target of $93.25 based on six ratings, below the stock’s $102.53 opening price.
• Avnet’s latest quarterly results exceeded expectations, with adjusted EPS of $2.28 versus $1.80 expected and revenue of $8.30 billion, up 47.7% year over year.
• The company increased its quarterly dividend to $0.37, or $1.48 annually, representing a 1.4% yield; institutional investors own approximately 95.78% of outstanding shares.

Shares of Avnet, Inc. (NASDAQ:AVT - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the six ratings firms that are presently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, two have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $93.25.

Several analysts recently weighed in on the company. Zacks Research raised Avnet from a "hold" rating to a "strong-buy" rating in a report on Friday, August 7th. Truist Financial lifted their target price on Avnet from $95.00 to $110.00 and gave the stock a "buy" rating in a research report on Thursday, August 6th. Weiss Ratings downgraded Avnet from a "buy (b)" rating to a "buy (b-)" rating in a report on Thursday, September 24th. Wall Street Zen cut Avnet from a "strong-buy" rating to a "buy" rating in a research note on Saturday, October 3rd. Finally, Wells Fargo & Company lifted their price objective on shares of Avnet from $70.00 to $72.00 and gave the stock an "underweight" rating in a report on Monday, July 20th.

Avnet Trading Down 3.6%

NASDAQ AVT opened at $102.53 on Thursday. The company has a market capitalization of $8.41 billion, a price-to-earnings ratio of 25.70, a price-to-earnings-growth ratio of 0.32 and a beta of 1.06. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.78 and a quick ratio of 0.97. Avnet has a 12 month low of $44.25 and a 12 month high of $108.63. The company's fifty day moving average price is $94.89 and its two-hundred day moving average price is $85.76.

Avnet (NASDAQ:AVT - Get Free Report) last released 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 during the quarter, compared to the consensus estimate of $7.56 billion. Avnet had a net margin of 1.21% and a return on equity of 9.57%. The company's revenue was up 47.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.81 EPS. Avnet has set its Q1 2027 guidance at 2.800-2.900 EPS. As a group, research analysts predict that Avnet will post 10.45 earnings per share for the current fiscal year.

Avnet Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 23rd. Stockholders of record on Wednesday, September 9th were given a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date was Wednesday, September 9th. This is an increase from Avnet's previous quarterly dividend of $0.35. Avnet's payout ratio is 37.09%.

Insider Activity

In related news, CEO Philip R. Gallagher sold 51,900 shares of the business's stock in a transaction dated Wednesday, August 12th. The shares were 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 owned 168,923 shares of the company's stock, valued at $16,632,158.58. This represents a 23.50% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Michael Ryan Mccoy sold 32,052 shares of the stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $91.10, for a total transaction of $2,919,937.20. Following the sale, the senior vice president owned 76,674 shares in the company, valued at approximately $6,985,001.40. This trade represents a 29.48% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 1.90% of the company's stock.

Hedge Funds Weigh In On Avnet

Several institutional investors have recently made changes to their positions in AVT. BlackRock Inc. bought a new position in Avnet during the 2nd quarter worth $916,146,000. Pzena Investment Management LLC bought a new stake in Avnet in the second quarter valued at $277,153,000. Bank of America Corp DE acquired a new position in shares of Avnet during the second quarter valued at $91,844,000. Bank of New York Mellon Corp bought a new position in shares of Avnet during the second quarter worth about $74,897,000. Finally, Wishbone Management LP bought a new position in shares of Avnet during the second quarter worth about $58,177,100. 95.78% of the stock is owned by institutional investors.

About Avnet

Avnet, Inc is a global technology distributor and solutions provider that connects electronic component manufacturers with customers ranging from original equipment manufacturers and contract manufacturers to design engineers and startups. The company distributes semiconductors, interconnect products, passive and electromechanical components, and embedded computing products used in industrial, automotive, communications, aerospace and defense, healthcare, and consumer applications.

In addition to component distribution, Avnet provides engineering and design support, embedded systems, product customization, supply chain management, logistics, and other services intended to help customers move products from concept and prototyping through production.

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