NYSE:AVT - Avnet Stock Price, Forecast & News

Avnet's stock was trading at $28.28 on March 11th, 2020 when COVID-19 reached pandemic status according to the World Health Organization. Since then, AVT stock has decreased by 14.3% and is now trading at $24.25. View which stocks have been mosted impacted by Coronavirus.

8 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Avnet in the last year. There are currently 1 sell rating, 6 hold ratings and 1 strong buy rating for the stock, resulting in a consensus recommendation of "Hold." View analyst ratings for Avnet.

Avnet is scheduled to release its next quarterly earnings announcement on Thursday, April 23rd 2020. View our earnings forecast for Avnet.

Avnet (NYSE:AVT) posted its quarterly earnings data on Thursday, January, 23rd. The technology company reported $0.40 EPS for the quarter, missing the consensus estimate of $0.41 by $0.01. The technology company earned $4.53 billion during the quarter, compared to analysts' expectations of $4.42 billion. Avnet's revenue was down 10.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.04 EPS. View Avnet's earnings history.

Avnet declared a quarterly dividend on Tuesday, February 11th. Shareholders of record on Wednesday, March 4th will be paid a dividend of $0.21 per share on Wednesday, March 18th. This represents a $0.84 annualized dividend and a dividend yield of 3.46%. The ex-dividend date of this dividend is Tuesday, March 3rd. View Avnet's dividend history.

Avnet declared that its Board of Directors has initiated a stock repurchase program on Monday, August 19th 2019, which allows the company to buyback $500,000,000.00 in shares, according to EventVestor. This buyback authorization allows the company to repurchase up to 11% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's board believes its shares are undervalued.

Avnet issued an update on its third quarter earnings guidance on Thursday, January, 23rd. The company provided earnings per share guidance of $0.38-0.48 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.48. The company issued revenue guidance of $4.1-4.5 billion, compared to the consensus revenue estimate of $4.36 billion.

8 Wall Street analysts have issued 12-month target prices for Avnet's stock. Their forecasts range from $22.00 to $47.00. On average, they anticipate Avnet's share price to reach $37.83 in the next twelve months. This suggests a possible upside of 56.0% from the stock's current price. View analysts' price targets for Avnet.

News articles about AVT stock have trended extremely negative this week, InfoTrie Sentiment reports. The research group rates the sentiment of press coverage by monitoring more than six thousand blog and news sources. The firm ranks coverage of companies on a scale of negative five to five, with scores nearest to five being the most favorable. Avnet earned a media sentiment score of -4.0 on InfoTrie's scale. They also gave news stories about the technology company a news buzz of 4.0 out of 10, meaning that recent press coverage is somewhat unlikely to have an impact on the company's share price in the near future. View the latest news aboutAvnet.

Some companies that are related to Avnet include Tech Data (TECD), Arrow Electronics (ARW), SYNNEX (SNX), Anixter International (AXE), Insight Enterprises (NSIT), PC Connection (CNXN), ScanSource (SCSC), Agilysys (AGYS) and Richardson Electronics (RELL).

Based on aggregate information from My MarketBeat watchlists, some companies that other Avnet investors own include Adobe (ADBE), Cisco Systems (CSCO), Netflix (NFLX), Gilead Sciences (GILD), Intel (INTC), PepsiCo (PEP), QUALCOMM (QCOM), Xilinx (XLNX), AbbVie (ABBV) and Bristol-Myers Squibb (BMY).

Avnet trades on the New York Stock Exchange (NYSE) under the ticker symbol "AVT."

Avnet's stock is owned by a variety of retail and institutional investors. Top institutional shareholders include Pzena Investment Management LLC (9.01%), AQR Capital Management LLC (3.67%), State Street Corp (3.56%), Janus Henderson Group PLC (3.04%), Lord Abbett & CO. LLC (2.35%) and FMR LLC (1.83%). Company insiders that own Avnet stock include James A Lawrence, Kenneth A Jacobson, Maryann G Miller, Philip R Gallagher and William H Schumann. View institutional ownership trends for Avnet.

AVT stock was sold by a variety of institutional investors in the last quarter, including FMR LLC, Hotchkis & Wiley Capital Management LLC, Alliancebernstein L.P., Prudential Financial Inc., Advisory Research Inc., Fort Washington Investment Advisors Inc. OH, LSV Asset Management, and Russell Investments Group Ltd.. Company insiders that have sold Avnet company stock in the last year include James A Lawrence, Kenneth A Jacobson, Philip R Gallagher, and William H Schumann. View insider buying and selling activity for Avnet.

AVT stock was acquired by a variety of institutional investors in the last quarter, including Pzena Investment Management LLC, Janus Henderson Group PLC, Norges Bank, AQR Capital Management LLC, Renaissance Technologies LLC, Macquarie Group Ltd., Macquarie Group Ltd., and Mackay Shields LLC. View insider buying and selling activity for Avnet.

Shares of AVT can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.

One share of AVT stock can currently be purchased for approximately $24.25.

Avnet has a market capitalization of $2.42 billion.  View additional information about Avnet.

The official website for Avnet is http://www.avnet.com/.

Avnet's mailing address is 2211 SOUTH 47TH STREET, PHOENIX AZ, 85034. The technology company can be reached via phone at 480-643-2000 or via email at [email protected]