Avnet (NASDAQ:AVT) Sets New 12-Month High Following Dividend Announcement

Avnet, Inc. (NASDAQ:AVT) shares hit a new 52-week high on Friday following a dividend announcement from the company. The company traded as high as $67.72 and last traded at $66.9560, with a volume of 183495 shares traded. The stock had previously closed at $66.03.

The newly announced dividend which will be paid on Wednesday, March 18th. Stockholders of record on Wednesday, March 4th will be paid a $0.35 dividend. The ex-dividend date is Wednesday, March 4th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.1%. Avnet’s dividend payout ratio is presently 57.38%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on AVT shares. Truist Financial raised their price target on shares of Avnet from $55.00 to $65.00 and gave the stock a “hold” rating in a research note on Thursday, January 29th. Weiss Ratings lowered Avnet from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday. Wall Street Zen raised shares of Avnet from a “hold” rating to a “buy” rating in a research report on Saturday, January 31st. Finally, Wells Fargo & Company raised their price objective on shares of Avnet from $43.00 to $48.00 and gave the stock an “underweight” rating in a research report on Thursday, January 29th. Three analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Avnet has an average rating of “Reduce” and a consensus target price of $54.33.

Avnet Price Performance

The firm has a market cap of $5.47 billion, a PE ratio of 27.40, a price-to-earnings-growth ratio of 0.49 and a beta of 0.93. The company has a current ratio of 2.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.50. The company has a 50 day moving average price of $54.78 and a 200 day moving average price of $52.28.

Avnet (NASDAQ:AVT) last posted its earnings results on Wednesday, January 28th. The company reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.10. Avnet had a return on equity of 6.08% and a net margin of 0.90%.The company had revenue of $6.32 billion for the quarter, compared to the consensus estimate of $6.03 billion. During the same period in the previous year, the business earned $0.87 earnings per share. Avnet’s quarterly revenue was up 11.6% compared to the same quarter last year. Avnet has set its Q3 2026 guidance at 1.200-1.300 EPS. On average, sell-side analysts expect that Avnet, Inc. will post 3.41 EPS for the current year.

Institutional Investors Weigh In On Avnet

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

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.