Avnet (AVT) Getting Somewhat Positive Media Coverage, Study Finds
News stories about Avnet (NYSE:AVT) have trended somewhat positive recently, according to Accern Sentiment. The research group identifies positive and negative media coverage by reviewing more than 20 million news and blog sources in real-time. Accern ranks coverage of public companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Avnet earned a news impact score of 0.17 on Accern’s scale. Accern also assigned media stories about the technology company an impact score of 44.622214986679 out of 100, indicating that recent media coverage is somewhat unlikely to have an effect on the stock’s share price in the near future.
These are some of the media stories that may have effected Accern Sentiment Analysis’s scoring:
- Avnet to Showcase New Services for Bringing Technologies to Market at CES 2018 (finance.yahoo.com)
- Avnet Sponsors The Not Impossible Awards Recognizing Emerging Technologies that Improve Lives (finance.yahoo.com)
- Avnet (AVT) Announces Comprehensive Range of IoT Services (nasdaq.com)
- Avnet, Inc. (AVT) Receives Average Recommendation of “Hold” from Analysts (americanbankingnews.com)
Avnet (NYSE AVT) traded down $0.29 on Tuesday, reaching $39.86. The company had a trading volume of 1,138,532 shares, compared to its average volume of 1,101,402. The stock has a market capitalization of $4,723.42, a price-to-earnings ratio of 12.02, a P/E/G ratio of 1.28 and a beta of 1.09. Avnet has a 12 month low of $35.67 and a 12 month high of $49.19. The company has a current ratio of 2.78, a quick ratio of 1.63 and a debt-to-equity ratio of 0.29.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 19th. Investors of record on Wednesday, December 6th will be given a $0.18 dividend. The ex-dividend date is Tuesday, December 5th. This represents a $0.72 annualized dividend and a yield of 1.81%. Avnet’s dividend payout ratio is currently 17.96%.
Avnet declared that its board has approved a stock buyback program on Friday, November 10th that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the technology company to buy shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management believes its stock is undervalued.
A number of brokerages have recently weighed in on AVT. ValuEngine upgraded Avnet from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. TheStreet upgraded Avnet from a “c” rating to a “b-” rating in a research report on Friday, November 10th. Cross Research upgraded Avnet from a “sell” rating to a “hold” rating in a research report on Friday, October 27th. Citigroup raised their price objective on Avnet from $31.00 to $34.00 and gave the company a “sell” rating in a research report on Friday, October 27th. Finally, Stifel Nicolaus raised their price objective on Avnet from $40.00 to $42.00 and gave the company a “hold” rating in a research report on Thursday, October 26th. Four research analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $40.29.
In related news, CEO Amelio J. William purchased 3,000 shares of the company’s stock in a transaction that occurred on Friday, December 8th. The stock was bought at an average price of $39.16 per share, for a total transaction of $117,480.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.65% of the company’s stock.
Avnet, Inc is a distributor of electronic components, enterprise computer, networking and storage products and software, and embedded subsystems. The Company operates through Electronics Marketing (EM) segment. The EM segment markets and sells semiconductors; interconnect, passive and electromechanical devices (IP&E), and embedded products to a customer base serving various end markets.
Receive News & Ratings for Avnet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Avnet and related companies with MarketBeat.com's FREE daily email newsletter.