Avnet (AVT) Getting Somewhat Positive Press Coverage, Report Shows
News coverage about Avnet (NYSE:AVT) has trended somewhat positive this week, Accern Sentiment reports. The research group rates the sentiment of press coverage by reviewing more than 20 million news and blog sources. Accern ranks coverage of publicly-traded companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Avnet earned a media sentiment score of 0.13 on Accern’s scale. Accern also gave news headlines about the technology company an impact score of 47.5064116092479 out of 100, meaning that recent press coverage is somewhat unlikely to have an effect on the company’s share price in the next several days.
These are some of the headlines that may have effected Accern Sentiment’s scoring:
- Insider Selling: Avnet, Inc. (AVT) Director Sells 10,600 Shares of Stock (americanbankingnews.com)
- Comparing Avnet (AVT) & InvenSense (INVN) (americanbankingnews.com)
- Avnet, Inc. – Value Analysis (NYSE:AVT) : August 14, 2017 (finance.yahoo.com)
- Avnet (AVT) vs. Teledyne Technologies (TDY) Critical Analysis (americanbankingnews.com)
- Avnet, Inc. (NYSE:AVT) Receives Average Rating of “Hold” from Analysts (americanbankingnews.com)
Shares of Avnet (AVT) traded down 1.94% on Thursday, reaching $36.81. 820,896 shares of the company’s stock traded hands. Avnet has a 52 week low of $35.96 and a 52 week high of $51.50. The firm has a market capitalization of $4.57 billion, a price-to-earnings ratio of 9.01 and a beta of 1.04. The company has a 50 day moving average price of $38.61 and a 200 day moving average price of $41.36.
Avnet (NYSE:AVT) last released its quarterly earnings results on Wednesday, August 9th. The technology company reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.07. Avnet had a net margin of 3.00% and a return on equity of 8.87%. The company had revenue of $4.61 billion for the quarter, compared to the consensus estimate of $4.48 billion. During the same period in the previous year, the firm earned $0.86 EPS. Avnet’s revenue was up 16.0% on a year-over-year basis. On average, equities research analysts predict that Avnet will post $3.24 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Wednesday, September 6th will be given a dividend of $0.18 per share. The ex-dividend date of this dividend is Friday, September 1st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.96%. Avnet’s dividend payout ratio (DPR) is 17.69%.
A number of research analysts have recently issued reports on AVT shares. Zacks Investment Research lowered shares of Avnet from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 2nd. Deutsche Bank AG restated a “hold” rating and set a $40.00 target price (down from $47.00) on shares of Avnet in a research report on Saturday, April 29th. Citigroup Inc. restated a “sell” rating and set a $31.00 target price on shares of Avnet in a research report on Friday, April 28th. SunTrust Banks, Inc. lowered shares of Avnet from a “buy” rating to a “hold” rating and lowered their target price for the stock from $53.00 to $39.00 in a research report on Friday, April 28th. Finally, BidaskClub upgraded shares of Avnet from a “sell” rating to a “hold” rating in a research report on Tuesday, June 27th. Six investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $42.11.
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In other Avnet news, Director J Veronica Biggins sold 10,600 shares of the business’s stock in a transaction dated Thursday, August 17th. The shares were sold at an average price of $37.10, for a total transaction of $393,260.00. Following the sale, the director now directly owns 12,191 shares in the company, valued at approximately $452,286.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director James A. Lawrence purchased 408,451 shares of the company’s stock in a transaction on Friday, June 2nd. The shares were bought at an average price of $36.99 per share, for a total transaction of $15,108,602.49. Following the completion of the transaction, the director now directly owns 416,549 shares in the company, valued at approximately $15,408,147.51. The disclosure for this purchase can be found here. 1.47% of the stock is currently owned by insiders.
Avnet Company Profile
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.
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