Avnet (AVT) Given News Sentiment Rating of 0.10
Press coverage about Avnet (NYSE:AVT) has been trending somewhat positive recently, according to Accern. The research group ranks the sentiment of media coverage by analyzing more than twenty million news and blog sources in real-time. Accern ranks coverage of publicly-traded companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Avnet earned a news impact score of 0.10 on Accern’s scale. Accern also gave media stories about the technology company an impact score of 45.5271606176338 out of 100, indicating that recent media coverage is somewhat unlikely to have an effect on the company’s share price in the next few days.
Here are some of the news articles that may have impacted Accern Sentiment Analysis’s rankings:
- Avnet to Demonstrate Vertical-Specific IoT Solutions at CES (finance.yahoo.com)
- Avnet (AVT) Rating Increased to Neutral at Goldman Sachs Group (americanbankingnews.com)
- Analysts Anticipate Avnet, Inc. (AVT) to Post $0.72 EPS (americanbankingnews.com)
- SMC Diode Solutions Inks Distribution Deal with Avnet USI (epsnews.com)
- Avnet and Aaware Introduce New Sound Capture Platform to Enable Voice Interface for Artificial Intelligence Applications (finance.yahoo.com)
Shares of Avnet (NYSE AVT) traded down $0.02 on Monday, hitting $41.78. The stock had a trading volume of 576,840 shares, compared to its average volume of 864,016. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.63 and a current ratio of 2.78. Avnet has a 12-month low of $35.67 and a 12-month high of $48.20. The company has a market cap of $5,050.00, a PE ratio of 20.89, a P/E/G ratio of 1.37 and a beta of 1.09.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 19th. Investors of record on Wednesday, December 6th were issued a $0.18 dividend. The ex-dividend date of this dividend was Tuesday, December 5th. This represents a $0.72 dividend on an annualized basis and a yield of 1.72%. Avnet’s payout ratio is currently 36.00%.
Avnet declared that its Board of Directors has authorized a share repurchase program on Friday, November 10th that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the technology company to repurchase shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.
A number of brokerages have recently commented on AVT. Zacks Investment Research cut Avnet from a “buy” rating to a “hold” rating in a research report on Wednesday, December 27th. ValuEngine raised Avnet from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. TheStreet cut Avnet from a “b” rating to a “c” rating in a research report on Thursday, October 26th. Cross Research raised Avnet from a “sell” rating to a “hold” rating in a research report on Friday, October 27th. Finally, Citigroup boosted their price target on Avnet from $31.00 to $34.00 and gave the stock a “sell” rating in a research report on Friday, October 27th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $39.57.
In other news, CEO Amelio J. William acquired 3,000 shares of the firm’s stock in a transaction that occurred on Friday, December 8th. The stock was bought at an average cost of $39.16 per share, for a total transaction of $117,480.00. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.65% of the stock is owned by insiders.
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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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