Avnet (NASDAQ:AVT) Rating Increased to Strong-Buy at Wall Street Zen

Wall Street Zen upgraded shares of Avnet (NASDAQ:AVT) from a buy rating to a strong-buy rating in a research report report published on Saturday morning.

AVT has been the topic of a number of other reports. Zacks Research cut Avnet from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 30th. Weiss Ratings raised shares of Avnet from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, July 13th. Bank of America raised shares of Avnet from an “underperform” rating to a “neutral” rating and raised their price objective for the stock from $66.00 to $96.00 in a report on Wednesday, May 13th. Truist Financial lifted their price objective on shares of Avnet to $95.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Finally, Raymond James Financial restated a “strong-buy” rating and set a $95.00 target price on shares of Avnet in a research report on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $89.50.

Avnet Trading Down 0.6%

Shares of AVT stock opened at $89.42 on Friday. The company has a quick ratio of 1.05, a current ratio of 2.01 and a debt-to-equity ratio of 0.50. The firm has a market cap of $7.33 billion, a P/E ratio of 34.79, a PEG ratio of 0.28 and a beta of 1.09. The company has a 50 day moving average of $87.31 and a 200-day moving average of $72.65. Avnet has a 12-month low of $44.25 and a 12-month high of $95.26.

Avnet (NASDAQ:AVT) last posted its quarterly earnings data on Wednesday, April 29th. The company reported $1.48 EPS for the quarter, beating the consensus estimate of $1.33 by $0.15. Avnet had a return on equity of 7.07% and a net margin of 0.86%.The business had revenue of $7.12 billion for the quarter, compared to the consensus estimate of $6.45 billion. During the same quarter in the prior year, the business earned $0.84 earnings per share. Avnet’s revenue for the quarter was up 34.0% on a year-over-year basis. Avnet has set its Q4 2026 guidance at 1.700-1.800 EPS. Sell-side analysts anticipate that Avnet will post 5.12 earnings per share for the current year.

Avnet Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Wednesday, June 3rd were issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend was Wednesday, June 3rd. Avnet’s dividend payout ratio (DPR) is presently 54.47%.

Insider Activity at Avnet

In other news, CEO Philip R. Gallagher sold 23,920 shares of the company’s stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $82.92, for a total value of $1,983,446.40. Following the transaction, the chief executive officer owned 145,003 shares of the company’s stock, valued at approximately $12,023,648.76. This represents a 14.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.90% of the stock is owned by company insiders.

Institutional Trading of Avnet

Large investors have recently modified their holdings of the business. Summit Securities Group LLC bought a new position in shares of Avnet in the fourth quarter worth approximately $28,000. BOKF NA increased its holdings in shares of Avnet by 1,116.7% in the 3rd quarter. BOKF NA now owns 584 shares of the company’s stock worth $31,000 after buying an additional 536 shares during the last quarter. Allworth Financial LP raised its position in shares of Avnet by 199.1% during the 3rd quarter. Allworth Financial LP now owns 700 shares of the company’s stock valued at $37,000 after buying an additional 466 shares in the last quarter. Hantz Financial Services Inc. lifted its holdings in shares of Avnet by 62.0% during the 4th quarter. Hantz Financial Services Inc. now owns 852 shares of the company’s stock worth $41,000 after acquiring an additional 326 shares during the last quarter. Finally, Elevation Wealth Partners LLC grew its position in Avnet by 38.5% in the second quarter. Elevation Wealth Partners LLC now owns 666 shares of the company’s stock worth $59,000 after acquiring an additional 185 shares in the last quarter. Institutional investors 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.