Avnet (NASDAQ:AVT) Sets New 12-Month High – Here’s What Happened

Avnet, Inc. (NASDAQ:AVT)’s share price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $87.80 and last traded at $87.77, with a volume of 246734 shares changing hands. The stock had previously closed at $85.91.

Analysts Set New Price Targets

AVT has been the topic of several recent analyst reports. Wall Street Zen cut shares of Avnet from a “strong-buy” rating to a “buy” rating in a research report on Sunday, May 10th. Zacks Research upgraded shares of Avnet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, April 14th. Weiss Ratings cut shares of Avnet from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, March 19th. Bank of America upgraded shares of Avnet from an “underperform” rating to a “neutral” rating and lifted their price objective for the company from $66.00 to $96.00 in a research report on Wednesday, May 13th. Finally, Truist Financial lifted their price objective on shares of Avnet to $95.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. Two investment analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $89.00.

Avnet Price Performance

The firm’s 50-day moving average is $72.30 and its two-hundred day moving average is $60.52. The company has a market cap of $7.31 billion, a P/E ratio of 34.66, a PEG ratio of 0.39 and a beta of 1.09. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.01 and a quick ratio of 1.05.

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

Avnet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 17th. Investors of record on Wednesday, June 3rd will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 1.6%. The ex-dividend date is Wednesday, June 3rd. Avnet’s payout ratio is currently 54.47%.

Insiders Place Their Bets

In related news, CEO Philip R. Gallagher sold 23,920 shares of the business’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 sale, the chief executive officer owned 145,003 shares in the company, valued at approximately $12,023,648.76. The trade was a 14.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.90% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Hantz Financial Services Inc. boosted its stake in Avnet by 132.7% during the third quarter. Hantz Financial Services Inc. now owns 526 shares of the company’s stock worth $27,000 after buying an additional 300 shares during the period. Summit Securities Group LLC purchased a new position in Avnet during the fourth quarter worth $28,000. BOKF NA boosted its stake in Avnet by 1,116.7% during the third quarter. BOKF NA now owns 584 shares of the company’s stock worth $31,000 after buying an additional 536 shares during the period. MAI Capital Management boosted its stake in Avnet by 53.7% during the third quarter. MAI Capital Management now owns 673 shares of the company’s stock worth $35,000 after buying an additional 235 shares during the period. Finally, Allworth Financial LP boosted its stake in Avnet by 199.1% during the third quarter. Allworth Financial LP now owns 700 shares of the company’s stock worth $37,000 after buying an additional 466 shares during the period. 95.78% of the stock is owned by hedge funds and other institutional investors.

About Avnet

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.