AVX Corporation (AVX) Rating Increased to Buy at Zacks Investment Research
AVX Corporation (NYSE:AVX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Thursday. The brokerage presently has a $19.00 price objective on the electronics maker’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 11.50% from the stock’s previous close.
According to Zacks, “AVX Corporation is a leading worldwide manufacturer and supplier of a broad line of passive electronic components and related products. The company’s passive electronic component sales include ceramic and tantalum capacitors, both in leaded and surface-mount versions, film capacitors, ferrites, varistors and non-linear resistors manufactured in the company’s facilities. The company also manufactures and sells electronic connectors and distributes and sells certain connectors. “
Separately, Stifel Nicolaus increased their price target on AVX Corporation from $15.00 to $16.00 and gave the stock a “hold” rating in a report on Monday, May 1st.
AVX Corporation (NYSE:AVX) traded up 0.53% during mid-day trading on Thursday, reaching $17.13. 14,550 shares of the company’s stock traded hands. The stock has a market cap of $2.88 billion, a P/E ratio of 22.84 and a beta of 0.79. The firm has a 50-day moving average price of $16.42 and a 200-day moving average price of $16.20. AVX Corporation has a 1-year low of $13.08 and a 1-year high of $17.72.
AVX Corporation (NYSE:AVX) last released its quarterly earnings data on Friday, April 28th. The electronics maker reported $0.20 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.20. AVX Corporation had a return on equity of 5.77% and a net margin of 9.45%. The company had revenue of $329.60 million during the quarter, compared to the consensus estimate of $328.60 million. During the same quarter in the prior year, the firm posted $0.19 earnings per share. The firm’s revenue was up 8.6% compared to the same quarter last year. Equities research analysts anticipate that AVX Corporation will post $0.77 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, June 30th. Shareholders of record on Friday, June 16th were issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 2.58%. The ex-dividend date was Wednesday, June 14th. AVX Corporation’s payout ratio is 59.46%.
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Institutional investors have recently bought and sold shares of the company. Wells Fargo & Company MN boosted its position in AVX Corporation by 6.2% in the first quarter. Wells Fargo & Company MN now owns 1,352,668 shares of the electronics maker’s stock worth $22,156,000 after buying an additional 78,434 shares during the last quarter. Rational Advisors LLC acquired a new position in AVX Corporation during the first quarter worth about $311,000. Bank of New York Mellon Corp boosted its position in AVX Corporation by 3.5% in the first quarter. Bank of New York Mellon Corp now owns 1,039,219 shares of the electronics maker’s stock worth $17,023,000 after buying an additional 34,987 shares during the last quarter. Van ECK Associates Corp acquired a new position in AVX Corporation during the first quarter worth about $749,000. Finally, Citadel Advisors LLC boosted its position in AVX Corporation by 64.5% in the first quarter. Citadel Advisors LLC now owns 191,059 shares of the electronics maker’s stock worth $3,130,000 after buying an additional 74,903 shares during the last quarter. Hedge funds and other institutional investors own 24.57% of the company’s stock.
About AVX Corporation
AVX Corporation (AVX) is a manufacturer and supplier and reseller of a line of passive electronic components, interconnect devices and related products. AVX operates in three segments: Passive Components, Kyocera Electronic Devices (KED Resale) and Interconnect. The Passive Components segment consists of surface mount and leaded ceramic capacitors, surface mount and leaded tantalum capacitors, surface mount and leaded film capacitors, thick and thin film packages of multiple passive integrated components, thermistors, inductors and resistive products.
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