Zacks Investment Research lowered shares of AVX Corporation (NYSE:AVX) from a buy rating to a hold rating in a research report sent to investors on Tuesday morning.
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. “
Several other research analysts also recently issued reports on AVX. BidaskClub downgraded AVX Corporation from a hold rating to a sell rating in a research note on Saturday, August 12th. Stifel Nicolaus reaffirmed a hold rating and set a $17.00 price target on shares of AVX Corporation in a research note on Friday, July 28th.
Shares of AVX Corporation (NYSE:AVX) opened at 17.20 on Tuesday. AVX Corporation has a 12-month low of $13.09 and a 12-month high of $18.44. The stock has a market cap of $2.90 billion, a price-to-earnings ratio of 22.63 and a beta of 0.81. The stock’s 50 day moving average is $17.34 and its 200-day moving average is $16.65.
AVX Corporation (NYSE:AVX) last released its quarterly earnings results on Wednesday, July 26th. The electronics maker reported $0.19 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.19. The business had revenue of $331.35 million during the quarter, compared to the consensus estimate of $328.00 million. AVX Corporation had a return on equity of 5.69% and a net margin of 9.46%. The business’s revenue was up 5.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.19 EPS. Equities analysts anticipate that AVX Corporation will post $0.76 EPS for the current fiscal year.
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The company also recently announced a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Wednesday, August 16th were paid a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 2.56%. The ex-dividend date was Monday, August 14th. AVX Corporation’s payout ratio is 58.67%.
A number of hedge funds have recently made changes to their positions in AVX. Teachers Advisors LLC raised its stake in AVX Corporation by 1.3% in the 4th quarter. Teachers Advisors LLC now owns 90,678 shares of the electronics maker’s stock valued at $1,417,000 after purchasing an additional 1,176 shares during the last quarter. Wells Fargo & Company MN raised its stake in AVX Corporation by 6.2% in the 1st quarter. Wells Fargo & Company MN now owns 1,352,668 shares of the electronics maker’s stock valued at $22,156,000 after purchasing an additional 78,434 shares during the last quarter. First Trust Advisors LP raised its stake in AVX Corporation by 16.1% in the 1st quarter. First Trust Advisors LP now owns 316,373 shares of the electronics maker’s stock valued at $5,182,000 after purchasing an additional 43,871 shares during the last quarter. American Century Companies Inc. acquired a new position in AVX Corporation in the 1st quarter valued at about $4,772,000. Finally, Bank of New York Mellon Corp raised its stake in AVX Corporation by 3.5% in the 1st quarter. Bank of New York Mellon Corp now owns 1,039,219 shares of the electronics maker’s stock valued at $17,023,000 after purchasing an additional 34,987 shares during the last quarter. 24.44% of the stock is owned by hedge funds and other institutional investors.
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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