Avnet (NASDAQ:AVT) Rating Increased to Hold at Zacks Research

Zacks Research upgraded shares of Avnet (NASDAQ:AVT) from a strong sell rating to a hold rating in a research note issued to investors on Monday,Zacks.com reports. Zacks Research also issued estimates for Avnet’s Q2 2026 earnings at $1.01 EPS, Q3 2026 earnings at $1.32 EPS, Q4 2026 earnings at $1.40 EPS, FY2026 earnings at $4.53 EPS, Q1 2027 earnings at $1.42 EPS, Q2 2027 earnings at $1.60 EPS, Q3 2027 earnings at $1.61 EPS, FY2027 earnings at $6.50 EPS, Q1 2028 earnings at $1.75 EPS and FY2028 earnings at $7.50 EPS.

Several other analysts have also issued reports on the stock. Truist Financial increased their price target on shares of Avnet from $50.00 to $54.00 and gave the stock a “hold” rating in a research report on Thursday, August 7th. Bank of America increased their target price on shares of Avnet from $48.00 to $50.00 and gave the stock an “underperform” rating in a report on Monday, August 11th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Avnet in a report on Wednesday, October 8th. Three research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Reduce” and a consensus price target of $49.00.

Avnet Stock Performance

NASDAQ AVT opened at $52.15 on Monday. The company has a current ratio of 2.43, a quick ratio of 1.16 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $4.34 billion, a price-to-earnings ratio of 19.10, a P/E/G ratio of 0.39 and a beta of 1.06. The firm’s 50 day simple moving average is $52.98 and its 200 day simple moving average is $51.83. Avnet has a 1 year low of $39.22 and a 1 year high of $59.24.

Avnet (NASDAQ:AVT) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.09. The business had revenue of $5.62 billion for the quarter, compared to analyst estimates of $5.36 billion. Avnet had a net margin of 1.08% and a return on equity of 6.07%. The firm’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same quarter last year, the business posted $1.22 EPS. As a group, research analysts expect that Avnet will post 3.41 earnings per share for the current fiscal year.

Avnet Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 26th. Shareholders of record on Wednesday, September 17th were issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 2.7%. The ex-dividend date was Wednesday, September 17th. This is a positive change from Avnet’s previous quarterly dividend of $0.33. Avnet’s dividend payout ratio (DPR) is 51.28%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Pzena Investment Management LLC raised its holdings in Avnet by 2.9% during the 2nd quarter. Pzena Investment Management LLC now owns 7,341,299 shares of the company’s stock worth $389,676,000 after purchasing an additional 209,003 shares during the last quarter. American Century Companies Inc. grew its position in shares of Avnet by 10.8% during the 1st quarter. American Century Companies Inc. now owns 3,880,865 shares of the company’s stock worth $186,631,000 after buying an additional 378,440 shares during the period. LSV Asset Management grew its position in shares of Avnet by 2.5% during the 2nd quarter. LSV Asset Management now owns 2,667,923 shares of the company’s stock worth $141,613,000 after buying an additional 66,191 shares during the period. Hotchkis & Wiley Capital Management LLC grew its position in shares of Avnet by 5.5% during the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 2,581,227 shares of the company’s stock worth $124,131,000 after buying an additional 134,372 shares during the period. Finally, AQR Capital Management LLC grew its position in shares of Avnet by 25.9% during the 2nd quarter. AQR Capital Management LLC now owns 1,680,538 shares of the company’s stock worth $88,312,000 after buying an additional 345,721 shares during the period. Institutional investors own 95.78% of the company’s stock.

About Avnet

Avnet, Inc, distributes electronic component technology. The company operates through two segments, Electronic Components and Farnell. The Electronic Components segment markets, sells, and distributes semiconductors; interconnect, passive, and electromechanical components; and other integrated components from electronic component manufacturers.