Avnet (NASDAQ:AVT) Upgraded at Truist Financial

Truist Financial upgraded shares of Avnet (NASDAQ:AVT) from a hold rating to a buy rating in a report released on Monday, MarketBeat.com reports. Truist Financial currently has $80.00 price target on the stock, up from their prior price target of $65.00.

Several other research analysts have also commented on AVT. Weiss Ratings lowered shares of Avnet from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, March 19th. Wells Fargo & Company lifted their price target on shares of Avnet from $43.00 to $48.00 and gave the company an “underweight” rating in a report on Thursday, January 29th. Finally, Wall Street Zen raised shares of Avnet from a “hold” rating to a “buy” rating in a report on Saturday, January 31st. One analyst has rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Reduce” and a consensus target price of $59.33.

Avnet Price Performance

Shares of AVT stock opened at $70.22 on Monday. The firm has a fifty day moving average of $63.84 and a two-hundred day moving average of $55.01. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.07 and a quick ratio of 1.07. Avnet has a 1-year low of $44.25 and a 1-year high of $73.94. The firm has a market cap of $5.75 billion, a P/E ratio of 28.78, a P/E/G ratio of 0.53 and a beta of 0.90.

Avnet (NASDAQ:AVT) last posted its quarterly earnings results on Wednesday, January 28th. The company reported $1.05 EPS for the quarter, beating the consensus estimate of $0.95 by $0.10. Avnet had a net margin of 0.90% and a return on equity of 6.08%. The business had revenue of $6.32 billion during the quarter, compared to analyst estimates of $6.03 billion. During the same period in the previous year, the business posted $0.87 EPS. The company’s quarterly revenue was up 11.6% on a year-over-year basis. Avnet has set its Q3 2026 guidance at 1.200-1.300 EPS. As a group, research analysts anticipate that Avnet will post 3.41 earnings per share for the current fiscal year.

Avnet Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 18th. Investors of record on Wednesday, March 4th were given a $0.35 dividend. The ex-dividend date was Wednesday, March 4th. This represents a $1.40 annualized dividend and a yield of 2.0%. Avnet’s dividend payout ratio (DPR) is currently 57.38%.

Institutional Trading of Avnet

Several hedge funds have recently bought and sold shares of the company. Nations Financial Group Inc. IA ADV lifted its position in Avnet by 1.6% in the 1st quarter. Nations Financial Group Inc. IA ADV now owns 10,896 shares of the company’s stock valued at $671,000 after purchasing an additional 176 shares during the last quarter. Quadrant Capital Group LLC lifted its position in Avnet by 2.1% in the 4th quarter. Quadrant Capital Group LLC now owns 8,778 shares of the company’s stock valued at $422,000 after purchasing an additional 184 shares during the last quarter. GAMMA Investing LLC lifted its position in Avnet by 6.9% in the 3rd quarter. GAMMA Investing LLC now owns 2,984 shares of the company’s stock valued at $156,000 after purchasing an additional 192 shares during the last quarter. World Investment Advisors lifted its position in Avnet by 2.3% in the 4th quarter. World Investment Advisors now owns 9,873 shares of the company’s stock valued at $471,000 after purchasing an additional 219 shares during the last quarter. Finally, Deutsche Bank AG lifted its position in Avnet by 0.8% in the 4th quarter. Deutsche Bank AG now owns 31,122 shares of the company’s stock valued at $1,496,000 after purchasing an additional 234 shares during the last quarter. 95.78% of the stock is currently owned by institutional investors.

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.