Avnet (NASDAQ:AVT) Rating Increased to Strong-Buy at Zacks Research

Avnet (NASDAQ:AVT) was upgraded by investment analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued on Tuesday,Zacks.com reports.

A number of other analysts have also recently weighed in on AVT. Weiss Ratings cut Avnet from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, March 19th. Wells Fargo & Company upped their price target on Avnet from $43.00 to $48.00 and gave the company an “underweight” rating in a research report on Thursday, January 29th. Wall Street Zen upgraded Avnet from a “hold” rating to a “buy” rating in a research report on Saturday, January 31st. Finally, Truist Financial upgraded Avnet from a “hold” rating to a “buy” rating and upped their price target for the company from $65.00 to $80.00 in a research report on Monday. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $59.33.

Avnet Stock Performance

Shares of NASDAQ AVT opened at $70.22 on Tuesday. The business has a fifty day simple moving average of $63.84 and a 200 day simple moving average of $55.01. The company has a current ratio of 2.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $5.75 billion, a price-to-earnings ratio of 28.78, a PEG ratio of 0.53 and a beta of 0.90. Avnet has a one year low of $44.25 and a one year high of $73.94.

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

Hedge Funds Weigh In On Avnet

A number of institutional investors and hedge funds have recently bought and sold shares of AVT. Norges Bank acquired a new position in Avnet in the fourth quarter worth $62,393,000. AQR Capital Management LLC boosted its stake in Avnet by 30.7% in the fourth quarter. AQR Capital Management LLC now owns 2,961,608 shares of the company’s stock worth $142,394,000 after purchasing an additional 695,929 shares in the last quarter. Jain Global LLC acquired a new position in Avnet in the fourth quarter worth $18,873,000. Loews Corp boosted its stake in Avnet by 258.3% in the fourth quarter. Loews Corp now owns 430,000 shares of the company’s stock worth $20,674,000 after purchasing an additional 310,000 shares in the last quarter. Finally, Millennium Management LLC boosted its stake in Avnet by 75.3% in the fourth quarter. Millennium Management LLC now owns 654,695 shares of the company’s stock worth $31,478,000 after purchasing an additional 281,273 shares in the last quarter. Institutional investors and hedge funds own 95.78% of the company’s stock.

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.