Avnet (NASDAQ:AVT – Get Free Report) was downgraded by stock analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Monday, Zacks reports.
Several other research analysts have also commented on AVT. Truist Financial increased their price target on shares of Avnet from $95.00 to $110.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Weiss Ratings upgraded shares of Avnet from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, October 9th. Wall Street Zen raised shares of Avnet from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Finally, Wells Fargo & Company upped their price objective on shares of Avnet from $70.00 to $72.00 and gave the stock an “underweight” rating in a report on Monday, July 20th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $93.25.
Get Our Latest Stock Analysis on AVT
Avnet Trading Down 0.9%
NASDAQ:AVT opened at $91.06 on Monday. The company has a market capitalization of $7.49 billion, a P/E ratio of 22.82, a P/E/G ratio of 0.28 and a beta of 1.06. The stock’s 50 day moving average price is $95.22 and its 200 day moving average price is $87.96. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.97 and a current ratio of 1.78. Avnet has a 52 week low of $44.25 and a 52 week high of $108.63.
Avnet (NASDAQ:AVT – Get Free Report) last posted its earnings results on Wednesday, August 5th. The company reported $2.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.80 by $0.48. The firm had revenue of $8.30 billion during the quarter, compared to analysts’ expectations of $7.56 billion. Avnet had a net margin of 1.21% and a return on equity of 9.57%. The company’s revenue was up 47.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.81 earnings per share. Avnet has set its Q1 2027 guidance at 2.800-2.900 EPS. On average, research analysts forecast that Avnet will post 10.45 EPS for the current fiscal year.
Insider Activity at Avnet
In other Avnet news, CEO Philip Gallagher sold 51,900 shares of the stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $98.46, for a total transaction of $5,110,074.00. Following the transaction, the chief executive officer owned 168,923 shares in the company, valued at $16,632,158.58. This trade represents a 23.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Michael Ryan Mccoy sold 32,052 shares of the stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $91.10, for a total value of $2,919,937.20. Following the transaction, the senior vice president owned 76,674 shares in the company, valued at approximately $6,985,001.40. This trade represents a 29.48% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 2.00% of the stock is currently owned by insiders.
Institutional Trading of Avnet
Institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. bought a new stake in shares of Avnet during the 2nd quarter worth $916,146,000. Pzena Investment Management LLC bought a new position in Avnet in the 2nd quarter worth $277,153,000. Bank of America Corp DE bought a new position in Avnet in the 2nd quarter worth $91,844,000. Bank of New York Mellon Corp bought a new position in Avnet in the 2nd quarter worth $74,897,000. Finally, Wishbone Management LP acquired a new position in Avnet during the 2nd quarter worth $58,177,100. 95.78% of the stock is currently owned by institutional investors and hedge funds.
Avnet Company Profile
Avnet, Inc is a global technology distributor that helps manufacturers and design engineers source electronic components and develop products. The company supplies semiconductors, embedded processors, memory, connectivity products, sensors, power-management components and other electronic parts used in industrial, automotive, communications, computing, aerospace and defense applications.
In addition to component distribution, Avnet provides engineering and design services, supply-chain management, product customization, logistics, and technical support.
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