AVX Corporation (NYSE:AVX) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “sell” rating in a research note issued to investors on Monday.

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 analysts have also recently issued reports on AVX. Stifel Nicolaus restated a “hold” rating and issued a $17.00 target price on shares of AVX Corporation in a report on Friday, July 28th. BidaskClub upgraded AVX Corporation from a “sell” rating to a “hold” rating in a report on Thursday, August 3rd.

Shares of AVX Corporation (NYSE AVX) traded down 1.31% during midday trading on Monday, reaching $18.12. 158,090 shares of the company’s stock traded hands. The firm has a market capitalization of $3.05 billion, a PE ratio of 23.84 and a beta of 0.84. AVX Corporation has a one year low of $13.70 and a one year high of $20.22. The stock’s 50-day moving average price is $18.51 and its 200 day moving average price is $17.28.

AVX Corporation (NYSE:AVX) last issued its quarterly earnings results on Wednesday, October 25th. The electronics maker reported $0.21 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.20 by $0.01. AVX Corporation had a return on equity of 6.13% and a net margin of 10.02%. The firm had revenue of $352.70 million during the quarter, compared to analysts’ expectations of $348.30 million. During the same period in the previous year, the business earned $0.16 earnings per share. The firm’s revenue for the quarter was up 7.7% on a year-over-year basis. On average, equities research analysts expect that AVX Corporation will post $0.74 earnings per share for the current fiscal year.

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A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Aperio Group LLC lifted its stake in AVX Corporation by 6.2% during the 3rd quarter. Aperio Group LLC now owns 52,966 shares of the electronics maker’s stock worth $966,000 after acquiring an additional 3,075 shares in the last quarter. Martingale Asset Management L P lifted its stake in AVX Corporation by 0.4% during the 2nd quarter. Martingale Asset Management L P now owns 185,217 shares of the electronics maker’s stock worth $3,027,000 after acquiring an additional 800 shares in the last quarter. Russell Investments Group Ltd. lifted its stake in AVX Corporation by 46.7% during the 2nd quarter. Russell Investments Group Ltd. now owns 129,718 shares of the electronics maker’s stock worth $2,120,000 after acquiring an additional 41,278 shares in the last quarter. AQR Capital Management LLC lifted its stake in AVX Corporation by 62.7% during the 1st quarter. AQR Capital Management LLC now owns 190,527 shares of the electronics maker’s stock worth $3,121,000 after acquiring an additional 73,420 shares in the last quarter. Finally, State Street Corp lifted its stake in AVX Corporation by 3.3% during the 1st quarter. State Street Corp now owns 948,875 shares of the electronics maker’s stock worth $15,545,000 after acquiring an additional 30,198 shares in the last quarter. 24.38% of the stock is currently owned by hedge funds and other institutional investors.

AVX Corporation Company Profile

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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