Avnet, Inc. (NYSE:AVT) has earned an average recommendation of “Hold” from the thirteen research firms that are covering the firm, MarketBeat reports. Four research analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation and two have given a buy recommendation to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $40.29.

Several research firms recently weighed in on AVT. ValuEngine upgraded Avnet from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. TheStreet downgraded Avnet from a “b” rating to a “c” rating in a research report on Thursday, October 26th. Cross Research upgraded Avnet from a “sell” rating to a “hold” rating in a research report on Friday, October 27th. Citigroup increased their target price on Avnet from $31.00 to $34.00 and gave the stock a “sell” rating in a research report on Friday, October 27th. Finally, Stifel Nicolaus increased their target price on Avnet from $40.00 to $42.00 and gave the stock a “hold” rating in a research report on Thursday, October 26th.

In other news, CEO Amelio J. William acquired 3,000 shares of the business’s stock in a transaction dated Friday, December 8th. The shares were bought at an average cost of $39.16 per share, for a total transaction of $117,480.00. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 1.65% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the company. Alpha Windward LLC purchased a new position in shares of Avnet in the 3rd quarter worth about $507,000. Engineers Gate Manager LP acquired a new stake in shares of Avnet in the second quarter valued at about $4,773,000. Diamond Hill Capital Management Inc. grew its stake in shares of Avnet by 77.0% in the third quarter. Diamond Hill Capital Management Inc. now owns 1,142,818 shares of the technology company’s stock valued at $44,913,000 after buying an additional 497,203 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of Avnet by 1.1% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 373,313 shares of the technology company’s stock valued at $14,514,000 after buying an additional 4,083 shares in the last quarter. Finally, Cipher Capital LP grew its stake in shares of Avnet by 68.9% in the second quarter. Cipher Capital LP now owns 33,226 shares of the technology company’s stock valued at $1,292,000 after buying an additional 13,552 shares in the last quarter. Institutional investors own 96.03% of the company’s stock.

Shares of Avnet (NYSE AVT) traded down $0.05 during trading hours on Thursday, hitting $39.58. The stock had a trading volume of 736,900 shares, compared to its average volume of 1,099,950. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.78 and a quick ratio of 1.63. Avnet has a twelve month low of $35.67 and a twelve month high of $49.19. The stock has a market capitalization of $4,792.35, a P/E ratio of 12.19, a P/E/G ratio of 1.30 and a beta of 1.09.

Avnet (NYSE:AVT) last issued its quarterly earnings data on Thursday, October 26th. The technology company reported $0.76 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.71 by $0.05. Avnet had a return on equity of 8.20% and a net margin of 2.86%. The business had revenue of $4.66 billion for the quarter, compared to the consensus estimate of $4.34 billion. During the same period in the prior year, the business earned $0.91 earnings per share. The business’s revenue was up 13.2% on a year-over-year basis. sell-side analysts forecast that Avnet will post 3.36 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 19th. Stockholders of record on Wednesday, December 6th will be issued a $0.18 dividend. The ex-dividend date of this dividend is Tuesday, December 5th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.82%. Avnet’s dividend payout ratio (DPR) is 17.96%.

Avnet declared that its board has approved a share repurchase program on Friday, November 10th that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the technology company to repurchase shares of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors believes its stock is undervalued.

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About Avnet

Avnet, Inc is a distributor of electronic components, enterprise computer, networking and storage products and software, and embedded subsystems. The Company operates through Electronics Marketing (EM) segment. The EM segment markets and sells semiconductors; interconnect, passive and electromechanical devices (IP&E), and embedded products to a customer base serving various end markets.

Analyst Recommendations for Avnet (NYSE:AVT)

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