AVX (AVX) Raised to Buy at Zacks Investment Research

AVX (NYSE:AVX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Thursday. The firm presently has a $19.00 target price on the electronics maker’s stock. Zacks Investment Research‘s target price points to a potential upside of 12.16% from the stock’s previous close.

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 equities research analysts have also recently commented on AVX. Stifel Nicolaus reissued a “hold” rating and issued a $17.00 target price on shares of AVX in a research note on Tuesday, October 17th. ValuEngine raised AVX from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st.

AVX (NYSE:AVX) traded up $0.04 during midday trading on Thursday, hitting $16.94. The stock had a trading volume of 327,334 shares, compared to its average volume of 228,810. The firm has a market cap of $2,852.09, a PE ratio of 338.87 and a beta of 0.83. AVX has a one year low of $15.38 and a one year high of $20.22.

AVX (NYSE:AVX) last released its earnings results on Thursday, January 25th. The electronics maker reported $0.22 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.04. The company had revenue of $431.80 million during the quarter, compared to analysts’ expectations of $421.60 million. AVX had a return on equity of 6.07% and a net margin of 0.48%. The business’s revenue for the quarter was up 26.7% on a year-over-year basis. During the same period last year, the firm earned $0.21 EPS. equities analysts predict that AVX will post 0.8 earnings per share for the current year.

In related news, insider Zahir Dhanani purchased 300,000 shares of AVX stock in a transaction dated Thursday, January 18th. The shares were acquired at an average cost of $0.09 per share, for a total transaction of $27,000.00. Insiders bought a total of 820,000 shares of company stock worth $91,480 over the last 90 days. 0.50% of the stock is owned by corporate insiders.

Several large investors have recently bought and sold shares of the company. Aperio Group LLC boosted its position in shares of AVX by 6.2% in the 3rd quarter. Aperio Group LLC now owns 52,966 shares of the electronics maker’s stock worth $966,000 after purchasing an additional 3,075 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in AVX by 6.5% during the fourth quarter. Victory Capital Management Inc. now owns 53,534 shares of the electronics maker’s stock worth $926,000 after acquiring an additional 3,248 shares in the last quarter. Systematic Financial Management LP lifted its holdings in AVX by 14.5% during the fourth quarter. Systematic Financial Management LP now owns 76,025 shares of the electronics maker’s stock worth $1,315,000 after acquiring an additional 9,610 shares in the last quarter. Foundry Partners LLC lifted its holdings in AVX by 3.3% during the fourth quarter. Foundry Partners LLC now owns 317,163 shares of the electronics maker’s stock worth $5,487,000 after acquiring an additional 10,108 shares in the last quarter. Finally, SG Americas Securities LLC bought a new position in AVX during the third quarter worth about $226,000. Institutional investors and hedge funds own 24.63% of the company’s stock.

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About AVX

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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