AVX (AVX) Upgraded 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 Wednesday. The brokerage presently has a $19.00 price target on the electronics maker’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 11.83% from the stock’s current price.

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. “

AVX has been the subject of several other reports. ValuEngine upgraded AVX from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Stifel Nicolaus restated a “hold” rating and set a $17.00 target price on shares of AVX in a research report on Tuesday, October 17th.

AVX (NYSE:AVX) traded up $0.13 during trading on Wednesday, hitting $16.99. The stock had a trading volume of 149,088 shares, compared to its average volume of 218,674. The firm has a market cap of $2,855.45, a price-to-earnings ratio of 339.87 and a beta of 0.83. AVX has a 52 week low of $15.38 and a 52 week high of $20.22.

AVX (NYSE:AVX) last posted its earnings results on Thursday, January 25th. The electronics maker reported $0.22 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.04. The company had revenue of $431.80 million during the quarter, compared to analyst estimates of $421.60 million. AVX had a return on equity of 6.12% and a net margin of 0.48%. The company’s revenue for the quarter was up 26.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.21 EPS. sell-side analysts anticipate that AVX will post 0.8 earnings per share for the current fiscal year.

In related news, insider Zahir Dhanani bought 300,000 shares of the firm’s stock in a transaction dated Thursday, January 18th. The stock was bought at an average cost of $0.09 per share, for a total transaction of $27,000.00. Insiders have bought a total of 820,000 shares of company stock valued at $91,480 over the last 90 days. Corporate insiders own 0.50% of the company’s stock.

Several large investors have recently added to or reduced their stakes in AVX. SG Americas Securities LLC bought a new position in shares of AVX during the 3rd quarter valued at about $226,000. Capital Fund Management S.A. bought a new position in shares of AVX during the 4th quarter valued at about $256,000. Teacher Retirement System of Texas bought a new position in shares of AVX during the 4th quarter valued at about $302,000. Victory Capital Management Inc. lifted its holdings in shares of AVX by 6.5% during the 4th quarter. Victory Capital Management Inc. now owns 53,534 shares of the electronics maker’s stock valued at $926,000 after purchasing an additional 3,248 shares in the last quarter. Finally, Aperio Group LLC lifted its holdings in shares of AVX by 6.2% during the 3rd quarter. Aperio Group LLC now owns 52,966 shares of the electronics maker’s stock valued at $966,000 after purchasing an additional 3,075 shares in the last quarter. Institutional investors and hedge funds own 24.38% 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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