Avnet (NASDAQ:AVT) Rating Increased to Buy at Wall Street Zen

Avnet (NASDAQ:AVT) was upgraded by research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday.

Several other analysts have also commented on the company. Wells Fargo & Company boosted their price target on Avnet from $43.00 to $48.00 and gave the company an “underweight” rating in a research note on Thursday. Weiss Ratings reissued a “hold (c+)” rating on shares of Avnet in a research note on Wednesday, October 8th. Truist Financial increased their price objective on shares of Avnet from $55.00 to $65.00 and gave the company a “hold” rating in a report on Thursday. Finally, Zacks Research upgraded Avnet from a “strong sell” rating to a “hold” rating in a report on Monday, October 20th. Three research analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Reduce” and a consensus price target of $54.33.

Avnet Trading Down 0.6%

Shares of AVT stock opened at $62.39 on Friday. The company has a current ratio of 2.07, a quick ratio of 1.12 and a debt-to-equity ratio of 0.50. The firm’s fifty day simple moving average is $50.08 and its 200 day simple moving average is $51.22. Avnet has a 1 year low of $39.22 and a 1 year high of $63.10. The firm has a market capitalization of $5.07 billion, a P/E ratio of 25.57, a price-to-earnings-growth ratio of 0.49 and a beta of 0.92.

Avnet (NASDAQ:AVT) last issued its quarterly earnings results on Wednesday, January 28th. The company reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.10. The firm had revenue of $6.32 billion for the quarter, compared to analyst estimates of $6.03 billion. Avnet had a return on equity of 6.08% and a net margin of 0.90%.The company’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.87 earnings per share. Avnet has set its Q3 2026 guidance at 1.200-1.300 EPS. As a group, sell-side analysts predict that Avnet will post 3.41 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of AVT. Royal Bank of Canada raised its position in Avnet by 3.0% in the 1st quarter. Royal Bank of Canada now owns 71,697 shares of the company’s stock valued at $3,447,000 after buying an additional 2,101 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Avnet by 16.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 231,814 shares of the company’s stock worth $11,148,000 after acquiring an additional 31,919 shares in the last quarter. United Services Automobile Association acquired a new stake in shares of Avnet in the first quarter valued at approximately $267,000. Empowered Funds LLC lifted its position in shares of Avnet by 9.3% in the first quarter. Empowered Funds LLC now owns 8,142 shares of the company’s stock worth $392,000 after purchasing an additional 696 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Avnet by 4.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 353,757 shares of the company’s stock worth $17,012,000 after purchasing an additional 16,443 shares in the last quarter. 95.78% of the stock is owned by institutional investors and hedge funds.

Avnet Company Profile

Avnet, Inc (NASDAQ: AVT) is a global technology distributor and solutions provider specializing in the sourcing, design, and supply chain management of electronic components and embedded systems. The company offers a broad portfolio of semiconductors, interconnect, passive and electromechanical components, as well as embedded hardware and software, cloud solutions, and Internet of Things (IoT) services. Avnet’s offerings aim to support customers through every stage of the product lifecycle, from initial prototype and design to production and end-of-life management.

Founded in 1921 by Charles Avnet, the company has evolved from a regional radio parts supplier into a multinational enterprise.