Avnet (NASDAQ:AVT) Upgraded at Wall Street Zen

Avnet (NASDAQ:AVT) was upgraded by investment analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research report issued on Saturday.

AVT has been the topic of a number of other reports. Raymond James Financial reissued a “strong-buy” rating and set a $95.00 price target on shares of Avnet in a report on Thursday, April 30th. Wells Fargo & Company upped their price target on Avnet from $70.00 to $72.00 and gave the stock an “underweight” rating in a research note on Monday. Zacks Research cut shares of Avnet from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 30th. Truist Financial upped their target price on shares of Avnet to $95.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. Finally, Bank of America upgraded shares of Avnet from an “underperform” rating to a “neutral” rating and boosted their price target for the stock from $66.00 to $96.00 in a research note on Wednesday, May 13th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $89.50.

Avnet Price Performance

Shares of Avnet stock opened at $89.42 on Friday. Avnet has a one year low of $44.25 and a one year high of $95.26. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.05 and a current ratio of 2.01. The stock has a market cap of $7.33 billion, a P/E ratio of 34.79, a P/E/G ratio of 0.28 and a beta of 1.09. The stock’s fifty day moving average is $87.31 and its 200 day moving average is $72.65.

Avnet (NASDAQ:AVT) last issued its quarterly earnings results on Wednesday, April 29th. The company reported $1.48 earnings per share for the quarter, beating the consensus estimate of $1.33 by $0.15. The business had revenue of $7.12 billion for the quarter, compared to the consensus estimate of $6.45 billion. Avnet had a net margin of 0.86% and a return on equity of 7.07%. The company’s revenue for the quarter was up 34.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.84 earnings per share. Avnet has set its Q4 2026 guidance at 1.700-1.800 EPS. Sell-side analysts anticipate that Avnet will post 5.12 earnings per share for the current year.

Insider Activity

In related news, CEO Philip R. Gallagher sold 23,920 shares of the business’s stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $82.92, for a total transaction of $1,983,446.40. Following the completion of the transaction, the chief executive officer owned 145,003 shares in the company, valued at $12,023,648.76. The trade was a 14.16% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP increased its holdings in Avnet by 0.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 5,885,636 shares of the company’s stock worth $362,655,000 after buying an additional 22,137 shares during the period. AQR Capital Management LLC increased its stake in shares of Avnet by 30.7% in the fourth quarter. AQR Capital Management LLC now owns 2,961,608 shares of the company’s stock worth $142,394,000 after acquiring an additional 695,929 shares during the period. LSV Asset Management lifted its position in Avnet by 7.6% during the fourth quarter. LSV Asset Management now owns 2,811,171 shares of the company’s stock valued at $135,161,000 after purchasing an additional 197,400 shares during the period. Hotchkis & Wiley Capital Management LLC boosted its holdings in Avnet by 5.3% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 2,011,676 shares of the company’s stock valued at $105,170,000 after purchasing an additional 101,873 shares during the last quarter. Finally, Morgan Stanley raised its stake in shares of Avnet by 16.2% during the 4th quarter. Morgan Stanley now owns 1,524,945 shares of the company’s stock valued at $73,319,000 after buying an additional 212,573 shares during the last quarter. 95.78% of the stock is currently owned by hedge funds and other institutional investors.

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.