Avnet, Inc. (NASDAQ:AVT) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Avnet, Inc. (NASDAQ:AVT) have been assigned an average rating of “Moderate Buy” from the six ratings firms that are presently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, one has given a buy rating and two have issued a strong buy rating on the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $89.00.

Several analysts recently issued reports on the company. Raymond James Financial reissued a “strong-buy” rating and issued a $95.00 price target on shares of Avnet in a report on Thursday, April 30th. Zacks Research raised Avnet from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 14th. Truist Financial lifted their target price on Avnet to $95.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Wells Fargo & Company lifted their target price on Avnet from $60.00 to $70.00 and gave the company an “underweight” rating in a research note on Thursday, April 30th. Finally, Bank of America raised Avnet from an “underperform” rating to a “neutral” rating and lifted their target price for the company from $66.00 to $96.00 in a research note on Wednesday, May 13th.

Insiders Place Their Bets

In other Avnet news, CEO Philip R. Gallagher sold 23,920 shares of Avnet stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $82.92, for a total transaction of $1,983,446.40. Following the sale, the chief executive officer owned 145,003 shares of the company’s stock, valued at $12,023,648.76. The trade was a 14.16% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.90% of the stock is owned by insiders.

Institutional Trading of Avnet

Several hedge funds have recently added to or reduced their stakes in AVT. Jefferies Financial Group Inc. bought a new stake in shares of Avnet in the 4th quarter worth $602,000. Jupiter Asset Management Ltd. bought a new stake in shares of Avnet in the 4th quarter worth $4,865,000. GSA Capital Partners LLP raised its stake in shares of Avnet by 255.2% in the 4th quarter. GSA Capital Partners LLP now owns 41,830 shares of the company’s stock worth $2,011,000 after buying an additional 30,052 shares in the last quarter. Citigroup Inc. raised its stake in shares of Avnet by 27.1% in the 3rd quarter. Citigroup Inc. now owns 103,509 shares of the company’s stock worth $5,411,000 after buying an additional 22,063 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of Avnet by 22.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 576,725 shares of the company’s stock worth $30,151,000 after buying an additional 106,160 shares in the last quarter. Institutional investors own 95.78% of the company’s stock.

Avnet Trading Up 1.5%

Shares of NASDAQ AVT opened at $87.63 on Tuesday. The company has a market cap of $7.19 billion, a price-to-earnings ratio of 34.10, a price-to-earnings-growth ratio of 0.39 and a beta of 1.08. Avnet has a 12-month low of $44.25 and a 12-month high of $95.26. The company has a current ratio of 2.01, a quick ratio of 1.05 and a debt-to-equity ratio of 0.50. The stock’s 50 day simple moving average is $85.20 and its 200 day simple moving average is $67.89.

Avnet (NASDAQ:AVT) last announced its quarterly earnings results on Wednesday, April 29th. The company reported $1.48 earnings per share (EPS) for the quarter, topping 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 return on equity of 7.07% and a net margin of 0.86%.The business’s revenue was up 34.0% on a year-over-year basis. During the same quarter last year, the business posted $0.84 EPS. Avnet has set its Q4 2026 guidance at 1.700-1.800 EPS. Equities research analysts expect that Avnet will post 5.12 EPS for the current year.

Avnet Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Wednesday, June 3rd were paid a dividend of $0.35 per share. The ex-dividend date of this dividend was Wednesday, June 3rd. This represents a $1.40 annualized dividend and a yield of 1.6%. Avnet’s payout ratio is presently 54.47%.

About Avnet

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.