Avnet, Inc. (NASDAQ:AVT) Receives Consensus Rating of “Reduce” from Analysts

Shares of Avnet, Inc. (NASDAQ:AVT) have earned an average recommendation of “Reduce” from the five brokerages that are currently covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation and three have assigned a hold recommendation to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $54.3333.

AVT has been the subject of a number of analyst reports. Weiss Ratings cut Avnet from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, February 17th. Wall Street Zen raised Avnet from a “hold” rating to a “buy” rating in a research note on Saturday, January 31st. Wells Fargo & Company upped their target price on Avnet from $43.00 to $48.00 and gave the stock an “underweight” rating in a research report on Thursday, January 29th. Finally, Truist Financial increased their price target on Avnet from $55.00 to $65.00 and gave the company a “hold” rating in a report on Thursday, January 29th.

Avnet Price Performance

NASDAQ AVT opened at $65.84 on Wednesday. The company has a quick ratio of 1.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.50. The stock has a market capitalization of $5.39 billion, a PE ratio of 26.98, a price-to-earnings-growth ratio of 0.49 and a beta of 0.91. Avnet has a 12-month low of $39.22 and a 12-month high of $68.29. The company has a 50 day moving average price of $56.89 and a two-hundred day moving average price of $52.90.

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

Avnet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 18th. Investors of record on Wednesday, March 4th will be paid a $0.35 dividend. The ex-dividend date is Wednesday, March 4th. This represents a $1.40 dividend on an annualized basis and a yield of 2.1%. Avnet’s dividend payout ratio (DPR) is presently 57.38%.

Institutional Investors Weigh In On Avnet

Hedge funds have recently bought and sold shares of the company. GSA Capital Partners LLP bought a new stake in Avnet during the 3rd quarter valued at approximately $616,000. Seizert Capital Partners LLC acquired a new position in shares of Avnet during the second quarter worth approximately $1,729,000. Candriam S.C.A. acquired a new position in shares of Avnet during the third quarter worth approximately $2,064,000. Legal & General Group Plc boosted its position in shares of Avnet by 6.2% in the second quarter. Legal & General Group Plc now owns 228,866 shares of the company’s stock valued at $12,148,000 after acquiring an additional 13,422 shares during the period. Finally, Bank of New York Mellon Corp grew its stake in shares of Avnet by 3.4% in the second quarter. Bank of New York Mellon Corp now owns 1,101,103 shares of the company’s stock worth $58,447,000 after acquiring an additional 36,549 shares during the last quarter. 95.78% of the stock is currently owned by 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.