Analysts Set Avnet, Inc. (NASDAQ:AVT) Price Target at $89.50

Shares of Avnet, Inc. (NASDAQ:AVT) have been given a consensus rating of “Moderate Buy” by the six research firms that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation, two have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $89.50.

Several research firms have weighed in on AVT. Bank of America raised shares of Avnet from an “underperform” rating to a “neutral” rating and lifted their price target for the company from $66.00 to $96.00 in a research note on Wednesday, May 13th. Weiss Ratings raised shares of Avnet from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, July 13th. Truist Financial raised their target price on Avnet to $95.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Raymond James Financial reaffirmed a “strong-buy” rating and set a $95.00 price target on shares of Avnet in a research note on Thursday, April 30th. Finally, Wells Fargo & Company increased their price target on Avnet from $70.00 to $72.00 and gave the stock an “underweight” rating in a report on Monday, July 20th.

Insider Buying and Selling at Avnet

In other news, CEO Philip R. Gallagher sold 23,920 shares of the company’s stock in a transaction that occurred 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 transaction, the chief executive officer directly owned 145,003 shares of the company’s stock, valued at $12,023,648.76. This represents a 14.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.90% of the stock is owned by insiders.

Institutional Trading of Avnet

Hedge funds have recently bought and sold shares of the business. Summit Securities Group LLC bought a new stake in Avnet during the 4th quarter valued at $28,000. BOKF NA lifted its stake in shares of Avnet by 1,116.7% in the third quarter. BOKF NA now owns 584 shares of the company’s stock valued at $31,000 after buying an additional 536 shares in the last quarter. Elevation Wealth Partners LLC grew its holdings in shares of Avnet by 38.5% during the second quarter. Elevation Wealth Partners LLC now owns 666 shares of the company’s stock valued at $59,000 after buying an additional 185 shares during the last quarter. Allworth Financial LP grew its holdings in shares of Avnet by 199.1% during the third quarter. Allworth Financial LP now owns 700 shares of the company’s stock valued at $37,000 after buying an additional 466 shares during the last quarter. Finally, Hantz Financial Services Inc. increased its position in shares of Avnet by 62.0% during the fourth quarter. Hantz Financial Services Inc. now owns 852 shares of the company’s stock worth $41,000 after acquiring an additional 326 shares in the last quarter. Institutional investors and hedge funds own 95.78% of the company’s stock.

Avnet Stock Performance

Shares of AVT stock opened at $88.38 on Friday. The firm has a 50 day moving average of $87.41 and a 200-day moving average of $73.09. The company has a market cap of $7.25 billion, a price-to-earnings ratio of 34.39, a price-to-earnings-growth ratio of 0.28 and a beta of 1.09. The company has a quick ratio of 1.05, a current ratio of 2.01 and a debt-to-equity ratio of 0.50. Avnet has a 52 week low of $44.25 and a 52 week high of $95.26.

Avnet (NASDAQ:AVT) last released its earnings results on Wednesday, April 29th. The company reported $1.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.33 by $0.15. The company 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%. Avnet’s quarterly revenue was up 34.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.84 EPS. Avnet has set its Q4 2026 guidance at 1.700-1.800 EPS. On average, equities analysts forecast that Avnet will post 5.12 earnings per share for the current year.

Avnet Dividend Announcement

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

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.