Avnet, Inc. (NASDAQ:AVT) Stock Has Average Price Target of $93.25

Shares of Avnet, Inc. (NASDAQ:AVT) have received an average rating of “Moderate Buy” from the six ratings firms that are covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating, two have given a buy rating and two have given a strong buy rating to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $93.25.

Several brokerages recently weighed in on AVT. Weiss Ratings upgraded shares of Avnet from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday. Wall Street Zen cut shares of Avnet from a “strong-buy” rating to a “buy” rating in a research report on Saturday, October 3rd. Zacks Research upgraded shares of Avnet from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 7th. Wells Fargo & Company raised their price target on shares of Avnet from $70.00 to $72.00 and gave the company an “underweight” rating in a research note on Monday, July 20th. Finally, Truist Financial lifted their price target on Avnet from $95.00 to $110.00 and gave the company a “buy” rating in a report on Thursday, August 6th.

Avnet Trading Down 2.2%

NASDAQ:AVT opened at $97.15 on Thursday. Avnet has a 12-month low of $44.25 and a 12-month high of $108.63. The firm has a market capitalization of $7.99 billion, a P/E ratio of 24.35, a P/E/G ratio of 0.30 and a beta of 1.06. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.78 and a quick ratio of 0.97. The business has a 50 day simple moving average of $95.53 and a 200 day simple moving average of $86.59.

Avnet (NASDAQ:AVT) last issued its earnings results on Wednesday, August 5th. The company reported $2.28 earnings per share for the quarter, topping the consensus estimate of $1.80 by $0.48. The firm had revenue of $8.30 billion for the quarter, compared to analyst estimates of $7.56 billion. Avnet had a return on equity of 9.57% and a net margin of 1.21%. The firm’s revenue for the quarter was up 47.7% on a year-over-year basis. During the same period last year, the company earned $0.81 earnings per share. Avnet has set its Q1 2027 guidance at 2.800-2.900 EPS. Equities research analysts predict that Avnet will post 10.45 EPS for the current year.

Avnet Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 23rd. Investors of record on Wednesday, September 9th were issued a $0.37 dividend. This is a positive change from Avnet’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend was Wednesday, September 9th. This represents a $1.48 dividend on an annualized basis and a yield of 1.5%. Avnet’s dividend payout ratio is currently 37.09%.

Insider Buying and Selling at Avnet

In other news, SVP Michael Ryan Mccoy sold 32,052 shares of the stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $91.10, for a total value of $2,919,937.20. Following the completion of the transaction, the senior vice president owned 76,674 shares of the company’s stock, valued at approximately $6,985,001.40. This represents a 29.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Philip Gallagher sold 51,900 shares of the stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $98.46, for a total value of $5,110,074.00. Following the completion of the transaction, the chief executive officer directly owned 168,923 shares of the company’s stock, valued at approximately $16,632,158.58. The trade was a 23.50% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 2.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Avnet

Several institutional investors have recently bought and sold shares of the stock. BlackRock Inc. acquired a new position in shares of Avnet during the second quarter valued at approximately $916,146,000. Dimensional Fund Advisors LP grew its holdings in shares of 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 acquiring an additional 22,137 shares during the last quarter. Pzena Investment Management LLC acquired a new stake in Avnet during the 2nd quarter worth about $277,153,000. Bank of America Corp DE purchased a new stake in Avnet during the second quarter valued at about $91,844,000. Finally, Bank of New York Mellon Corp acquired a new position in shares of Avnet in the second quarter worth about $74,897,000. Institutional investors and hedge funds own 95.78% of the company’s stock.

Avnet Company Profile

Avnet, Inc is a global technology distributor and solutions provider that connects electronic component manufacturers with customers ranging from original equipment manufacturers and contract manufacturers to design engineers and startups. The company distributes semiconductors, interconnect products, passive and electromechanical components, and embedded computing products used in industrial, automotive, communications, aerospace and defense, healthcare, and consumer applications.

In addition to component distribution, Avnet provides engineering and design support, embedded systems, product customization, supply chain management, logistics, and other services intended to help customers move products from concept and prototyping through production.