Avnet (NASDAQ:AVT) Upgraded at Zacks Research

Zacks Research upgraded shares of Avnet (NASDAQ:AVT) from a strong sell rating to a hold rating in a research note issued to investors on Monday,Zacks.com reports. Zacks Research also issued estimates for Avnet’s Q2 2026 earnings at $1.01 EPS, Q3 2026 earnings at $1.32 EPS, Q4 2026 earnings at $1.40 EPS, FY2026 earnings at $4.53 EPS, Q1 2027 earnings at $1.42 EPS, Q2 2027 earnings at $1.60 EPS, Q3 2027 earnings at $1.61 EPS, FY2027 earnings at $6.50 EPS, Q1 2028 earnings at $1.75 EPS and FY2028 earnings at $7.50 EPS.

A number of other brokerages have also recently commented on AVT. Weiss Ratings restated a “hold (c+)” rating on shares of Avnet in a report on Wednesday, October 8th. Truist Financial boosted their target price on shares of Avnet from $50.00 to $54.00 and gave the company a “hold” rating in a report on Thursday, August 7th. Finally, Bank of America boosted their target price on shares of Avnet from $48.00 to $50.00 and gave the company an “underperform” rating in a report on Monday, August 11th. Three investment analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average price target of $49.00.

Avnet Stock Down 1.8%

Shares of Avnet stock opened at $51.22 on Monday. The company has a current ratio of 2.43, a quick ratio of 1.16 and a debt-to-equity ratio of 0.51. The company’s fifty day simple moving average is $52.91 and its two-hundred day simple moving average is $51.83. The company has a market cap of $4.26 billion, a P/E ratio of 18.76, a PEG ratio of 0.39 and a beta of 1.06. Avnet has a 12-month low of $39.22 and a 12-month high of $59.24.

Avnet (NASDAQ:AVT) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.09. Avnet had a net margin of 1.08% and a return on equity of 6.07%. The business had revenue of $5.62 billion for the quarter, compared to the consensus estimate of $5.36 billion. During the same period in the previous year, the firm earned $1.22 EPS. The company’s quarterly revenue was up 1.0% compared to the same quarter last year. Research analysts anticipate that Avnet will post 3.41 EPS for the current year.

Avnet Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 26th. Shareholders of record on Wednesday, September 17th were paid a dividend of $0.35 per share. The ex-dividend date was Wednesday, September 17th. This represents a $1.40 annualized dividend and a yield of 2.7%. This is an increase from Avnet’s previous quarterly dividend of $0.33. Avnet’s dividend payout ratio (DPR) is currently 51.28%.

Hedge Funds Weigh In On Avnet

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. bought a new position in Avnet during the 1st quarter valued at about $49,000. Maryland State Retirement & Pension System bought a new position in shares of Avnet in the 2nd quarter worth approximately $215,000. MassMutual Private Wealth & Trust FSB lifted its stake in shares of Avnet by 109.5% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 528 shares of the company’s stock worth $28,000 after purchasing an additional 276 shares during the period. Inspire Investing LLC bought a new position in shares of Avnet in the 1st quarter worth approximately $775,000. Finally, TD Private Client Wealth LLC lifted its stake in shares of Avnet by 43.0% in the 1st quarter. TD Private Client Wealth LLC now owns 818 shares of the company’s stock worth $39,000 after purchasing an additional 246 shares during the period. Institutional investors own 95.78% of the company’s stock.

Avnet Company Profile

Avnet, Inc, distributes electronic component technology. The company operates through two segments, Electronic Components and Farnell. The Electronic Components segment markets, sells, and distributes semiconductors; interconnect, passive, and electromechanical components; and other integrated components from electronic component manufacturers.