Avnet (NASDAQ:AVT) Upgraded by Wall Street Zen to “Buy” Rating

Avnet (NASDAQ:AVT) was upgraded by equities researchers at Wall Street Zen from a “hold” rating to a “buy” rating in a note issued to investors on Saturday.

Other research analysts have also recently issued research reports about the company. Truist Financial increased their price target on Avnet from $55.00 to $65.00 and gave the stock a “hold” rating in a research note on Thursday. Wells Fargo & Company increased their target price on shares of Avnet from $43.00 to $48.00 and gave the company an “underweight” rating in a research report on Thursday. Zacks Research raised shares of Avnet from a “strong sell” rating to a “hold” rating in a research note on Monday, October 20th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Avnet in a research note on Wednesday, October 8th. Three analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus target price of $54.33.

Avnet Price Performance

Shares of NASDAQ:AVT opened at $62.39 on Friday. The firm’s 50 day moving average is $50.08 and its two-hundred day moving average is $51.22. The firm has a market capitalization of $5.07 billion, a P/E ratio of 25.57, a PEG ratio of 0.49 and a beta of 0.92. The company has a current ratio of 2.07, a quick ratio of 1.12 and a debt-to-equity ratio of 0.50. Avnet has a 52 week low of $39.22 and a 52 week high of $63.10.

Avnet (NASDAQ:AVT) last issued its quarterly earnings data on Wednesday, January 28th. The company reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.10. Avnet had a return on equity of 6.08% and a net margin of 0.90%.The business had revenue of $6.32 billion during the quarter, compared to the consensus estimate of $6.03 billion. During the same period in the previous year, the firm posted $0.87 earnings per share. The business’s revenue was up 11.6% on a year-over-year basis. Avnet has set its Q3 2026 guidance at 1.200-1.300 EPS. Analysts anticipate that Avnet will post 3.41 earnings per share for the current year.

Institutional Trading of Avnet

A number of hedge funds and other institutional investors have recently made changes to their positions in AVT. Norges Bank bought a new stake in Avnet during the second quarter worth approximately $51,495,000. AQR Capital Management LLC lifted its holdings in shares of Avnet by 34.8% in the third quarter. AQR Capital Management LLC now owns 2,265,679 shares of the company’s stock valued at $117,974,000 after purchasing an additional 585,141 shares in the last quarter. SG Capital Management LLC purchased a new position in Avnet during the 2nd quarter valued at about $16,941,000. Boston Partners grew its position in Avnet by 47.8% during the second quarter. Boston Partners now owns 739,195 shares of the company’s stock valued at $39,095,000 after purchasing an additional 239,226 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of Avnet by 2.0% in the third quarter. Vanguard Group Inc. now owns 10,783,059 shares of the company’s stock worth $563,738,000 after acquiring an additional 214,290 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.