Avnet (NASDAQ:AVT) Hits New 1-Year High After Dividend Announcement

Shares of Avnet, Inc. (NASDAQ:AVT) reached a new 52-week high on Friday following a dividend announcement from the company. The stock traded as high as $67.72 and last traded at $66.9560, with a volume of 183495 shares trading hands. The stock had previously closed at $66.03.

The newly announced dividend which will be paid on Wednesday, March 18th. Shareholders of record on Wednesday, March 4th will be issued a dividend of $0.35 per share. The ex-dividend date is Wednesday, March 4th. This represents a $1.40 annualized dividend and a yield of 2.1%. Avnet’s dividend payout ratio is presently 57.38%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of Avnet from a “hold” rating to a “buy” rating in a report on Saturday, January 31st. Truist Financial raised their price target on shares of Avnet from $55.00 to $65.00 and gave the company a “hold” rating in a research report on Thursday, January 29th. Wells Fargo & Company boosted their price objective on Avnet from $43.00 to $48.00 and gave the stock an “underweight” rating in a report on Thursday, January 29th. Finally, Weiss Ratings downgraded Avnet from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday. Three research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Reduce” and a consensus target price of $54.33.

Avnet Stock Up 2.0%

The company has a current ratio of 2.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $5.51 billion, a P/E ratio of 27.59, a P/E/G ratio of 0.49 and a beta of 0.93. The stock’s 50-day simple moving average is $55.13 and its 200-day simple moving average is $52.38.

Avnet (NASDAQ:AVT) last posted its earnings results on Wednesday, January 28th. The company reported $1.05 EPS for the quarter, topping the consensus estimate of $0.95 by $0.10. The firm had revenue of $6.32 billion for the quarter, compared to analysts’ expectations of $6.03 billion. Avnet had a net margin of 0.90% and a return on equity of 6.08%. The company’s quarterly revenue was up 11.6% compared to the same quarter last year. 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, research analysts predict that Avnet, Inc. will post 3.41 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Avnet

Several institutional investors have recently added to or reduced their stakes in AVT. Quadrant Capital Group LLC raised its position in Avnet by 2.1% in the fourth quarter. Quadrant Capital Group LLC now owns 8,778 shares of the company’s stock worth $422,000 after acquiring an additional 184 shares during the period. GAMMA Investing LLC increased its stake in shares of Avnet by 6.9% during the 3rd quarter. GAMMA Investing LLC now owns 2,984 shares of the company’s stock worth $156,000 after purchasing an additional 192 shares during the last quarter. World Investment Advisors increased its stake in shares of Avnet by 2.3% during the 4th quarter. World Investment Advisors now owns 9,873 shares of the company’s stock worth $471,000 after purchasing an additional 219 shares during the last quarter. Deutsche Bank AG raised its holdings in shares of Avnet by 0.8% in the 4th quarter. Deutsche Bank AG now owns 31,122 shares of the company’s stock worth $1,496,000 after purchasing an additional 234 shares during the period. Finally, MAI Capital Management lifted its stake in Avnet by 53.7% in the third quarter. MAI Capital Management now owns 673 shares of the company’s stock valued at $35,000 after purchasing an additional 235 shares during the last quarter. Institutional investors own 95.78% of the company’s stock.

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.