Avnet, Inc. (NASDAQ:AVT) Receives Average Rating of “Reduce” from Brokerages

Avnet, Inc. (NASDAQ:AVT) has received an average recommendation of “Reduce” from the five ratings firms that are presently covering the firm, Marketbeat reports. Two analysts have rated the stock with a sell recommendation and three have given a hold recommendation to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $54.3333.

A number of research analysts recently weighed in on the stock. Wall Street Zen upgraded shares of Avnet from a “hold” rating to a “buy” rating in a research note on Saturday, January 31st. Truist Financial raised their price target on Avnet from $55.00 to $65.00 and gave the company a “hold” rating in a report on Thursday, January 29th. Wells Fargo & Company boosted their price objective on Avnet from $43.00 to $48.00 and gave the company an “underweight” rating in a research report on Thursday, January 29th. Finally, Weiss Ratings lowered Avnet from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, February 17th.

Institutional Investors Weigh In On Avnet

Several institutional investors and hedge funds have recently modified their holdings of the stock. Norges Bank bought a new position in shares of Avnet during the fourth quarter worth $62,393,000. AQR Capital Management LLC increased its holdings in Avnet by 30.7% in the 4th quarter. AQR Capital Management LLC now owns 2,961,608 shares of the company’s stock valued at $142,394,000 after acquiring an additional 695,929 shares during the last quarter. Jain Global LLC purchased a new stake in Avnet in the 4th quarter worth $18,873,000. SG Capital Management LLC purchased a new stake in Avnet in the 2nd quarter worth $16,941,000. Finally, Loews Corp boosted its holdings in shares of Avnet by 258.3% during the 4th quarter. Loews Corp now owns 430,000 shares of the company’s stock valued at $20,674,000 after purchasing an additional 310,000 shares during the last quarter. Institutional investors own 95.78% of the company’s stock.

Avnet Stock Down 0.5%

NASDAQ AVT opened at $66.94 on Wednesday. Avnet has a 52 week low of $39.22 and a 52 week high of $68.29. The company has a quick ratio of 1.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $5.48 billion, a P/E ratio of 27.43, a price-to-earnings-growth ratio of 0.50 and a beta of 0.92. The stock’s 50-day moving average price is $55.85 and its 200-day moving average price is $52.62.

Avnet (NASDAQ:AVT) last announced its quarterly earnings data on Wednesday, January 28th. The company reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.10. Avnet had a return on equity of 6.08% and a net margin of 0.90%.The company 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 company posted $0.87 EPS. The firm’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. On average, equities research analysts predict that Avnet will post 3.41 earnings per share for the current year.

Avnet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 18th. Shareholders of record on Wednesday, March 4th will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 2.1%. The ex-dividend date is Wednesday, March 4th. Avnet’s dividend payout ratio is presently 57.38%.

About Avnet

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.