Avnet, Inc. (NASDAQ:AVT) Given Consensus Rating of “Reduce” by Analysts

Shares of Avnet, Inc. (NASDAQ:AVT) have been assigned an average rating of “Reduce” from the five ratings firms that are currently covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation and three have issued a hold recommendation on the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $54.3333.

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

Avnet Price Performance

NASDAQ AVT opened at $58.45 on Friday. The company has a 50-day moving average price of $60.49 and a two-hundred day moving average price of $53.64. Avnet has a 52 week low of $39.22 and a 52 week high of $68.29. The stock has a market cap of $4.78 billion, a price-to-earnings ratio of 23.95, a price-to-earnings-growth ratio of 0.43 and a beta of 0.91. The company has a current ratio of 2.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.50.

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 forecast that Avnet will post 3.41 EPS for the current year.

Avnet Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 18th. Shareholders of record on Wednesday, March 4th were given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date was Wednesday, March 4th. Avnet’s payout ratio is 57.38%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in AVT. Royal Bank of Canada lifted its position in Avnet by 3.0% in the first quarter. Royal Bank of Canada now owns 71,697 shares of the company’s stock worth $3,447,000 after purchasing an additional 2,101 shares during the period. Goldman Sachs Group Inc. boosted its stake in Avnet by 16.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 231,814 shares of the company’s stock valued at $11,148,000 after purchasing an additional 31,919 shares in the last quarter. United Services Automobile Association acquired a new position in shares of Avnet during the 1st quarter valued at $267,000. Empowered Funds LLC raised its stake in shares of Avnet by 9.3% in the 1st quarter. Empowered Funds LLC now owns 8,142 shares of the company’s stock worth $392,000 after buying an additional 696 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Avnet by 4.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 353,757 shares of the company’s stock worth $17,012,000 after buying an additional 16,443 shares in the last quarter. 95.78% of the stock is currently owned by institutional investors.

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.