Avnet (NASDAQ:AVT) Upgraded to Buy at Truist Financial

Truist Financial upgraded shares of Avnet (NASDAQ:AVT) from a hold rating to a buy rating in a report published on Monday, MarketBeat.com reports. Truist Financial currently has $80.00 price target on the stock, up from their previous price target of $65.00.

Several other brokerages have also issued reports on AVT. Weiss Ratings lowered shares of Avnet from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, March 19th. Wall Street Zen upgraded shares of Avnet from a “hold” rating to a “buy” rating in a research note on Saturday, January 31st. Finally, Wells Fargo & Company lifted their price objective on shares of Avnet from $43.00 to $48.00 and gave the company an “underweight” rating in a research note on Thursday, January 29th. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, Avnet presently has an average rating of “Reduce” and a consensus target price of $59.33.

Avnet Trading Up 9.6%

Shares of AVT stock opened at $73.48 on Monday. The company has a 50 day moving average of $63.54 and a 200-day moving average of $54.76. The company has a quick ratio of 1.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.50. Avnet has a 12-month low of $44.25 and a 12-month high of $73.56. The firm has a market cap of $6.02 billion, a P/E ratio of 30.11, a PEG ratio of 0.50 and a beta of 0.90.

Avnet (NASDAQ:AVT) last issued its quarterly earnings results 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 net margin of 0.90% and a return on equity of 6.08%. The company had revenue of $6.32 billion during the quarter, compared to analyst estimates of $6.03 billion. During the same quarter last year, the business posted $0.87 EPS. Avnet’s quarterly revenue was up 11.6% compared to the same quarter last year. Avnet has set its Q3 2026 guidance at 1.200-1.300 EPS. Sell-side analysts anticipate that Avnet will post 3.41 earnings per share for the current year.

Avnet Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 18th. Investors of record on Wednesday, March 4th were paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date was Wednesday, March 4th. Avnet’s payout ratio is currently 57.38%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Hantz Financial Services Inc. grew its position in shares of Avnet by 132.7% during the 3rd quarter. Hantz Financial Services Inc. now owns 526 shares of the company’s stock valued at $27,000 after purchasing an additional 300 shares in the last quarter. Summit Securities Group LLC purchased a new position in shares of Avnet during the 4th quarter valued at $28,000. BOKF NA grew its position in shares of Avnet by 1,116.7% during the 3rd quarter. BOKF NA now owns 584 shares of the company’s stock valued at $31,000 after purchasing an additional 536 shares in the last quarter. MAI Capital Management grew its position in shares of Avnet by 53.7% during the 3rd quarter. MAI Capital Management now owns 673 shares of the company’s stock valued at $35,000 after purchasing an additional 235 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB grew its position in shares of Avnet by 53.9% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 737 shares of the company’s stock valued at $35,000 after purchasing an additional 258 shares in the last quarter. 95.78% of the stock is currently owned by hedge funds and other 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.