Avnet, Inc. (NASDAQ:AVT) Receives $93.25 Consensus Target Price from Analysts

Avnet, Inc. (NASDAQ:AVT) has received an average rating of “Moderate Buy” from the six research firms that are currently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, two have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $93.25.

Several brokerages have recently weighed in on AVT. Wells Fargo & Company boosted their price target on shares of Avnet from $70.00 to $72.00 and gave the company an “underweight” rating in a research report on Monday, July 20th. Weiss Ratings upgraded shares of Avnet from a “hold (c+)” rating to a “buy (b)” rating in a research report on Friday, August 14th. Zacks Research raised shares of Avnet from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 7th. Wall Street Zen upgraded shares of Avnet from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 25th. Finally, Truist Financial boosted their target price on shares of Avnet from $95.00 to $110.00 and gave the company a “buy” rating in a report on Thursday, August 6th.

Avnet Trading Up 3.2%

Shares of Avnet stock opened at $96.12 on Friday. The stock has a market cap of $7.89 billion, a P/E ratio of 24.09, a P/E/G ratio of 0.29 and a beta of 1.10. The stock’s 50 day simple moving average is $90.96 and its 200-day simple moving average is $81.88. Avnet has a 1-year low of $44.25 and a 1-year high of $100.00. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.78 and a quick ratio of 0.97.

Avnet (NASDAQ:AVT) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $2.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.80 by $0.48. Avnet had a return on equity of 9.57% and a net margin of 1.21%.The business had revenue of $8.30 billion during the quarter, compared to analyst estimates of $7.56 billion. During the same period in the prior year, the business earned $0.81 earnings per share. The business’s revenue was up 47.7% compared to the same quarter last year. Avnet has set its Q1 2027 guidance at 2.800-2.900 EPS. Analysts predict that Avnet will post 10.45 EPS for the current fiscal year.

Avnet Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 23rd. Stockholders of record on Wednesday, September 9th will be given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend is Wednesday, September 9th. This is a boost from Avnet’s previous quarterly dividend of $0.35. Avnet’s dividend payout ratio is presently 37.09%.

Insider Buying and Selling

In related news, CEO Philip R. Gallagher sold 51,900 shares of the stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $98.46, for a total value of $5,110,074.00. Following the completion of the transaction, the chief executive officer directly owned 168,923 shares in the company, valued at approximately $16,632,158.58. This represents a 23.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Michael Ryan Mccoy sold 32,052 shares of the firm’s stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $91.10, for a total value of $2,919,937.20. Following the sale, the senior vice president directly owned 76,674 shares of the company’s stock, valued at approximately $6,985,001.40. This trade represents a 29.48% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 1.90% of the company’s stock.

Institutional Trading of Avnet

A number of hedge funds and other institutional investors have recently modified their holdings of AVT. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in Avnet in the 2nd quarter valued at about $25,000. State of Wyoming purchased a new position in Avnet during the second quarter worth about $37,000. Elevation Wealth Partners LLC increased its position in shares of Avnet by 38.5% during the second quarter. Elevation Wealth Partners LLC now owns 666 shares of the company’s stock valued at $59,000 after acquiring an additional 185 shares during the last quarter. Summit Securities Group LLC increased its position in shares of Avnet by 32.1% during the first quarter. Summit Securities Group LLC now owns 765 shares of the company’s stock valued at $47,000 after acquiring an additional 186 shares during the last quarter. Finally, Rakuten Securities Inc. purchased a new stake in shares of Avnet in the 2nd quarter valued at approximately $71,000. 95.78% of the stock is owned by institutional investors and hedge funds.

Avnet Company Profile

Avnet, Inc is a global technology distributor that helps manufacturers, engineers and other customers source electronic components and develop products. The company connects semiconductor and electronic-component suppliers with original equipment manufacturers, electronic manufacturing services providers and independent design firms.

Its offerings include semiconductors, embedded processors and computing products, memory, interconnect solutions, passive and electromechanical components, and related hardware and software.