Avnet (NASDAQ:AVT) Rating Increased to Neutral at Bank of America

Avnet (NASDAQ:AVT) was upgraded by Bank of America from an “underperform” rating to a “neutral” rating in a research report issued to clients and investors on Wednesday. The firm currently has a $96.00 price target on the stock. Bank of America‘s price objective would suggest a potential upside of 16.92% from the stock’s current price.

A number of other brokerages have also weighed in on AVT. Zacks Research raised shares of Avnet from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 14th. Wells Fargo & Company boosted their price objective on shares of Avnet from $60.00 to $70.00 and gave the stock an “underweight” rating in a research report on Thursday, April 30th. Raymond James Financial reissued a “strong-buy” rating and set a $95.00 price target on shares of Avnet in a research report on Thursday, April 30th. Weiss Ratings cut Avnet from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, March 19th. Finally, Truist Financial increased their price target on shares of Avnet to $95.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Two research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $89.00.

Avnet Price Performance

Avnet stock opened at $82.11 on Wednesday. The firm has a market capitalization of $6.73 billion, a P/E ratio of 31.95, a PEG ratio of 0.60 and a beta of 1.09. Avnet has a 1 year low of $44.25 and a 1 year high of $84.75. The business has a 50-day moving average of $68.22 and a 200-day moving average of $58.29. The company has a current ratio of 2.01, a quick ratio of 1.05 and a debt-to-equity ratio of 0.50.

Avnet (NASDAQ:AVT) last announced its quarterly earnings results on Wednesday, April 29th. The company reported $1.48 earnings per share for the quarter, beating analysts’ consensus estimates of $1.33 by $0.15. The business had revenue of $7.12 billion for the quarter, compared to the consensus estimate of $6.45 billion. Avnet had a net margin of 0.86% and a return on equity of 7.07%. Avnet’s revenue for the quarter was up 34.0% on a year-over-year basis. During the same period last year, the company posted $0.84 EPS. Avnet has set its Q4 2026 guidance at 1.700-1.800 EPS. On average, equities analysts anticipate that Avnet will post 4.92 EPS for the current year.

Insider Activity

In other Avnet news, CEO Philip R. Gallagher sold 23,920 shares of the company’s stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $82.92, for a total value of $1,983,446.40. Following the transaction, the chief executive officer directly owned 145,003 shares of the company’s stock, valued at $12,023,648.76. This represents a 14.16% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 1.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of Avnet by 2.0% in the 3rd quarter. Vanguard Group Inc. now owns 10,783,059 shares of the company’s stock valued at $563,738,000 after buying an additional 214,290 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Avnet by 0.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 5,885,636 shares of the company’s stock worth $362,655,000 after acquiring an additional 22,137 shares in the last quarter. American Century Companies Inc. increased its stake in Avnet by 3.4% in the third quarter. American Century Companies Inc. now owns 3,751,726 shares of the company’s stock valued at $196,140,000 after acquiring an additional 124,466 shares during the last quarter. AQR Capital Management LLC increased its stake in Avnet by 30.7% in the fourth 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. Finally, LSV Asset Management raised its position in Avnet by 7.6% during the fourth quarter. LSV Asset Management now owns 2,811,171 shares of the company’s stock valued at $135,161,000 after purchasing an additional 197,400 shares in 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.