Avnet (NASDAQ:AVT) Sets New 1-Year High on Strong Earnings

Shares of Avnet, Inc. (NASDAQ:AVT) hit a new 52-week high during mid-day trading on Wednesday after the company announced better than expected quarterly earnings. The company traded as high as $57.52 and last traded at $57.4540, with a volume of 889431 shares trading hands. The stock had previously closed at $52.68.

The company reported $1.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.10. Avnet had a net margin of 1.04% and a return on equity of 5.91%. The firm had revenue of $6.32 billion for the quarter, compared to analyst estimates of $6.03 billion. During the same period last year, the company 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.

Avnet Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 17th. Investors of record on Wednesday, December 3rd were paid a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend was Wednesday, December 3rd. Avnet’s dividend payout ratio is currently 52.24%.

Analyst Upgrades and Downgrades

AVT has been the subject of a number of research reports. Zacks Research raised shares of Avnet from a “strong sell” rating to a “hold” rating in a report on Monday, October 20th. Truist Financial boosted their price target on shares of Avnet from $54.00 to $55.00 and gave the stock a “hold” rating in a research report on Thursday, October 30th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Avnet in a report on Wednesday, October 8th. Three equities research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Reduce” and an average target price of $49.33.

Institutional Trading of Avnet

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Hantz Financial Services Inc. lifted its holdings in Avnet by 132.7% in the third quarter. Hantz Financial Services Inc. now owns 526 shares of the company’s stock valued at $27,000 after acquiring an additional 300 shares during the last quarter. BOKF NA lifted its stake in shares of Avnet by 1,116.7% in the 3rd quarter. BOKF NA now owns 584 shares of the company’s stock valued at $31,000 after purchasing an additional 536 shares during the last quarter. MAI Capital Management grew its holdings in shares of Avnet by 53.7% during the 3rd quarter. MAI Capital Management now owns 673 shares of the company’s stock worth $35,000 after purchasing an additional 235 shares during the period. Allworth Financial LP boosted its position in shares of Avnet by 199.1% during the 3rd quarter. Allworth Financial LP now owns 700 shares of the company’s stock worth $37,000 after purchasing an additional 466 shares during the period. Finally, Quent Capital LLC acquired a new stake in Avnet in the 3rd quarter valued at approximately $38,000. Institutional investors and hedge funds own 95.78% of the company’s stock.

Avnet Trading Up 10.7%

The company has a quick ratio of 1.12, a current ratio of 2.36 and a debt-to-equity ratio of 0.58. The business has a 50-day simple moving average of $49.09 and a 200-day simple moving average of $51.03. The company has a market cap of $4.74 billion, a PE ratio of 21.73, a price-to-earnings-growth ratio of 0.40 and a beta of 0.92.

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.