Why Avnet Inc. (AVT) Should Be On Your Radar Moving Forward

The stock of Avnet Inc. (NASDAQ:AVT) last traded at $43.40, down -1.88% from the previous session.

Data from the available sources indicates that Avnet Inc. (NASDAQ:AVT) is covered by 9 analysts. The consensus rating among analysts is ‘Hold’. As we calculate the median target price by taking the range between a high of $57.00 and a low of $35.00, we find $45.00. Given the previous closing price of $44.23, this indicates a potential upside of 1.74 percent. AVT stock price is now 0.36% away from the 50-day moving average and 1.51% away from the 200-day moving average. The market capitalization of the company currently stands at $3.95B.

In total, 4 analysts have assigned it a hold rating, and 1 have given it a buy rating. Brokers who have rated the stock have averaged $45.00 as their price target over the next twelve months.

With the price target reduced from $45 to $35, Wells Fargo Downgraded its rating from Equal Weight to Underweight for Avnet Inc. (NASDAQ: AVT). On July 14, 2022, JP Morgan recently initiated its ‘Underweight’ rating on the stock quoting a target price of $46, while ‘BofA Securities’ rates the stock as ‘Neutral’.

In other news, Liguori Thomas, Chief Financial Officer sold 24,221 shares of the company’s stock on Aug 18. The stock was sold for $1,090,623 at an average price of $45.03. Upon completion of the transaction, the Chief Financial Officer now directly owns 30,066 shares in the company, valued at $1.3 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Aug 17, Chief Financial Officer Liguori Thomas sold 24,221 shares of the business’s stock. A total of $1,063,738 was realized by selling the stock at an average price of $43.92. This leaves the insider owning 54,287 shares of the company worth $2.36 million. Insiders disposed of 240,493 shares of company stock worth roughly $10.44 million over the past 1 year. A total of 0.60% of the company’s stock is owned by insiders.

There have been several recent changes in the stakes of large investors in AVT stock. A new stake in Avnet Inc. shares was purchased by GREAT WEST LIFE ASSURANCE CO /CAN/ during the first quarter worth $3,245,000. AMALGAMATED FINANCIAL CORP. invested $2,990,000 in shares of AVT during the first quarter. In the first quarter, BALYASNY ASSET MANAGEMENT LLC acquired a new stake in Avnet Inc. valued at approximately $1,709,000. COZAD ASSET MANAGEMENT INC acquired a new stake in AVT for approximately $1,359,000. CAPITAL FUND MANAGEMENT S.A. purchased a new stake in AVT valued at around $1,335,000 in the second quarter.

With an opening price of $43.86 on Thursday morning, Avnet Inc. (NASDAQ: AVT) set off the trading day. During the past 12 months, Avnet Inc. has had a low of $35.45 and a high of $50.19. As of last week, the company has a debt-to-equity ratio of 0.58, a current ratio of 2.00, and a quick ratio of 1.00. The fifty day moving average price for AVT is $43.28 and a two-hundred day moving average price translates $42.77 for the stock.

The latest earnings results from Avnet Inc. (NASDAQ: AVT) was released for Sep, 2022. According to the Electronics & Computer Distribution Company, earnings per share came in at $2, beating analysts’ expectations of $1.91 by 0.09. This compares to $1.10 EPS in the same period last year. The net profit margin was 3.00% and return on equity was 18.40% for AVT. The company reported revenue of $6.75 billion for the quarter, compared to $5.58 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 20.87 percent. For the current quarter, analysts expect AVT to generate $6.45B in revenue.

Moreover, the firm recently paid out its quarterly dividend on 12/21/2022. Investors who held shares on 12/07/2022 were paid a $0.29 dividend. On an annualized basis, this represents a $1.16 dividend and a 2.67% percent yield. There was an ex-dividend date of 12/06/2022 for this dividend. In terms of dividend payout ratio, AVT is presently at 13.30%.

Avnet Inc.(AVT) Company Profile

Avnet, Inc., a technology solutions company, markets, sells, and distributes electronic components. The company operates through two segments, Electronic Components and Farnell. The Electronic Components segment markets, sells, and distributes semiconductors; interconnect, passive, and electromechanical devices; and other integrated components from electronic component manufacturers. It also offers design chain support that provides engineers with technical design solutions; engineering and technical resources to support product design, bill of materials development, and technical education and training; and supply chain solutions that provide support and logistical services to original equipment manufacturers, electronic manufacturing service providers, and electronic component manufacturers. In addition, this segment provides integrated solutions, such as technical design, integration, and assembly of embedded products, and systems and solutions primarily for industrial applications, as well as for intelligent and innovative embedded display solutions comprising touch and passive displays. Further, it develops and manufactures standard board and industrial subsystems, and application-specific devices that enable it to produce systems tailored to specific customer requirements. This segment serves various markets, such as automotive, medical, defense, aerospace, telecommunications, industrial, and digital editing. The Farnell segment distributes kits, tools, and electronic and industrial automation components, as well as test and measurement products to engineers and entrepreneurs. It has operations in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. Avnet, Inc. was founded in 1921 and is headquartered in Phoenix, Arizona.