Key Points
- Avnet SVP Michael Ryan Mccoy sold 32,052 shares at an average price of $91.10, generating approximately $2.92 million and reducing his direct position by 29.48%.
- Avnet reported quarterly EPS of $2.28, beating estimates by $0.48, while revenue of $8.30 billion rose 47.7% year over year and exceeded forecasts.
- The company increased its quarterly dividend to $0.37 per share from $0.35, implying a $1.48 annualized payout and a 1.7% yield; analysts’ consensus rating remains “Moderate Buy” with a $93.25 price target.
Avnet, Inc. (NASDAQ:AVT - Get Free Report) SVP Michael Ryan Mccoy sold 32,052 shares of the stock in a transaction dated 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 in the company, valued at $6,985,001.40. This trade represents a 29.48% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
Avnet Trading Up 2.0%
Shares of AVT opened at $88.64 on Friday. The business's 50-day moving average price is $89.35 and its 200-day moving average price is $78.27. Avnet, Inc. has a twelve month low of $44.25 and a twelve month high of $100.00. The stock has a market cap of $7.27 billion, a PE ratio of 22.22, a P/E/G ratio of 0.27 and a beta of 1.09. The company has a quick ratio of 0.97, a current ratio of 1.78 and a debt-to-equity ratio of 0.49.
Avnet (NASDAQ:AVT - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The company reported $2.28 EPS for the quarter, beating analysts' consensus estimates of $1.80 by $0.48. The company had revenue of $8.30 billion during the quarter, compared to analyst estimates of $7.56 billion. Avnet had a net margin of 1.21% and a return on equity of 9.57%. Avnet's revenue was up 47.7% compared to the same quarter last year. During the same period last year, the business earned $0.81 earnings per share. Avnet has set its Q1 2027 guidance at 2.800-2.900 EPS. On average, equities analysts forecast that Avnet, Inc. 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. Shareholders of record on Wednesday, September 9th will be issued a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Wednesday, September 9th. This is a positive change from Avnet's previous quarterly dividend of $0.35. Avnet's payout ratio is 35.09%.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new position in Avnet in the second quarter valued at $916,146,000. Pzena Investment Management LLC bought a new stake in Avnet during the second quarter worth about $277,153,000. Norges Bank purchased a new position in shares of Avnet in the 4th quarter worth about $62,393,000. Bank of America Corp DE purchased a new position in shares of Avnet in the 2nd quarter worth about $91,844,000. Finally, Bank of New York Mellon Corp bought a new position in shares of Avnet during the 2nd quarter valued at about $74,897,000. 95.78% of the stock is currently owned by hedge funds and other institutional investors.
Key Headlines Impacting Avnet
Here are the key news stories impacting Avnet this week:
- Positive Sentiment: Broad-based earnings estimate increases: Zacks Research raised its EPS forecasts across multiple periods, including Q1 2027 to $2.85 from $1.53, Q2 2027 to $2.16 from $1.74, Q3 2027 to $1.96 from $1.55, and FY2027 to $9.00 from $6.65. The firm also lifted FY2028 estimates to $9.79 from $7.19 and projects FY2029 EPS of $10.15. Zacks maintains a “Strong-Buy” rating. Zacks Research earnings estimates
- Positive Sentiment: Higher forward-quarter expectations: The firm increased its Q1 2028 forecast to $3.14 from $1.85, Q2 2028 to $2.35 from $1.89, Q3 2028 to $2.06 from $1.66, and Q4 2028 to $2.23 from $1.79. These revisions point to stronger anticipated earnings momentum than previously expected. Avnet forward earnings revisions
- Positive Sentiment: Dividend increase: Avnet declared a quarterly dividend of $0.37 per share, up from $0.35, representing a 5.7% increase. The dividend is payable September 23 to shareholders of record September 9, with an indicated annual yield of approximately 1.7%. Avnet increases quarterly dividend
- Neutral Sentiment: Valuation remains a focus: Zacks is examining whether Avnet is undervalued based on value, growth, momentum, and earnings-estimate trends. The discussion could attract value-oriented investors, although the article details provided do not include a specific valuation conclusion. Are Investors Undervaluing Avnet
Analysts Set New Price Targets
Several research analysts have recently weighed in on the stock. Raymond James Financial reaffirmed a "strong-buy" rating and issued a $95.00 price target on shares of Avnet in a report on Thursday, April 30th. Bank of America raised Avnet from an "underperform" rating to a "neutral" rating and lifted their price objective for the company from $66.00 to $96.00 in a research note on Wednesday, May 13th. Zacks Research upgraded Avnet from a "hold" rating to a "strong-buy" rating in a research note on Friday, August 7th. Wall Street Zen upgraded Avnet from a "buy" rating to a "strong-buy" rating in a research note on Saturday, July 25th. Finally, Weiss Ratings raised Avnet from a "hold (c+)" rating to a "buy (b)" rating in a report on Friday, August 14th. Two equities research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $93.25.
Read Our Latest Stock Analysis on AVT
About Avnet
(
Get Free Report)
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.
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