AVX Corp. (AVX) Stock Rating Upgraded by Zacks Investment Research
AVX Corp. (NYSE:AVX) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.
According to Zacks, “AVX Corporation is a leading worldwide manufacturer and supplier of a broad line of passive electronic components and related products. The company’s passive electronic component sales include ceramic and tantalum capacitors, both in leaded and surface-mount versions, film capacitors, ferrites, varistors and non-linear resistors manufactured in the company’s facilities. The company also manufactures and sells electronic connectors and distributes and sells certain connectors. “
Separately, Citigroup Inc. raised their target price on shares of AVX Corp. from $14.00 to $15.00 and gave the company a “neutral” rating in a research note on Thursday, July 28th.
AVX Corp. (NYSE:AVX) opened at 14.43 on Wednesday. AVX Corp. has a 12 month low of $10.43 and a 12 month high of $14.67. The firm has a market cap of $2.41 billion, a P/E ratio of 26.24 and a beta of 0.89. The stock has a 50 day moving average of $13.85 and a 200-day moving average of $13.64.
AVX Corp. (NYSE:AVX) last announced its quarterly earnings results on Wednesday, October 26th. The company reported $0.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by $0.02. AVX Corp. had a return on equity of 5.46% and a net margin of 9.26%. The firm earned $327.50 million during the quarter, compared to analysts’ expectations of $316.40 million. During the same period in the previous year, the company posted $0.19 earnings per share. The company’s quarterly revenue was up 7.6% compared to the same quarter last year. Equities research analysts predict that AVX Corp. will post $0.73 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, November 18th. Shareholders of record on Monday, November 7th will be given a dividend of $0.11 per share. This is a boost from AVX Corp.’s previous quarterly dividend of $0.11. This represents a $0.44 dividend on an annualized basis and a yield of 3.05%. The ex-dividend date is Thursday, November 3rd. AVX Corp.’s dividend payout ratio (DPR) is presently 64.71%.
A number of hedge funds and other institutional investors have recently modified their holdings of AVX. Dimensional Fund Advisors LP boosted its position in shares of AVX Corp. by 5.4% in the second quarter. Dimensional Fund Advisors LP now owns 4,299,828 shares of the company’s stock worth $58,391,000 after buying an additional 220,857 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of AVX Corp. by 1.6% in the second quarter. Vanguard Group Inc. now owns 3,332,554 shares of the company’s stock worth $45,256,000 after buying an additional 53,333 shares during the last quarter. BlackRock Fund Advisors boosted its position in shares of AVX Corp. by 7.5% in the third quarter. BlackRock Fund Advisors now owns 1,305,380 shares of the company’s stock worth $18,001,000 after buying an additional 91,076 shares during the last quarter. Wells Fargo & Company MN boosted its position in shares of AVX Corp. by 8.8% in the third quarter. Wells Fargo & Company MN now owns 1,180,397 shares of the company’s stock worth $16,279,000 after buying an additional 95,054 shares during the last quarter. Finally, BlackRock Institutional Trust Company N.A. boosted its position in shares of AVX Corp. by 2.7% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 1,132,885 shares of the company’s stock worth $15,385,000 after buying an additional 30,057 shares during the last quarter. Institutional investors and hedge funds own 24.72% of the company’s stock.
AVX Corp. Company Profile
AVX Corporation (AVX) is a manufacturer and supplier and reseller of a line of passive electronic components, interconnect devices and related products. AVX operates in three segments: Passive Components, Kyocera Electronic Devices (KED Resale) and Interconnect. The Passive Components segment consists of surface mount and leaded ceramic capacitors, surface mount and leaded tantalum capacitors, surface mount and leaded film capacitors, thick and thin film packages of multiple passive integrated components, thermistors, inductors and resistive products.
Receive News & Stock Ratings for AVX Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AVX Corp. and related stocks with our FREE daily email newsletter.