AVX Co. (NYSE:AVX) Lowered to “Sell” at BidaskClub
BidaskClub lowered shares of AVX Co. (NYSE:AVX) from a hold rating to a sell rating in a report published on Saturday morning.
Several other research firms have also issued reports on AVX. Stifel Nicolaus reissued a hold rating and set a $17.00 target price on shares of AVX in a report on Friday, July 28th. Zacks Investment Research raised AVX from a hold rating to a buy rating and set a $19.00 target price on the stock in a report on Thursday, July 13th.
Shares of AVX (NYSE:AVX) traded down 0.46% during trading on Friday, reaching $17.15. The company’s stock had a trading volume of 176,352 shares. AVX has a 52 week low of $13.08 and a 52 week high of $18.44. The company has a market cap of $2.89 billion, a PE ratio of 22.57 and a beta of 0.81. The stock’s 50 day moving average price is $17.17 and its 200 day moving average price is $16.50.
AVX (NYSE:AVX) last released its earnings results on Wednesday, July 26th. The electronics maker reported $0.19 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.19. The company had revenue of $331.35 million for the quarter, compared to analyst estimates of $328 million. AVX had a return on equity of 5.65% and a net margin of 9.50%. AVX’s quarterly revenue was up 5.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.19 EPS. Equities research analysts predict that AVX will post $0.76 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Wednesday, August 16th will be issued a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 2.57%. The ex-dividend date of this dividend is Monday, August 14th. AVX’s dividend payout ratio (DPR) is currently 58.67%.
Several hedge funds have recently added to or reduced their stakes in AVX. Campbell & CO Investment Adviser LLC bought a new stake in AVX during the first quarter valued at about $196,000. Parametric Portfolio Associates LLC increased its stake in shares of AVX by 21.4% in the first quarter. Parametric Portfolio Associates LLC now owns 128,082 shares of the electronics maker’s stock valued at $2,098,000 after buying an additional 22,618 shares in the last quarter. Sei Investments Co. acquired a new stake in shares of AVX during the first quarter valued at $245,000. Karp Capital Management Corp acquired a new stake in shares of AVX during the first quarter valued at $805,000. Finally, Bank of New York Mellon Corp increased its stake in shares of AVX by 3.5% in the first quarter. Bank of New York Mellon Corp now owns 1,039,219 shares of the electronics maker’s stock valued at $17,023,000 after buying an additional 34,987 shares in the last quarter. 24.65% of the stock is currently owned by institutional investors.
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.
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