Avnet (AVT) Getting Somewhat Positive Press Coverage, Analysis Finds
Media headlines about Avnet (NYSE:AVT) have been trending somewhat positive this week, according to Accern Sentiment Analysis. The research firm identifies positive and negative media coverage by reviewing more than 20 million blog and news sources in real time. Accern ranks coverage of companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Avnet earned a daily sentiment score of 0.23 on Accern’s scale. Accern also gave news headlines about the technology company an impact score of 46.2332513136651 out of 100, indicating that recent media coverage is somewhat unlikely to have an effect on the stock’s share price in the next several days.
A number of research analysts have issued reports on AVT shares. ValuEngine upgraded Avnet from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Zacks Investment Research lowered Avnet from a “buy” rating to a “hold” rating in a report on Wednesday, December 27th. Goldman Sachs Group raised Avnet from a “sell” rating to a “neutral” rating and set a $38.00 target price for the company in a report on Friday, January 5th. Longbow Research raised Avnet from a “neutral” rating to a “buy” rating in a report on Friday, January 19th. Finally, Pivotal Research assumed coverage on Avnet in a report on Tuesday, February 13th. They issued a “hold” rating and a $44.00 target price for the company. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $40.13.
Shares of Avnet (NYSE:AVT) opened at $44.21 on Wednesday. The company has a market capitalization of $5,279.99, a price-to-earnings ratio of 12.25, a price-to-earnings-growth ratio of 1.41 and a beta of 0.97. Avnet has a fifty-two week low of $35.67 and a fifty-two week high of $46.61. The company has a quick ratio of 1.56, a current ratio of 2.75 and a debt-to-equity ratio of 0.28.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 27th. Investors of record on Tuesday, March 13th will be issued a $0.19 dividend. The ex-dividend date of this dividend is Monday, March 12th. This represents a $0.76 annualized dividend and a dividend yield of 1.72%. This is a positive change from Avnet’s previous quarterly dividend of $0.18. Avnet’s payout ratio is presently 19.94%.
In related news, insider Philip R. Gallagher sold 14,292 shares of Avnet stock in a transaction on Friday, February 16th. The stock was sold at an average price of $42.00, for a total value of $600,264.00. Following the completion of the sale, the insider now owns 22,178 shares of the company’s stock, valued at $931,476. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Kevin V. Summers sold 1,511 shares of Avnet stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $40.67, for a total value of $61,452.37. Following the completion of the sale, the insider now directly owns 5,354 shares of the company’s stock, valued at approximately $217,747.18. The disclosure for this sale can be found here. Insiders own 1.65% of the company’s stock.
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Avnet Company Profile
Avnet, Inc is a distributor of electronic components, enterprise computer, networking and storage products and software, and embedded subsystems. The Company operates through Electronics Marketing (EM) segment. The EM segment markets and sells semiconductors; interconnect, passive and electromechanical devices (IP&E), and embedded products to a customer base serving various end markets.
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