Avnet (NASDAQ:AVT) Sets New 12-Month High – Here’s What Happened

Avnet, Inc. (NASDAQ:AVT) reached a new 52-week high during trading on Tuesday . The stock traded as high as $87.80 and last traded at $87.77, with a volume of 246734 shares traded. The stock had previously closed at $85.91.

Wall Street Analyst Weigh In

Several research analysts have commented on AVT shares. Wall Street Zen lowered shares of Avnet from a “strong-buy” rating to a “buy” rating in a research note on Sunday, May 10th. Zacks Research raised shares of Avnet from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 14th. Wells Fargo & Company boosted their target price on shares of Avnet from $60.00 to $70.00 and gave the company an “underweight” rating in a research note on Thursday, April 30th. Raymond James Financial reissued a “strong-buy” rating and set a $95.00 target price on shares of Avnet in a research note on Thursday, April 30th. Finally, Truist Financial boosted their target price on shares of Avnet to $95.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Two research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $89.00.

Avnet Price Performance

The stock has a market capitalization of $7.31 billion, a PE ratio of 34.66, a price-to-earnings-growth ratio of 0.39 and a beta of 1.09. The company has a quick ratio of 1.05, a current ratio of 2.01 and a debt-to-equity ratio of 0.50. The stock’s 50 day moving average price is $72.30 and its 200-day moving average price is $60.52.

Avnet (NASDAQ:AVT) last issued its earnings results on Wednesday, April 29th. The company reported $1.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.33 by $0.15. The firm had revenue of $7.12 billion during the quarter, compared to analyst estimates of $6.45 billion. Avnet had a net margin of 0.86% and a return on equity of 7.07%. The business’s revenue was up 34.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.84 earnings per share. Avnet has set its Q4 2026 guidance at 1.700-1.800 EPS. As a group, equities analysts forecast that Avnet, Inc. will post 5.12 EPS for the current year.

Avnet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 17th. Investors of record on Wednesday, June 3rd will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 1.6%. The ex-dividend date is Wednesday, June 3rd. Avnet’s payout ratio is presently 54.47%.

Insider Buying and Selling at Avnet

In related news, CEO Philip R. Gallagher sold 23,920 shares of Avnet stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $82.92, for a total value of $1,983,446.40. Following the completion of the sale, the chief executive officer directly owned 145,003 shares in the company, valued at $12,023,648.76. The trade was a 14.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.90% of the stock is owned by insiders.

Institutional Trading of Avnet

Institutional investors and hedge funds have recently made changes to their positions in the company. Hantz Financial Services Inc. raised its holdings in Avnet by 132.7% in the third quarter. Hantz Financial Services Inc. now owns 526 shares of the company’s stock worth $27,000 after purchasing an additional 300 shares in the last quarter. Summit Securities Group LLC bought a new position in Avnet in the fourth quarter worth about $28,000. BOKF NA raised its holdings in Avnet by 1,116.7% in the third quarter. BOKF NA now owns 584 shares of the company’s stock worth $31,000 after purchasing an additional 536 shares in the last quarter. MAI Capital Management raised its holdings in Avnet by 53.7% in the third quarter. MAI Capital Management now owns 673 shares of the company’s stock worth $35,000 after purchasing an additional 235 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB raised its holdings in Avnet by 53.9% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 737 shares of the company’s stock worth $35,000 after purchasing an additional 258 shares in the last quarter. 95.78% of the stock is currently owned by institutional investors.

About Avnet

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.