Avnet (NASDAQ:AVT) Raised to Strong-Buy at Wall Street Zen

Avnet (NASDAQ:AVT) was upgraded by stock analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Saturday.

Several other analysts have also issued reports on the company. Weiss Ratings upgraded Avnet from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, July 13th. Bank of America upgraded Avnet from an “underperform” rating to a “neutral” rating and lifted their target price for the stock from $66.00 to $96.00 in a research note on Wednesday, May 13th. Raymond James Financial reissued a “strong-buy” rating and set a $95.00 target price on shares of Avnet in a report on Thursday, April 30th. Wells Fargo & Company increased their price target on Avnet from $70.00 to $72.00 and gave the company an “underweight” rating in a research note on Monday, July 20th. Finally, Truist Financial raised their price target on Avnet to $95.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Avnet presently has an average rating of “Moderate Buy” and a consensus price target of $89.50.

Avnet Stock Performance

Shares of AVT opened at $89.42 on Friday. The company has a market cap of $7.33 billion, a PE ratio of 34.79, a price-to-earnings-growth ratio of 0.28 and a beta of 1.09. The firm has a 50-day moving average of $87.31 and a 200-day moving average of $72.81. Avnet has a one year low of $44.25 and a one year high of $95.26. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.01 and a quick ratio of 1.05.

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. Avnet had a net margin of 0.86% and a return on equity of 7.07%. The company had revenue of $7.12 billion for the quarter, compared to analysts’ expectations of $6.45 billion. During the same period in the prior year, the firm earned $0.84 EPS. Avnet’s quarterly revenue was up 34.0% compared to the same quarter last year. Avnet has set its Q4 2026 guidance at 1.700-1.800 EPS. As a group, equities analysts forecast that Avnet will post 5.12 earnings per share for the current year.

Insider Transactions at Avnet

In other Avnet news, CEO Philip R. Gallagher sold 23,920 shares of the firm’s stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $82.92, for a total transaction 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. This trade represents a 14.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On Avnet

Several institutional investors and hedge funds have recently made changes to their positions in the company. Dimensional Fund Advisors LP lifted its holdings in Avnet by 0.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 5,885,636 shares of the company’s stock worth $362,655,000 after purchasing an additional 22,137 shares during the last quarter. AQR Capital Management LLC grew its holdings in Avnet by 30.7% in the 4th quarter. AQR Capital Management LLC now owns 2,961,608 shares of the company’s stock valued at $142,394,000 after buying an additional 695,929 shares in the last quarter. LSV Asset Management increased its position in Avnet by 7.6% during the 4th quarter. LSV Asset Management now owns 2,811,171 shares of the company’s stock worth $135,161,000 after buying an additional 197,400 shares during the period. Hotchkis & Wiley Capital Management LLC increased its position in Avnet by 5.3% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 2,011,676 shares of the company’s stock worth $105,170,000 after buying an additional 101,873 shares during the period. Finally, Morgan Stanley lifted its holdings in shares of Avnet by 16.2% during the fourth quarter. Morgan Stanley now owns 1,524,945 shares of the company’s stock worth $73,319,000 after buying an additional 212,573 shares in the last quarter. Institutional investors and hedge funds own 95.78% of the company’s stock.

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.