Avnet (NASDAQ:AVT) Hits New 52-Week High After Dividend Announcement

Shares of Avnet, Inc. (NASDAQ:AVT) reached a new 52-week high during mid-day trading on Friday after the company announced a dividend. The company traded as high as $67.72 and last traded at $66.9560, with a volume of 183495 shares. The stock had previously closed at $66.03.

The newly announced dividend which will be paid on Wednesday, March 18th. Stockholders of record on Wednesday, March 4th will be issued a $0.35 dividend. The ex-dividend date is Wednesday, March 4th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.1%. Avnet’s dividend payout ratio is currently 57.38%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on AVT shares. Wall Street Zen raised Avnet from a “hold” rating to a “buy” rating in a research report on Saturday, January 31st. Wells Fargo & Company upped their target price on shares of Avnet from $43.00 to $48.00 and gave the company an “underweight” rating in a research note on Thursday, January 29th. Weiss Ratings downgraded shares of Avnet from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday. Finally, Truist Financial lifted their target price on Avnet from $55.00 to $65.00 and gave the stock a “hold” rating in a research report on Thursday, January 29th. Three equities research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Reduce” and an average price target of $54.33.

Avnet Price Performance

The company has a market capitalization of $5.47 billion, a price-to-earnings ratio of 27.40, a price-to-earnings-growth ratio of 0.49 and a beta of 0.93. The company has a 50-day moving average price of $54.78 and a 200-day moving average price of $52.28. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.07 and a current ratio of 2.07.

Avnet (NASDAQ:AVT) last posted its earnings results on Wednesday, January 28th. The company reported $1.05 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.10. Avnet had a net margin of 0.90% and a return on equity of 6.08%. The company had revenue of $6.32 billion for the quarter, compared to analyst estimates of $6.03 billion. During the same period last year, the business posted $0.87 earnings per share. The business’s revenue for the quarter was up 11.6% compared to the same quarter last year. Avnet has set its Q3 2026 guidance at 1.200-1.300 EPS. On average, equities research analysts expect that Avnet, Inc. will post 3.41 EPS for the current fiscal year.

Institutional Investors Weigh In On Avnet

Several hedge funds have recently bought and sold shares of the company. Hantz Financial Services Inc. lifted its position in shares of Avnet by 132.7% in the third quarter. Hantz Financial Services Inc. now owns 526 shares of the company’s stock valued at $27,000 after buying an additional 300 shares during the last quarter. Summit Securities Group LLC acquired a new stake in Avnet during the 4th quarter valued at $28,000. BOKF NA lifted its holdings in Avnet by 1,116.7% during the 3rd quarter. BOKF NA now owns 584 shares of the company’s stock valued at $31,000 after purchasing an additional 536 shares during the last quarter. MAI Capital Management boosted its position in Avnet by 53.7% during the third quarter. MAI Capital Management now owns 673 shares of the company’s stock worth $35,000 after purchasing an additional 235 shares during the period. Finally, Allworth Financial LP increased its holdings in shares of Avnet by 199.1% in the third quarter. Allworth Financial LP now owns 700 shares of the company’s stock valued at $37,000 after purchasing an additional 466 shares during the last quarter. 95.78% of the stock is currently owned by institutional investors and hedge funds.

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.