Avnet, Inc. (NASDAQ:AVT) Announces Quarterly Dividend of $0.37

Avnet, Inc. (NASDAQ:AVT) declared a quarterly dividend on Thursday, August 20th. Shareholders of record on Wednesday, September 9th will be given a dividend of 0.37 per share on Wednesday, September 23rd. This represents a c) dividend on an annualized basis and a yield of 1.7%. The ex-dividend date is Wednesday, September 9th. This is a 5.7% increase from Avnet’s previous quarterly dividend of $0.35.

Avnet has increased its dividend by an average of 0.1%per year over the last three years and has raised its dividend annually for the last 12 consecutive years. Avnet has a dividend payout ratio of 27.8% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Avnet to earn $10.35 per share next year, which means the company should continue to be able to cover its $1.40 annual dividend with an expected future payout ratio of 13.5%.

Avnet Price Performance

NASDAQ AVT opened at $86.89 on Friday. Avnet has a 52 week low of $44.25 and a 52 week high of $100.00. The company has a current ratio of 1.78, a quick ratio of 0.97 and a debt-to-equity ratio of 0.49. The stock has a market cap of $7.13 billion, a price-to-earnings ratio of 21.78, a price-to-earnings-growth ratio of 0.29 and a beta of 1.09. The company has a 50-day moving average price of $89.39 and a two-hundred day moving average price of $78.19.

Avnet (NASDAQ:AVT) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $2.28 EPS for the quarter, beating the consensus estimate of $1.80 by $0.48. The company had revenue of $8.30 billion for the quarter, compared to analyst estimates of $7.56 billion. Avnet had a net margin of 1.21% and a return on equity of 9.57%. Avnet’s revenue was up 47.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.81 earnings per share. Avnet has set its Q1 2027 guidance at 2.800-2.900 EPS. Analysts forecast that Avnet will post 9.66 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms recently commented on AVT. Weiss Ratings upgraded Avnet from a “hold (c+)” rating to a “buy (b)” rating in a research report on Friday, August 14th. Bank of America upgraded Avnet from an “underperform” rating to a “neutral” rating and boosted their price target for the stock from $66.00 to $96.00 in a research report on Wednesday, May 13th. Wells Fargo & Company increased their price target on Avnet from $70.00 to $72.00 and gave the stock an “underweight” rating in a research note on Monday, July 20th. Truist Financial raised their price target on Avnet from $95.00 to $110.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Finally, Wall Street Zen raised Avnet from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 25th. Two research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $93.25.

Avnet Company Profile

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.