Fmr LLC Buys New Stake in AVX Corporation (NYSE:AVX)
Fmr LLC bought a new stake in AVX Corporation (NYSE:AVX) during the first quarter, Holdings Channel reports. The fund bought 44,285 shares of the electronics maker’s stock, valued at approximately $725,000.
Several other hedge funds have also added to or reduced their stakes in AVX. Heartland Advisors Inc. boosted its position in AVX Corporation by 3.9% in the first quarter. Heartland Advisors Inc. now owns 11,738 shares of the electronics maker’s stock valued at $192,000 after buying an additional 446 shares in the last quarter. Campbell & CO Investment Adviser LLC purchased a new position in AVX Corporation during the first quarter valued at $196,000. Sei Investments Co. purchased a new position in AVX Corporation during the first quarter valued at $245,000. Rational Advisors LLC purchased a new position in AVX Corporation during the first quarter valued at $311,000. Finally, Oxford Asset Management purchased a new position in AVX Corporation during the first quarter valued at $322,000. Hedge funds and other institutional investors own 24.65% of the company’s stock.
AVX Corporation (NYSE:AVX) opened at 17.59 on Tuesday. The firm’s 50-day moving average price is $16.87 and its 200 day moving average price is $16.42. AVX Corporation has a 12-month low of $13.08 and a 12-month high of $18.44. The stock has a market cap of $2.96 billion, a PE ratio of 23.14 and a beta of 0.81.
AVX Corporation (NYSE:AVX) last announced its earnings results on Wednesday, July 26th. The electronics maker reported $0.19 EPS for the quarter, meeting analysts’ consensus estimates of $0.19. AVX Corporation had a return on equity of 5.72% and a net margin of 9.46%. The business had revenue of $331.35 million during the quarter, compared to analysts’ expectations of $328 million. During the same quarter in the prior year, the firm earned $0.19 earnings per share. The business’s revenue was up 5.3% compared to the same quarter last year. Analysts anticipate that AVX Corporation will post $0.76 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Wednesday, August 16th will be issued a dividend of $0.11 per share. The ex-dividend date is Monday, August 14th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 2.50%. AVX Corporation’s payout ratio is currently 58.67%.
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Several research firms have weighed in on AVX. BidaskClub upgraded AVX Corporation from a “sell” rating to a “hold” rating in a report on Thursday, August 3rd. Stifel Nicolaus restated a “hold” rating and set a $17.00 price target on shares of AVX Corporation in a report on Friday, July 28th. Finally, Zacks Investment Research cut AVX Corporation from a “buy” rating to a “sell” rating in a report on Wednesday, May 3rd.
About AVX Corporation
AVX Corporation (AVX) is a manufacturer and supplier and reseller of a line of passive electronic components, interconnect devices and related products. AVX operates in three segments: Passive Components, Kyocera Electronic Devices (KED Resale) and Interconnect. The Passive Components segment consists of surface mount and leaded ceramic capacitors, surface mount and leaded tantalum capacitors, surface mount and leaded film capacitors, thick and thin film packages of multiple passive integrated components, thermistors, inductors and resistive products.
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