Avnet (NASDAQ:AVT) Reaches New 12-Month High – Should You Buy?

Avnet, Inc. (NASDAQ:AVT) shares reached a new 52-week high during trading on Wednesday. The stock traded as high as $101.55 and last traded at $101.66, with a volume of 297372 shares trading hands. The stock had previously closed at $98.25.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Wall Street Zen upgraded Avnet from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 25th. Weiss Ratings upgraded shares of Avnet from a “hold (c+)” rating to a “buy (b)” rating in a research note on Friday, August 14th. Truist Financial upped their price objective on Avnet from $95.00 to $110.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Wells Fargo & Company raised their target price on shares of Avnet from $70.00 to $72.00 and gave the company an “underweight” rating in a research note on Monday, July 20th. Finally, Zacks Research raised Avnet from a “hold” rating to a “strong-buy” rating in a report on Friday, August 7th. Two research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $93.25.

Avnet Stock Down 0.2%

The stock has a 50-day moving average of $92.03 and a 200 day moving average of $83.03. The company has a market cap of $8.28 billion, a P/E ratio of 25.29, a PEG ratio of 0.30 and a beta of 1.10. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.78 and a quick ratio of 0.97.

Avnet (NASDAQ:AVT) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $2.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.80 by $0.48. The business 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%. The firm’s revenue for the quarter was up 47.7% on a year-over-year basis. During the same quarter last year, the business posted $0.81 EPS. Avnet has set its Q1 2027 guidance at 2.800-2.900 EPS. Research analysts anticipate that Avnet, Inc. will post 10.45 earnings per share for the current year.

Avnet Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 23rd. Investors of record on Wednesday, September 9th were issued a dividend of $0.37 per share. This is a boost from Avnet’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend was Wednesday, September 9th. This represents a $1.48 annualized dividend and a dividend yield of 1.5%. Avnet’s payout ratio is presently 37.09%.

Insiders Place Their Bets

In other news, SVP Michael Ryan Mccoy sold 32,052 shares of the company’s stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $91.10, for a total transaction of $2,919,937.20. Following the completion of the transaction, the senior vice president directly owned 76,674 shares in the company, valued at approximately $6,985,001.40. This represents a 29.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Philip R. Gallagher sold 51,900 shares of the company’s stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $98.46, for a total transaction of $5,110,074.00. Following the completion of the transaction, the chief executive officer owned 168,923 shares of the company’s stock, valued at approximately $16,632,158.58. This trade represents a 23.50% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 1.90% of the company’s stock.

Institutional Investors Weigh In On Avnet

Large investors have recently added to or reduced their stakes in the business. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in Avnet in the 2nd quarter valued at about $25,000. State of Wyoming bought a new position in shares of Avnet during the second quarter valued at about $37,000. Hantz Financial Services Inc. boosted its stake in shares of Avnet by 62.0% in the 4th quarter. Hantz Financial Services Inc. now owns 852 shares of the company’s stock worth $41,000 after buying an additional 326 shares during the last quarter. Summit Securities Group LLC grew its stake in Avnet by 32.1% in the 1st quarter. Summit Securities Group LLC now owns 765 shares of the company’s stock valued at $47,000 after purchasing an additional 186 shares during the period. Finally, Elevation Wealth Partners LLC grew its position in Avnet by 38.5% during the second quarter. Elevation Wealth Partners LLC now owns 666 shares of the company’s stock valued at $59,000 after buying an additional 185 shares during the period. Institutional investors and hedge funds own 95.78% of the company’s stock.

Avnet Company Profile

Avnet, Inc is a global technology distributor that helps manufacturers, engineers and other customers source electronic components and develop products. The company connects semiconductor and electronic-component suppliers with original equipment manufacturers, electronic manufacturing services providers and independent design firms.

Its offerings include semiconductors, embedded processors and computing products, memory, interconnect solutions, passive and electromechanical components, and related hardware and software.