Avnet (NASDAQ:AVT) Price Target Raised to $50.25 at Zacks Investment Research

Avnet (NASDAQ:AVTGet Rating) had its target price upped by Zacks Investment Research to $50.25 in a research note issued on Thursday, 24/7 WallStreet reports. Zacks Investment Research‘s target price points to a potential upside of 3.82% from the company’s previous close.

A number of other research analysts also recently weighed in on AVT. Wells Fargo & Company upped their price target on Avnet from $40.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Citigroup boosted their price objective on Avnet from $45.00 to $50.00 and gave the stock a “neutral” rating in a report on Tuesday. Finally, Truist Financial decreased their price objective on Avnet from $45.00 to $41.00 and set a “hold” rating for the company in a report on Friday, April 8th. Five equities research analysts have rated the stock with a hold rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Avnet presently has a consensus rating of “Hold” and a consensus target price of $47.71.

Shares of NASDAQ:AVT opened at $48.40 on Thursday. The company has a market capitalization of $4.73 billion, a price-to-earnings ratio of 9.15, a P/E/G ratio of 0.19 and a beta of 1.27. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.02 and a quick ratio of 1.12. The business’s 50-day moving average is $43.54 and its 200-day moving average is $41.59. Avnet has a 1 year low of $35.71 and a 1 year high of $50.19.

Avnet (NASDAQ:AVTGet Rating) last announced its quarterly earnings data on Wednesday, April 27th. The company reported $2.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.52 by $0.63. The company had revenue of $6.49 billion for the quarter, compared to the consensus estimate of $5.71 billion. Avnet had a return on equity of 14.40% and a net margin of 2.29%. The firm’s revenue was up 32.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.74 EPS. Analysts anticipate that Avnet will post 6.83 EPS for the current year.

In other Avnet news, Director William H. Schumann sold 3,856 shares of the stock in a transaction on Wednesday, May 4th. The stock was sold at an average price of $45.20, for a total transaction of $174,291.20. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 1.10% of the company’s stock.

Hedge funds have recently modified their holdings of the stock. Duncker Streett & Co. Inc. purchased a new stake in shares of Avnet in the fourth quarter worth $25,000. Confluence Wealth Services Inc. bought a new position in Avnet in the fourth quarter valued at $27,000. Quantbot Technologies LP bought a new position in Avnet in the first quarter valued at $38,000. Ellevest Inc. increased its stake in Avnet by 168.7% in the fourth quarter. Ellevest Inc. now owns 986 shares of the company’s stock valued at $41,000 after acquiring an additional 619 shares during the last quarter. Finally, Exchange Traded Concepts LLC increased its stake in Avnet by 163.8% in the fourth quarter. Exchange Traded Concepts LLC now owns 1,216 shares of the company’s stock valued at $50,000 after acquiring an additional 755 shares during the last quarter. Institutional investors own 96.44% of the company’s stock.

About Avnet (Get Rating)

Avnet, Inc, a technology solutions company, markets, sells, and distributes electronic components. The company operates through two segments, Electronic Components and Farnell. The Electronic Components segment markets, sells, and distributes semiconductors; interconnect, passive, and electromechanical devices; and other integrated components from electronic component manufacturers.

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