Avnet (NYSE:AVT) is set to release its earnings data after the market closes on Thursday, August 8th. Analysts expect Avnet to post earnings of $1.00 per share for the quarter. Persons that wish to listen to the company’s earnings conference call can do so using this link.
Avnet stock opened at $41.80 on Wednesday. Avnet has a 12 month low of $33.55 and a 12 month high of $49.40. The business’s 50 day moving average is $44.09.
Several research firms have recently commented on AVT. TheStreet upgraded Avnet from a “c+” rating to a “b-” rating in a research note on Wednesday, April 10th. Zacks Investment Research upgraded Avnet from a “sell” rating to a “hold” rating in a research report on Tuesday, April 30th. Deutsche Bank assumed coverage on Avnet in a research report on Tuesday, June 11th. They issued a “hold” rating and a $44.00 price objective for the company. Finally, Citigroup set a $47.00 price objective on Avnet and gave the stock a “hold” rating in a research report on Friday, April 26th. Three analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $48.00.
In other Avnet news, Director James A. Lawrence sold 20,620 shares of the stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $45.20, for a total value of $932,024.00. Following the completion of the transaction, the director now owns 500,000 shares in the company, valued at $22,600,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.65% of the company’s stock.
Avnet, Inc, together with its subsidiaries, distributes electronic components worldwide. The company operates through two segments, Electronic Components and Premier Farnell. The Electronic Components segment markets and sells semiconductors; electronic components, including interconnect, passive and electromechanical devices; and other integrated components from electronic component manufacturers.
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