AVX (AVX) Upgraded to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of AVX (NYSE:AVX) from a hold rating to a buy rating in a research report sent to investors on Tuesday morning. Zacks Investment Research currently has $18.00 price objective on the electronics maker’s stock.

According to Zacks, “AVX Corporation is a leading worldwide manufacturer and supplier of a broad line of passive electronic components and related products. The company’s passive electronic component sales include ceramic and tantalum capacitors, both in leaded and surface-mount versions, film capacitors, ferrites, varistors and non-linear resistors manufactured in the company’s facilities. The company also manufactures and sells electronic connectors and distributes and sells certain connectors. “

Separately, ValuEngine downgraded AVX from a buy rating to a hold rating in a report on Thursday, September 27th.

Shares of NYSE:AVX opened at $16.19 on Tuesday. The stock has a market cap of $2.75 billion, a P/E ratio of 13.91 and a beta of 1.04. AVX has a one year low of $14.21 and a one year high of $21.48.

AVX (NYSE:AVX) last announced its earnings results on Wednesday, October 24th. The electronics maker reported $0.43 EPS for the quarter, beating the consensus estimate of $0.33 by $0.10. The business had revenue of $456.33 million for the quarter, compared to the consensus estimate of $462.00 million. AVX had a return on equity of 8.77% and a net margin of 3.73%. The company’s revenue was up 29.4% on a year-over-year basis. During the same period last year, the business posted $0.21 EPS. As a group, research analysts predict that AVX will post 1.44 earnings per share for the current year.

A number of hedge funds have recently bought and sold shares of AVX. Bank of New York Mellon Corp increased its holdings in AVX by 1.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,032,330 shares of the electronics maker’s stock worth $16,177,000 after purchasing an additional 12,384 shares during the last quarter. Schwab Charles Investment Management Inc. increased its holdings in AVX by 8.3% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 515,638 shares of the electronics maker’s stock worth $8,081,000 after purchasing an additional 39,600 shares during the last quarter. BlackRock Inc. increased its holdings in shares of AVX by 2.1% in the 2nd quarter. BlackRock Inc. now owns 3,462,679 shares of the electronics maker’s stock valued at $54,257,000 after acquiring an additional 71,122 shares during the last quarter. BlueMountain Capital Management LLC increased its holdings in shares of AVX by 20.7% in the 2nd quarter. BlueMountain Capital Management LLC now owns 22,782 shares of the electronics maker’s stock valued at $357,000 after acquiring an additional 3,906 shares during the last quarter. Finally, Renaissance Technologies LLC increased its holdings in shares of AVX by 86.7% in the 2nd quarter. Renaissance Technologies LLC now owns 344,900 shares of the electronics maker’s stock valued at $5,405,000 after acquiring an additional 160,200 shares during the last quarter. Institutional investors own 25.11% of the company’s stock.

AVX Company Profile

AVX Corporation, together with its subsidiaries, manufactures, supplies, and resells various electronic components, interconnect devices, sensing and control devices, and related products worldwide. The company operates through three segments: Electronic Components; Interconnect, Sensing and Control Devices; and Kyocera Electronic Devices Resale.

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