AVX (NYSE:AVX) Rating Lowered to Sell at ValuEngine

ValuEngine lowered shares of AVX (NYSE:AVX) from a hold rating to a sell rating in a research report sent to investors on Saturday, ValuEngine reports.

Separately, Zacks Investment Research lowered AVX from a hold rating to a sell rating in a report on Monday, July 15th.

NYSE:AVX opened at $14.27 on Friday. The stock has a market capitalization of $2.45 billion, a price-to-earnings ratio of 8.86 and a beta of 1.16. The company has a fifty day simple moving average of $15.71. AVX has a 12 month low of $14.14 and a 12 month high of $21.29.

AVX (NYSE:AVX) last posted its earnings results on Friday, July 26th. The electronics maker reported $0.32 EPS for the quarter, beating the consensus estimate of $0.30 by $0.02. The firm had revenue of $402.00 million for the quarter, compared to analyst estimates of $418.90 million. AVX had a return on equity of 11.45% and a net margin of 15.55%. AVX’s revenue for the quarter was down 11.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.33 earnings per share. On average, equities research analysts forecast that AVX will post 1.01 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Thursday, August 1st will be issued a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a dividend yield of 3.22%. The ex-dividend date is Wednesday, July 31st. AVX’s payout ratio is 28.57%.

Hedge funds have recently modified their holdings of the business. Advisor Group Inc. lifted its position in AVX by 117.8% in the 4th quarter. Advisor Group Inc. now owns 2,428 shares of the electronics maker’s stock worth $37,000 after buying an additional 1,313 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in AVX by 4.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 6,117,418 shares of the electronics maker’s stock worth $93,290,000 after buying an additional 272,455 shares during the last quarter. Geode Capital Management LLC lifted its position in AVX by 5.5% in the 4th quarter. Geode Capital Management LLC now owns 528,377 shares of the electronics maker’s stock worth $8,057,000 after buying an additional 27,328 shares during the last quarter. Metropolitan Life Insurance Co. NY lifted its position in AVX by 385.5% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 16,007 shares of the electronics maker’s stock worth $244,000 after buying an additional 12,710 shares during the last quarter. Finally, Legal & General Group Plc lifted its position in AVX by 7.4% in the 4th quarter. Legal & General Group Plc now owns 20,240 shares of the electronics maker’s stock worth $308,000 after buying an additional 1,397 shares during the last quarter. 25.47% of the stock is currently owned by institutional investors.

About AVX

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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To view ValuEngine’s full report, visit ValuEngine’s official website.

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