Avnet (NYSE:AVT) declared a dividend on Tuesday, November 19th, Fidelity reports. Stockholders of record on Wednesday, December 4th will be given a dividend of 0.21 per share by the technology company on Friday, December 20th. The ex-dividend date is Tuesday, December 3rd.
NYSE AVT opened at $40.65 on Monday. Avnet has a 12 month low of $33.55 and a 12 month high of $49.03. The company’s 50-day moving average price is $40.73 and its 200-day moving average price is $42.52.
Avnet (NYSE:AVT) last issued its earnings results on Thursday, October 24th. The technology company reported $0.60 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.65 by ($0.05). The business had revenue of $4.63 billion for the quarter, compared to the consensus estimate of $4.56 billion. During the same quarter last year, the firm posted $1.03 EPS. Avnet’s quarterly revenue was down 9.0% compared to the same quarter last year.
Avnet declared that its Board of Directors has approved a stock buyback plan on Monday, August 19th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the technology company to repurchase up to 11% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.
Several equities analysts recently weighed in on the stock. Bank of America downgraded shares of Avnet from a “buy” rating to a “neutral” rating and set a $44.00 price target on the stock. in a report on Friday, October 25th. Longbow Research cut shares of Avnet from a “buy” rating to a “neutral” rating in a research note on Friday, October 4th. TheStreet cut shares of Avnet from a “b” rating to a “c+” rating in a research note on Thursday, August 8th. SunTrust Banks cut shares of Avnet from a “hold” rating to a “sell” rating and dropped their price objective for the stock from $39.00 to $35.00 in a research note on Friday, October 25th. Finally, Raymond James set a $45.00 price objective on shares of Avnet and gave the stock a “buy” rating in a research note on Friday, October 25th. One analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company. Avnet has a consensus rating of “Hold” and an average target price of $43.50.
Avnet Company Profile
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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