November 29, 2016 - By kentuckypostne · 0 Comments
Avnet Inc (NYSE:AVT) institutional sentiment increased to 0.98 in 2016 Q2. Its up 0.09, from 0.89 in 2016Q1. The ratio has increased, as 151 investment managers started new and increased stock positions, while 169 cut down and sold their stock positions in Avnet Inc. The investment managers in our partner’s database reported: 118.58 million shares, down from 125.12 million shares in 2016Q1. Also, the number of investment managers holding Avnet Inc in their top 10 stock positions decreased from 5 to 2 for a decrease of 3. Sold All: 44 Reduced: 125 Increased: 125 New Position: 26.
Avnet, Inc. is a distributor of electronic components, enterprise computer, networking and storage products and software, information technology solutions and services, and embedded subsystems. The company has a market cap of $5.82 billion. The Firm operates through two divisions: Electronics Marketing and Technology Solutions (TS). It has a 13.67 P/E ratio. The EM segment markets and sells semiconductors and interconnect, passive and electromechanical devices (IP&E), and embedded products to a customer base serving various end markets.
The stock closed at $46.09 during the last session. It is down 3.83% since April 26, 2016 and is uptrending. It has underperformed by 1.43% the S&P500.
Analysts await Avnet, Inc. (NYSE:AVT) to report earnings on January, 26. They expect $0.75 earnings per share, down 38.52% or $0.47 from last year’s $1.22 per share. AVT’s profit will be $94.71M for 15.36 P/E if the $0.75 EPS becomes a reality. After $0.91 actual earnings per share reported by Avnet, Inc. for the previous quarter, Wall Street now forecasts -17.58% negative EPS growth.
According to Zacks Investment Research, “Avnet Inc. is one of the world’s largest industrial distributors of electronic components and computer products. The company is a vital link in the chain that connects suppliers of semiconductors, interconnect products, passive and electromechanical devices to original equipment manufacturers and contract manufacturers that design and build the electronic equipment for end-market use, and to other industrial customers. The company markets, distributes and optimizes the supply-chain and provides design-chain services for the products of the world’s leading electronic component suppliers, enterprise computer manufacturers and embedded subsystem providers. Avnet brings a breadth and depth of capabilities, such as maximizing inventory efficiency, managing logistics, assembling products and providing engineering design assistance for its one lakhs customers, accelerating their growth through cost-effective, value-added services and solutions.”
Blue Harbour Group L.P. holds 10.4% of its portfolio in Avnet, Inc. for 6.19 million shares. Cacti Asset Management Llc owns 277,880 shares or 2.73% of their US portfolio. Moreover, Denali Advisors Llc has 2.65% invested in the company for 379,900 shares. The Pennsylvania-based Snow Capital Management Lp has invested 2.52% in the stock. Speece Thorson Capital Group Inc, a Minnesota-based fund reported 242,105 shares.#img1#
Ratings analysis reveals 14% of Avnet Inc.’s analysts are positive. Out of 7 Wall Street analysts rating Avnet Inc., 1 give it “Buy”, 2 “Sell” rating, while 4 recommend “Hold”. The lowest target is $35 while the high is $50. The stock’s average target of $41.80 is -9.31% below today’s ($46.09) share price. AVT was included in 14 notes of analysts from August 6, 2015. Citigroup maintained Avnet, Inc. (NYSE:AVT) rating on Thursday, August 11. Citigroup has “Sell” rating and $37 price target. Longbow upgraded Avnet, Inc. (NYSE:AVT) on Friday, October 21 to “Buy” rating. The firm has “Sell” rating by Cross Research given on Tuesday, September 20. The stock of Avnet, Inc. (NYSE:AVT) earned “Buy” rating by Longbow on Friday, January 22. The stock of Avnet, Inc. (NYSE:AVT) has “Sell” rating given on Thursday, September 22 by Citigroup. The rating was upgraded by Goldman Sachs on Tuesday, June 7 to “Neutral”. The rating was downgraded by Brean Capital on Friday, April 29 to “Hold”. Bank of America initiated Avnet, Inc. (NYSE:AVT) on Wednesday, April 27 with “Neutral” rating. Stifel Nicolaus downgraded the stock to “Hold” rating in Tuesday, September 20 report.
Avnet, Inc. (Avnet), incorporated on July 22, 1955, is a distributor of electronic components, enterprise computer, networking and storage products and software, information technology (IT) solutions and services, and embedded subsystems. The Firm operates through two divisions: Electronics Marketing (EM) and Technology Solutions (TS). The EM segment markets and sells semiconductors and interconnect, passive and electromechanical devices (IP&E), and embedded products to a customer base serving various end markets. The TS segment focuses on the distribution of enterprise computing servers and systems, software, storage, services and solutions from the technology manufacturers and software developers. The TS segment also provides hard disk drives, microprocessor, motherboard and dynamic random access memory (DRAM) module technologies to manufacturers of general-purpose computers and system builders.
More news for Avnet, Inc. (NYSE:AVT) were recently published by: Businesswire.com, which released: “Avnet Names William Amelio Interim CEO” on July 11, 2016. Businesswire.com‘s article titled: “Avnet Acquires Hackster Inc.” and published on November 14, 2016 is yet another important article.
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