Avnet (AVT) Receiving Positive News Coverage, AlphaOne Reports

News articles about Avnet (NYSE:AVT) have trended positive this week, Alpha One Sentiment reports. The research firm, a subsidiary of Accern, scores the sentiment of press coverage by analyzing more than 20 million blog and news sources in real-time. Alpha One ranks coverage of public companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Avnet earned a news impact score of 0.36 on Alpha One’s scale. Alpha One also gave news articles about the technology company an impact score of 84 out of 100, indicating that recent press coverage is very likely to have an impact on the company’s share price in the immediate future.

Here are some of the media stories that may have impacted Alpha One Sentiment Analysis’s analysis:

Insider Buying and Selling by Quarter for Avnet (NYSE:AVT)

Avnet (NYSE AVT) traded up 1.06% during trading on Monday, hitting $39.00. The stock had a trading volume of 1,130,529 shares. Avnet has a 52 week low of $35.96 and a 52 week high of $51.50. The company has a 50-day moving average of $37.48 and a 200 day moving average of $43.98. The company has a market cap of $4.87 billion, a price-to-earnings ratio of 9.37 and a beta of 1.03.

Avnet (NYSE:AVT) last issued its earnings results on Thursday, April 27th. The technology company reported $0.88 EPS for the quarter, beating the consensus estimate of $0.86 by $0.02. Avnet had a return on equity of 9.24% and a net margin of 2.83%. The business had revenue of $4.44 billion for the quarter, compared to the consensus estimate of $4.46 billion. During the same period last year, the business posted $1.01 EPS. The company’s revenue was up 8.8% compared to the same quarter last year. On average, equities research analysts anticipate that Avnet will post $3.17 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 19th. Shareholders of record on Tuesday, June 6th will be paid a dividend of $0.18 per share. The ex-dividend date is Friday, June 2nd. This represents a $0.72 annualized dividend and a yield of 1.85%. Avnet’s dividend payout ratio is 17.27%.

Several equities research analysts have recently issued reports on AVT shares. ValuEngine downgraded shares of Avnet from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Goldman Sachs Group, Inc. (The) cut Avnet from a “neutral” rating to a “sell” rating and cut their price objective for the company from $47.00 to $43.00 in a report on Wednesday, March 1st. Citigroup Inc. reissued a “sell” rating and set a $31.00 price objective on shares of Avnet in a report on Friday, April 28th. Longbow Research cut Avnet from a “buy” rating to a “neutral” rating in a report on Friday, April 28th. Finally, SunTrust Banks, Inc. cut Avnet from a “buy” rating to a “hold” rating and cut their price target for the company from $53.00 to $39.00 in a report on Friday, April 28th. Five research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $42.50.

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In other Avnet news, CFO Kevin M. Moriarty bought 6,933 shares of the business’s stock in a transaction on Thursday, May 18th. The shares were acquired at an average cost of $36.08 per share, for a total transaction of $250,142.64. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director James A. Lawrence bought 408,451 shares of the business’s stock in a transaction on Friday, June 2nd. The shares were acquired at an average price of $36.99 per share, for a total transaction of $15,108,602.49. Following the completion of the purchase, the director now owns 416,549 shares in the company, valued at approximately $15,408,147.51. The disclosure for this purchase can be found here. Company insiders own 1.47% of the company’s stock.

About Avnet

Avnet, Inc is a distributor of electronic components, enterprise computer, networking and storage products and software, and embedded subsystems. The Company operates through Electronics Marketing (EM) segment. The EM segment markets and sells semiconductors; interconnect, passive and electromechanical devices (IP&E), and embedded products to a customer base serving various end markets.

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