Avnet, Inc., a technology solutions company, markets, sells, and distributes electronic components. The company operates through two segments, Electronic Components and Farnell. The Electronic Components segment markets, sells, and distributes semiconductors; interconnect, passive, and electromechanical devices; and other integrated components from electronic component manufacturers. It also offers design chain support that provides engineers with technical design solutions; engineering and technical resources to support product design, bill of materials development, and technical education and training; and supply chain solutions that provide support and logistical services to original equipment manufacturers, electronic manufacturing service providers, and electronic component manufacturers. In addition, this segment provides integrated solutions, such as technical design, integration, and assembly of embedded products, and systems and solutions primarily for industrial applications, as well as for intelligent embedded and innovative embedded display solutions comprising touch and passive displays. Further, it develops and manufactures standard board and industrial subsystems, and application-specific devices that enable it to produce systems tailored to specific customer requirements. This segment serves various markets, such as automotive, medical, defense, aerospace, telecommunications, industrial, and digital editing. The Farnell segment distributes kits, tools, and electronic and industrial automation components, as well as test and measurement products to engineers and entrepreneurs. It has operations in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. Avnet, Inc. was founded in 1921 and is headquartered in Phoenix, Arizona.
IPO Year:
Exchange: NASDAQ
Website: avnet.com
Date | Price Target | Rating | Analyst |
---|---|---|---|
9/16/2022 | $45.00 → $35.00 | Equal Weight → Underweight | Wells Fargo |
7/14/2022 | $46.00 | Underweight | JP Morgan |
1/27/2022 | $52.00 → $57.00 | Strong Buy | Raymond James |
10/7/2021 | $49.00 → $43.00 | Neutral | BofA Securities |
8/12/2021 | $50.00 → $52.00 | Strong Buy | Raymond James |
Avnet (NASDAQ:AVT) has announced Rebeca Obregon as the new president of Farnell, an Avnet company, effective July 1, 2024. Farnell is a high-service electronics components distributor with a comprehensive portfolio of products and supported by an international supply chain. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240625297527/en/Avnet names Rebeca Obregon new president of Farnell. (Photo: Business Wire) "Since joining Avnet's leadership team last year, Rebeca has shown her deep commitment to delivering results for our suppliers, customers, partners, and employees," said Phil Gallagher, CEO, Avnet. "Farnell remains a criti
Avnet (NASDAQ:AVT), a global technology solutions company, today announced that the Company will participate in the following investor conferences in June: Stifel 2024 Cross Sector Insight Conference – June 4, 2024, Boston. Avnet's Chief Executive Officer Phil Gallagher and Chief Financial Officer Ken Jacobson will participate in a fireside chat at 1:15 pm ET. BofA Securities 2024 Global Technology Conference – June 6, 2024, San Francisco. Avnet's Chief Financial Officer Ken Jacobson and Vice President, Treasury & Investor Relations Joe Burke will participate in a fireside chat at 8:40 am PT. Live and archived webcasts of both presentations can be accessed via Avnet's Investor Rela
Avnet, Inc. (NASDAQ:AVT), a leading global technology solutions provider, today announced that on May 15, 2024, its Board of Directors approved a regular quarterly cash dividend of $0.31 per share. The dividend will be paid on June 19, 2024, to shareholders of record as of the close of business on June 5, 2024. About Avnet As a leading global technology distributor and solutions provider, Avnet has served customers' evolving needs for more than a century. Decade after decade, Avnet helps its customers and suppliers around the world realize the transformative possibilities of technology. Learn more about Avnet at www.avnet.com. (AVT_IR) Visit the Avnet Investor Relations website at ir.
Third quarter sales of $5.7 billion and diluted EPS of $0.97 Adjusted diluted EPS of $1.10 Electronic Components operating margin of 4.1% Avnet, Inc. (NASDAQ:AVT) today announced results for its third quarter ended March 30, 2024. "In the third quarter, we delivered results that were in line with our expectations, amidst economic softness and lower demand in the markets we serve. I am proud of our team's effort to deliver robust cash flow from operations as the benefits from our countercyclical balance sheet started to take effect this quarter," said Avnet Chief Executive Officer Phil Gallagher. "Our fourth quarter outlook reflects a continuation of these market conditions. Looking
New partnership will be foundational to Panasas' global growth and expansion Panasas, a leading data solutions provider for high-performance computing (HPC) and artificial intelligence (AI), and Avnet (NASDAQ:AVT) today announced an agreement enabling Panasas to use Avnet Integrated, the global advanced systems integration arm of Avnet, as its primary manufacturing and fulfillment operations partner. The partnership will enable Panasas to benefit from Avnet's global supply chain and worldwide manufacturing footprint, strengthening Panasas' competitive position and ability to support its growth across the global HPC and AI storage market. "Avnet Integrated excels in optimizing IT product
Conference call and webcast to follow at 9:00 a.m. PT / Noon ET Avnet (NASDAQ:AVT), a global technology solutions company, today announced it will report financial results for the third quarter fiscal year 2024 on May 1, 2024 before the market opens. Following the earnings release, Avnet's Chief Executive Officer Phil Gallagher and Chief Financial Officer Ken Jacobson will host a webcast and conference call at 9:00 a.m. PT / Noon ET to discuss the financial results and provide a corporate update. Conference Call and Webcast Details To participate in the live call, dial 877-407-8112 or 201-689-8840. The live and archived webcast along with slides can be accessed via Avnet's Investor Re
Avnet (NASDAQ:AVT), a leading global technology solutions provider, today announced it will participate in the upcoming 45th Annual Raymond James Institutional Investors Conference on March 4, 2024. Avnet's Chief Financial Officer Ken Jacobson and Vice President, Treasury & Investor Relations Joe Burke will participate in a fireside chat at 11:00 a.m. ET. The live and archived webcast of the presentation can be accessed via Avnet's Investor Relations web page at https://ir.avnet.com. About Avnet As a leading global technology distributor and solutions provider, Avnet has served customers' evolving needs for more than a century. Decade after decade, Avnet helps its customers and suppli
Avnet, Inc. (NASDAQ:AVT), a leading global technology solutions provider, today announced that on Feb. 15, 2024, its Board of Directors approved a regular quarterly cash dividend of $0.31 per share. The dividend will be paid on March 20, 2024, to shareholders of record as of the close of business on March 6, 2024. About Avnet As a leading global technology distributor and solutions provider, Avnet has served customers' evolving needs for more than a century. Decade after decade, Avnet helps its customers and suppliers around the world realize the transformative possibilities of technology. Learn more about Avnet at www.avnet.com. (AVT_IR) Visit the Avnet Investor Relations website at
Second quarter sales of $6.2 billion and diluted EPS of $1.28 Adjusted diluted EPS of $1.40 Electronic Components operating margin of 4.3% Avnet, Inc. (NASDAQ:AVT) today announced results for its second quarter ended December 30, 2023. Commenting on the Company's financial results, Avnet Chief Executive Officer Phil Gallagher stated, "We are pleased with the second quarter results, which were in line with our expectations. Our team continues to execute well despite the current economic environment and related challenges. We are confident that our strong competitive position and experience managing through many industry cycles will serve us well as we navigate through the next few qu
Conference call and webcast to follow at 8:00 a.m. PT / 11:00 a.m. ET Avnet (NASDAQ:AVT), a global technology solutions company, today announced it will report financial results for the second quarter fiscal year 2024 on January 31, 2024 before the market opens. Following the earnings release, Avnet's Chief Executive Officer Phil Gallagher and Chief Financial Officer Ken Jacobson will host a webcast and conference call at 8:00 a.m. PT / 11:00 a.m. ET to discuss the financial results and provide a corporate update. Conference Call and Webcast Details To participate in the live call, dial 877-407-8112 or 201-689-8840. The live and archived webcast along with slides can be accessed via A
The Avnet (NASDAQ:AVT) Board of Directors (BOD) voted to officially appoint Ken A. Jacobson as the Company's Chief Financial Officer (CFO) reporting to Avnet's Chief Executive Officer Phil Gallagher. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220906005185/en/New Avnet Chief Financial Officer Ken A. Jacobson (Photo: Business Wire) Jacobson, age 44, joined Avnet in 2013 as Vice President and Corporate Controller and served as Avnet's interim CFO in 2017-2018. As corporate controller, Jacobson had global leadership responsibility for the finance organizations within each of Avnet's business units, as well as management oversight
Former CFO of Micron and Lam Research Brings Extensive Experience in Operations, Finance and Technology to Velodyne Lidar's Board Velodyne Lidar, Inc. (NASDAQ:VLDR, VLDRW))), today announced that its Board of Directors has appointed Ernest E. Maddock to the Board, effective January 13, 2022. Mr. Maddock has been appointed as a Class III director and a member of the Board's Audit Committee. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220117005549/en/(Photo: Business Wire) Mr. Maddock is an operations, technology and corporate finance executive with over 35 years of leadership experience, including 10 as a public company CFO. F
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Wells Fargo downgraded Avnet from Equal Weight to Underweight and set a new price target of $35.00 from $45.00 previously
JP Morgan initiated coverage of Avnet with a rating of Underweight and set a new price target of $46.00
Raymond James reiterated coverage of Avnet with a rating of Strong Buy and set a new price target of $57.00 from $52.00 previously
BofA Securities reiterated coverage of Avnet with a rating of Neutral and set a new price target of $43.00 from $49.00 previously
Raymond James reiterated coverage of Avnet with a rating of Strong Buy and set a new price target of $52.00 from $50.00 previously
Loop Capital upgraded Avnet from Hold to Buy and set a new price target of $53.00 from $39.00 previously
Raymond James reiterated coverage of Avnet with a rating of Strong Buy and set a new price target of $50.00 from $47.00 previously
Raymond James reiterated coverage of Avnet with a rating of Outperform and set a new price target of $50.00 from $47.00 previously
Loop Capital reiterated coverage of Avnet with a rating of Hold and set a new price target of $39.00 from $32.00 previously
Raymond James reiterated coverage of Avnet with a rating of Strong Buy and set a new price target of $47.00 from $35.00 previously
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Avnet, Inc. (NASDAQ:AVT), a leading global technology solutions provider, today announced that on May 15, 2024, its Board of Directors approved a regular quarterly cash dividend of $0.31 per share. The dividend will be paid on June 19, 2024, to shareholders of record as of the close of business on June 5, 2024. About Avnet As a leading global technology distributor and solutions provider, Avnet has served customers' evolving needs for more than a century. Decade after decade, Avnet helps its customers and suppliers around the world realize the transformative possibilities of technology. Learn more about Avnet at www.avnet.com. (AVT_IR) Visit the Avnet Investor Relations website at ir.
Third quarter sales of $5.7 billion and diluted EPS of $0.97 Adjusted diluted EPS of $1.10 Electronic Components operating margin of 4.1% Avnet, Inc. (NASDAQ:AVT) today announced results for its third quarter ended March 30, 2024. "In the third quarter, we delivered results that were in line with our expectations, amidst economic softness and lower demand in the markets we serve. I am proud of our team's effort to deliver robust cash flow from operations as the benefits from our countercyclical balance sheet started to take effect this quarter," said Avnet Chief Executive Officer Phil Gallagher. "Our fourth quarter outlook reflects a continuation of these market conditions. Looking
Conference call and webcast to follow at 9:00 a.m. PT / Noon ET Avnet (NASDAQ:AVT), a global technology solutions company, today announced it will report financial results for the third quarter fiscal year 2024 on May 1, 2024 before the market opens. Following the earnings release, Avnet's Chief Executive Officer Phil Gallagher and Chief Financial Officer Ken Jacobson will host a webcast and conference call at 9:00 a.m. PT / Noon ET to discuss the financial results and provide a corporate update. Conference Call and Webcast Details To participate in the live call, dial 877-407-8112 or 201-689-8840. The live and archived webcast along with slides can be accessed via Avnet's Investor Re
Avnet, Inc. (NASDAQ:AVT), a leading global technology solutions provider, today announced that on Feb. 15, 2024, its Board of Directors approved a regular quarterly cash dividend of $0.31 per share. The dividend will be paid on March 20, 2024, to shareholders of record as of the close of business on March 6, 2024. About Avnet As a leading global technology distributor and solutions provider, Avnet has served customers' evolving needs for more than a century. Decade after decade, Avnet helps its customers and suppliers around the world realize the transformative possibilities of technology. Learn more about Avnet at www.avnet.com. (AVT_IR) Visit the Avnet Investor Relations website at
Second quarter sales of $6.2 billion and diluted EPS of $1.28 Adjusted diluted EPS of $1.40 Electronic Components operating margin of 4.3% Avnet, Inc. (NASDAQ:AVT) today announced results for its second quarter ended December 30, 2023. Commenting on the Company's financial results, Avnet Chief Executive Officer Phil Gallagher stated, "We are pleased with the second quarter results, which were in line with our expectations. Our team continues to execute well despite the current economic environment and related challenges. We are confident that our strong competitive position and experience managing through many industry cycles will serve us well as we navigate through the next few qu
Conference call and webcast to follow at 8:00 a.m. PT / 11:00 a.m. ET Avnet (NASDAQ:AVT), a global technology solutions company, today announced it will report financial results for the second quarter fiscal year 2024 on January 31, 2024 before the market opens. Following the earnings release, Avnet's Chief Executive Officer Phil Gallagher and Chief Financial Officer Ken Jacobson will host a webcast and conference call at 8:00 a.m. PT / 11:00 a.m. ET to discuss the financial results and provide a corporate update. Conference Call and Webcast Details To participate in the live call, dial 877-407-8112 or 201-689-8840. The live and archived webcast along with slides can be accessed via A
Avnet, Inc. (NASDAQ:AVT), a leading global technology solutions provider, today announced that on Nov. 15, 2023, its Board of Directors approved a regular quarterly cash dividend of $.31 per share. The dividend will be paid on Dec. 20, 2023, to shareholders of record as of the close of business on Dec. 6, 2023. About Avnet As a leading global technology distributor and solutions provider, Avnet has served customers' evolving needs for more than a century. Decade after decade, Avnet helps its customers and suppliers around the world realize the transformative possibilities of technology. Learn more about Avnet at www.avnet.com. (AVT_IR) Visit the Avnet Investor Relations website at ir.
First quarter sales of $6.3 billion and diluted EPS of $2.25 Adjusted diluted EPS of $1.61 exceeded guidance Electronic Components operating margin of 4.6% increased 38 basis points year over year Avnet, Inc. (NASDAQ:AVT) today announced results for its first quarter ended September 30, 2023. Commenting on the Company's financial results, Avnet Chief Executive Officer Phil Gallagher stated, "We delivered better-than-expected results in the first quarter thanks to the strong performance of our Electronic Components business. Our team's continued execution and flexibility are resonating with both our customer and supplier partners, especially in today's market conditions. We remain fo
Conference call and webcast to follow at 1:30 p.m. PT / 4:30 p.m. ET Avnet (NASDAQ:AVT), a global technology solutions company, today announced it will report financial results for the first quarter fiscal year 2024 on November 1, 2023 after market close. Following the earnings release, Avnet's Chief Executive Officer Phil Gallagher and Chief Financial Officer Ken Jacobson will host a webcast and conference call at 1:30 p.m. PT / 4:30 p.m. ET to discuss the financial results and provide a corporate update. Conference Call and Webcast Details To participate in the live call, dial 877-407-8112 or 201-689-8840. The live and archived webcast along with slides can be accessed via Avnet's I
Avnet, Inc. (NASDAQ:AVT), a leading global technology distributor and solutions company, announced that its Board of Directors has approved a 7% increase in the quarterly cash dividend to $0.31 per share. The dividend will be paid on September 27, 2023 to shareholders of record as of the close of business on September 13, 2023. "We are pleased to announce an increase in our quarterly dividend, furthering our commitment to delivering sustainable shareholder returns as part of our capital allocation strategy," said Avnet Chief Executive Officer Phil Gallagher. "This increase follows a record EPS performance in our 2023 fiscal year and is a reflection of our confidence in our financial posit
As of May 29, 2024, three stocks in the information technology sector could be flashing a real warning to investors who value momentum as a key criteria in their trading decisions. The RSI is a momentum indicator, which compares a stock’s strength on days when prices go up to its strength on days when prices go down. When compared to a stock’s price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered overbought when the RSI is above 70, according to Benzinga Pro. Here's the latest list of major overbought players in this sector. Ooma, Inc. (NYSE:OOMA) On May 28, Ooma reported better-than-expected first-quarte
This past week, eight companies in KeyBanc analyst John Vinh’s semi-coverage universe reported, from which he highlighted vital takeaways. The companies included Advanced Micro Devices, Inc (NASDAQ:AMD), Lattice Semiconductor Corp (NASDAQ:LSCC), Monolithic Power Systems, Inc (NASDAQ:MPWR), NXP Semiconductors NV (NASDAQ:NXPI), ON Semiconductor Corp (NASDAQ:ON), Qualcomm Inc (NASDAQ:QCOM), Qorvo, Inc (NASDAQ:QRVO), and Skyworks Solutions, Inc (NASDAQ:SWKS). He noted analog cyclical semis show incremental signs of stabilization and bottoming, with booking trends improving and channel inventory further decreasing. Distributors Arrow Electronics, Inc (NYSE:ARW) and Avnet, Inc (NASDAQ:AVT) i
Truist Securities analyst William Stein maintains Avnet (NASDAQ:AVT) with a Hold and lowers the price target from $49 to $48.
Avnet, Inc. (NASDAQ:AVT) shares traded lower Wednesday after the company reported third-quarter results. The company reported adjusted earnings per share of $1.10, missing the street view of $1.11. Avnet reported quarterly sales of $5.654 billion, missing the analyst consensus of $5.707 billion. “In the third quarter, we delivered results that were in line with our expectations, amidst economic softness and lower demand in the markets we serve,” said Avnet Chief Executive Officer Phil Gallagher. Avnet reported a quarterly operating income margin of 3.4%, compared with 4.8% in the prior year quarter. Electronic Components operating margin of 4.1% fell 91 bps year over year. El
Avnet (NASDAQ:AVT) reported quarterly earnings of $1.10 per share which missed the analyst consensus estimate of $1.11 by 0.9 percent. This is a 45 percent decrease over earnings of $2.00 per share from the same period last year. The company reported quarterly sales of $5.65 billion which missed the analyst consensus estimate of $5.71 billion by 0.98 percent. This is a 13.22 percent decrease over sales of $6.51 billion the same period last year.
New partnership will be foundational to Panasas' global growth and expansionPanasas, a leading data solutions provider for high-performance computing (HPC) and artificial intelligence (AI), and Avnet (NASDAQ:AVT) today announced an agreement enabling Panasas to use Avnet Integrated, the global advanced systems integration arm of Avnet, as its primary manufacturing and fulfillment operations partner. The partnership will enable Panasas to benefit from Avnet's global supply chain and worldwide manufacturing footprint, strengthening Panasas' competitive position and ability to support its growth across the global HPC and AI storage market."Avnet Integrated excels in optimizing IT product develo
https://news.avnet.com/press-releases/press-release-details/2024/Avnet-Launches-Full-mmWave-Antenna-to-Bits-Prototyping--with-Latest-RFSoC-Explorer-Toolbox-Version-3.0-Release/default.aspx
Goldman Sachs analyst Mark Delaney maintains Avnet (NASDAQ:AVT) with a Sell and lowers the price target from $48 to $42.