Out of 7 analysts covering Avnet Inc. (NYSE:AVT), 1 rate it a “Buy”, 2 “Sell”, while 4 “Hold”. This means 14% are positive. Avnet Inc. has been the topic of 12 analyst reports since January 22, 2016 according to StockzIntelligence Inc. Citigroup maintained the stock on September 22 with “Sell” rating. Below is a list of Avnet, Inc. (NYSE:AVT) latest ratings and price target changes.
22/09/2016 Broker: Citigroup Rating: Sell Old Target: $37.00 New Target: $35.00 Maintain
20/09/2016 Broker: Cross Research Old Rating: Hold New Rating: Sell Downgrade
20/09/2016 Broker: Stifel Nicolaus Old Rating: Buy New Rating: Hold Downgrade
11/08/2016 Broker: Citigroup Rating: Sell Old Target: $31.00 New Target: $37.00 Maintain
07/06/2016 Broker: Goldman Sachs Old Rating: Sell New Rating: Neutral Old Target: $39.00 New Target: $41.00 Upgrade
29/04/2016 Broker: Brean Capital Old Rating: Buy New Rating: Hold Downgrade
27/04/2016 Broker: Bank of America Rating: Neutral Initiate
The stock increased 0.69% or $0.28 during the last trading session, hitting $40.75. Avnet, Inc. (NYSE:AVT) has declined 1.28% since February 25, 2016 and is downtrending. It has underperformed by 12.54% the S&P500.
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 $5.24 billion. The Firm operates through two divisions: Electronics Marketing and Technology Solutions (TS). It has a 10.73 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.
Insitutional Activity: The institutional sentiment decreased to 0.89 in Q2 2016. Its down 0.03, from 0.92 in 2016Q1. The ratio is negative, as 44 funds sold all Avnet, Inc. shares owned while 125 reduced positions. 26 funds bought stakes while 125 increased positions. They now own 118.58 million shares or 5.22% less from 125.12 million shares in 2016Q1.
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.
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