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6 stories mentioning AVTUpdated 33d ago

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Wire

Avnet 'Cycle' Trends Improve as Backlog Extends, Lead Times Lengthen, BofA Says

Avnet (AVT) is showing improving industry "cycle" trends as "backlog" extends further out, "book-to-bill" ratios remain above 1 across all regions and lead times are lengthening in more than half of tracked product categories, BofA Securities said in a report Wednesday."Inventory correction" appears to have largely passed its trough, with Avnet showing "clear upcycle patterns" as inventory normalized to 77 days. The company is "entering the upcycle" with a cleaner balance sheet than in prior cycles, according to the report.The firm also pointed to improving operating leverage as selling, general and administrative expenses declined to 70.2% of gross profit from 74.2% in the previous quarter.Avnet's Farnell "catalog business" is also recovering and could see 50 to 100 basis points of sequential operating margin improvement as product mix improves and "cost discipline" continues, though the report said "demand remains uneven."BofA upgraded Avnet to neutral from underperform and raised its price target to $96 from $66.The firm cautioned that weaker end-market demand in the second half of 2026 and in 2027, slower recovery in Europe and Farnell, unfavorable "regional mix" and elevated Wall Street expectations could limit upside.Price: $84.72, Change: $+2.61, Percent Change: +3.17%

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Research

BofA Securities Upgrades Avnet to Neutral From Underperform, Raises Price Target to $96 From $66

Avnet (AVT) has an average rating of hold and mean price target of $78.75 according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)

$AVT
Research

Research Alert: CFRA Maintains Sell Rating Shares Of Avnet Inc.

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We raise our target price by $10 to $62, based on rolling our valuation forward to our newly initiated FY 28 (Jun.) EPS estimate of $7.79, with a multiple of 8x, below AVT's three- and five-year historical averages of 9x-10x. After stronger-than-expected Mar-Q results and a positive inflection in the semiconductor distribution cycle, we increase our EPS estimates to $4.82 (from $4.55) for FY 26 and to $6.57 (from $6.09) for FY 27. We believe our multiple discount is warranted by the company's continued shift into lower-margin Asia (now 49% of sales), which creates a structural profitability headwind. This, combined with persistent industry competition and geopolitical risks, tempers our outlook. While we recognize tailwinds from AI demand and digital investments, we view the recent high-growth period and management's guidance expectation of continued outsized memory pricing growth as unsustainable, and we expect a return to a more normalized trajectory in FY 27-FY 28.

$AVT
Research

Research Alert: Avt Beats Q3; Expansion Challenges Structural Concerns

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:AVT delivered a strong Q3 beat with revenue of $7.12B (+34% Y/Y, +13% Q/Q) vs. $6.4B consensus and adjusted EPS of $1.48 (+76% Y/Y, +41% Q/Q) vs. $1.32 consensus. Operating margins expanded to 2.9% (+58bps Q/Q) with Electronic Components achieving 3.5% margins, demonstrating quality operating leverage as sequential operating income grew more than twice as fast as sales. Broad-based strength across all regions Asia +39%, EMEA +31%, Americas +27% suggests a genuine demand recovery beyond AI infrastructure into traditional electronics markets. Q4 guidance of $7.30B-$7.60B sales (midpoint $7.45B) and adjusted EPS of $1.70-$1.80 significantly exceeded consensus of $6.5B revenue and $1.41 EPS. Inventory optimization reached management's target with total days declining to 77 days, enabling $800M sales growth with only $54M operating cash flow usage. We believe the inventory destocking cycle has conclusively ended and AVT is well-positioned to capitalize on the electronics market recovery with sustained momentum.

$AVT
Wire

Avnet Shares Rise After Upgrade From Truist

Avnet (AVT) shares were up more than 7% in Monday trading after Truist upgraded the company's stock to buy from hold and raised its price target to $80 from $65.Trading volume stood at over 1 million shares against a daily average of roughly 1.1 million.Price: $72.24, Change: $+5.21, Percent Change: +7.77%

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Research

Truist Upgrades Avnet to Buy From Hold, Raises Price Target to $80 From $65

Avnet (AVT) has an average rating of hold and mean price target of $63, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)

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