Avnet (AVT) Receives a Rating Update from a Top Analyst
In a report released today, William Stein from Truist Financial maintained a Hold rating on Avnet, with a price target of $48.58.
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Stein covers the Technology sector, focusing on stocks such as Advanced Micro Devices, Amphenol, and Arrow Electronics. According to TipRanks, Stein has an average return of 33.3% and a 74.88% success rate on recommended stocks.
Currently, the analyst consensus on Avnet is a Moderate Sell with an average price target of $47.19.
Based on Avnet’s latest earnings release for the quarter ending September 27, the company reported a quarterly revenue of $5.9 billion and a net profit of $51.75 million. In comparison, last year the company earned a revenue of $5.6 billion and had a net profit of $58.96 million
Based on the recent corporate insider activity of 21 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of AVT in relation to earlier this year. Last month, KENNETH A JACOBSON, the CFO of AVT bought 2,139.00 shares for a total of $99,998.25.
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