Raymond James analyst Adam Tindle maintained a Buy rating on Avnet (AVT) yesterday and set a price target of $35.00. The company’s shares closed last Wednesday at $24.91.
According to TipRanks.com, Tindle has 0 stars on 0-5 stars ranking scale with an average return of -4.7% and a 37.2% success rate. Tindle covers the Technology sector, focusing on stocks such as Motorola Solutions, Jabil Circuit, and Check Point.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Avnet with a $32.50 average price target.
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Based on Avnet’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $4.16 billion and net profit of $52.16 million. In comparison, last year the company earned revenue of $4.68 billion and had a GAAP net loss of $31.84 million.
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Avnet, Inc. engages in the distribution and sale of electronic components. It operates through the Electronics Components and Farnell segments. The Electronics Components segment markets and sells semiconductors, interconnect, passive and electromechanical devices, and integrated components. The Farnell segment involves in the distribution of electronic components and related products to the electronic system design community utilizing multi-channel sales and marketing resources. The company was founded by Charles Avnet in 1921 and is headquartered in Phoenix, AZ.
