What Can We Expect After Avnet (NYSE:AVT)’s Downgrade By Goldman Sachs?

May 16, 2018 - By Susan Price

Avnet, Inc. (NASDAQ:AVT) Logo

Investors sentiment increased to 1.16 in 2017 Q4. Its up 0.17, from 0.99 in 2017Q3. It is positive, as 29 investors sold Avnet, Inc. shares while 100 reduced holdings. 53 funds opened positions while 97 raised stakes. 110.65 million shares or 1.73% less from 112.60 million shares in 2017Q3 were reported.

Canada Pension Plan Investment Board has invested 0.01% in Avnet, Inc. (NASDAQ:AVT). Quantbot Techs Limited Partnership stated it has 52,867 shares or 0.19% of all its holdings. Maplelane Ltd Liability Corporation, New York-based fund reported 555,001 shares. Ledyard National Bank & Trust owns 865 shares or 0% of their US portfolio. Guggenheim Limited Com invested in 0.02% or 197,789 shares. Qs Lc has invested 0% in Avnet, Inc. (NASDAQ:AVT). Gargoyle Inv Advisor Ltd Liability Corp holds 68,847 shares. Louisiana State Employees Retirement invested in 30,600 shares. Manufacturers Life Insurance Com The stated it has 200,894 shares or 0.01% of all its holdings. American Century Cos Incorporated stated it has 207,796 shares or 0.01% of all its holdings. Dnb Asset Mngmt As reported 22,923 shares stake. Commonwealth Of Pennsylvania Pub School Empls Retrmt has 17,663 shares for 0.01% of their portfolio. Livforsakringsbolaget Skandia Omsesidigt reported 0.27% of its portfolio in Avnet, Inc. (NASDAQ:AVT). Citigroup accumulated 493,480 shares. Earnest Prns Ltd Llc accumulated 425,198 shares or 0.16% of the stock.

Since February 13, 2018, it had 0 buys, and 2 insider sales for $661,716 activity. On Tuesday, February 13 Summers Kevin V sold $61,452 worth of Avnet, Inc. (NASDAQ:AVT) or 1,511 shares.

Avnet (NYSE:AVT) Receives a Downgrade

In an analyst note sent to clients and investors on 16 May, Goldman Sachs lowered shares of Avnet (NYSE:AVT) to a lower “Sell” rating from the previous “Neutral” rating.

Avnet, Inc. (NASDAQ:AVT) Ratings Coverage

Among 5 analysts covering Avnet (NYSE:AVT), 1 have Buy rating, 0 Sell and 4 Hold. Therefore 20% are positive. Avnet has $46.0 highest and $44.0 lowest target. $44.33’s average target is 13.40% above currents $39.09 stock price. Avnet had 5 analyst reports since January 5, 2018 according to SRatingsIntel. The firm earned “Neutral” rating on Friday, January 5 by Goldman Sachs. The company was upgraded on Wednesday, April 25 by Bank of America. The company was upgraded on Friday, January 19 by Longbow. The firm has “Hold” rating given on Thursday, January 25 by SunTrust.

The stock decreased 3.31% or $1.34 during the last trading session, reaching $39.09. About 866,483 shares traded or 14.68% up from the average. Avnet, Inc. (NYSE:AVT) has declined 6.72% since May 16, 2017 and is downtrending. It has underperformed by 18.27% the S&P500.

Analysts await Avnet, Inc. (NASDAQ:AVT) to report earnings on August, 8. They expect $0.96 EPS, up 14.29 % or $0.12 from last year’s $0.84 per share. AVT’s profit will be $113.26 million for 10.18 P/E if the $0.96 EPS becomes a reality. After $1.02 actual EPS reported by Avnet, Inc. for the previous quarter, Wall Street now forecasts -5.88 % negative EPS growth.

Avnet, Inc., together with its subsidiaries, distributes electronic components worldwide. The company has market cap of $4.61 billion. The firm operates through two divisions, Electronic Components and Premier Farnell. It has a 10.67 P/E ratio. The Electronic Components segment markets and sells semiconductors; electronic components, including interconnect, passive and electromechanical devices; and other integrated components from electronic component manufacturers.

More recent Avnet, Inc. (NASDAQ:AVT) news were published by: Businesswire.com which released: “Avnet Showcases Connected Ecosystem at IoT World 2018” on May 14, 2018. Also Streetinsider.com published the news titled: “Goldman Sachs Downgrades Avnet (AVT) to Sell” on May 16, 2018. Benzinga.com‘s news article titled: “Goldman Presses Sell Button On Avnet On Incremental Risk To Semi Cycle” with publication date: May 16, 2018 was also an interesting one.

Avnet, Inc. (NASDAQ:AVT) Institutional Positions Chart

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.