AVT Stock Recent News

Avnet was awarded nearly $268 million in damages in a price-fixing lawsuit against Nippon Chemi-Con Corp and its subsidiary United Chemi-Con Inc. Avnet reached out-of-court settlements with defendants MATSUO and ELNA, potentially bringing the total gain from the lawsuit to over $350 million, including previous settlements. The market reacted positively to the news, but the exact net amounts gained may not be fully reflected in Avnet's stock price yet.

Semiconductor distributor Avnet appears to be trading at an astonishingly low multiple. The valuation makes more sense when considering the business model and current risk of a downturn in the chip industry.

Wondering how to pick strong, market-beating stocks for your investment portfolio? Look no further than the Zacks Style Scores.

Avnet's (AVT) Q3 performance reflects that supply constraints for certain components and an unfavorable currency exchange rate substantially offset the benefits of the strong demand for the company's products.

The headline numbers for Avnet (AVT) give insight into how the company performed in the quarter ended March 2023, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.

Avnet (AVT) came out with quarterly earnings of $2 per share, beating the Zacks Consensus Estimate of $1.78 per share. This compares to earnings of $2.15 per share a year ago.

Avnet Corp.'s AVT stock climbed 3% in extended trading Wednesday after the electronics company posted fiscal third-quarter results that easily exceeded analyst revenue and earnings estimates. Avnet reported net income of $187.4 million, or $2.03 a share, compared with net income of $183.4 million, or $1.84 a share, in the year-ago quarter.

Avnet's (AVT) overall third-quarter performance is expected to have been negatively impacted by constraints in product availability and pricing pressure.

The stock market had a strong first quarter, with many companies posting big gains. This was a welcome turn of events after a difficult 2022 for investors.

Tech stocks are becoming a hot topic once again after the emergence of generative AI platform ChatGPT earlier this year. Indeed, 2022 proved challenging for tech stocks.