AVX (AVX) Upgraded by ValuEngine to Hold

ValuEngine upgraded shares of AVX (NYSE:AVX) from a sell rating to a hold rating in a research note released on Thursday.

AVX has been the topic of a number of other research reports. Zacks Investment Research upgraded shares of AVX from a hold rating to a strong-buy rating and set a $18.00 target price on the stock in a research report on Friday, October 26th. Stifel Nicolaus raised their target price on shares of AVX from $16.00 to $18.00 and gave the company a hold rating in a research report on Thursday, July 26th.

Shares of NYSE AVX traded up $0.33 during trading hours on Thursday, hitting $16.84. 377,200 shares of the stock were exchanged, compared to its average volume of 294,998. The firm has a market capitalization of $2.68 billion, a price-to-earnings ratio of 20.88 and a beta of 1.06. AVX has a 1-year low of $14.51 and a 1-year high of $21.48.

AVX (NYSE:AVX) last posted its quarterly earnings results on Wednesday, October 24th. The electronics maker reported $0.43 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.33 by $0.10. AVX had a net margin of 3.73% and a return on equity of 8.84%. The business had revenue of $456.33 million for the quarter, compared to analyst estimates of $462.00 million. During the same quarter last year, the business posted $0.21 EPS. The firm’s revenue for the quarter was up 29.4% on a year-over-year basis. Equities research analysts predict that AVX will post 1.44 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, November 16th. Shareholders of record on Friday, November 2nd will be given a $0.115 dividend. The ex-dividend date of this dividend is Thursday, November 1st. This represents a $0.46 dividend on an annualized basis and a yield of 2.73%. AVX’s dividend payout ratio is currently 57.50%.

In other news, VP Willing King sold 10,000 shares of the firm’s stock in a transaction on Friday, August 31st. The shares were sold at an average price of $20.94, for a total transaction of $209,400.00. Following the completion of the transaction, the vice president now owns 14,752 shares of the company’s stock, valued at $308,906.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP John Lawing sold 5,000 shares of the firm’s stock in a transaction on Wednesday, September 5th. The shares were sold at an average price of $20.23, for a total transaction of $101,150.00. Following the transaction, the senior vice president now directly owns 8,656 shares of the company’s stock, valued at approximately $175,110.88. The disclosure for this sale can be found here. Insiders sold 16,619 shares of company stock worth $343,449 in the last 90 days. Company insiders own 0.46% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in AVX. State of Alaska Department of Revenue bought a new position in shares of AVX during the third quarter valued at $104,000. Bruderman Asset Management LLC bought a new position in shares of AVX during the second quarter valued at $121,000. Cubist Systematic Strategies LLC bought a new position in shares of AVX during the first quarter valued at $156,000. Dynamic Technology Lab Private Ltd bought a new position in shares of AVX during the first quarter valued at $207,000. Finally, A.R.T. Advisors LLC bought a new position in shares of AVX during the first quarter valued at $219,000. 24.50% of the stock is owned by hedge funds and other institutional investors.

About AVX

AVX Corporation, together with its subsidiaries, manufactures, supplies, and resells various electronic components, interconnect devices, sensing and control devices, and related products worldwide. The company operates through three segments: Electronic Components; Interconnect, Sensing and Control Devices; and Kyocera Electronic Devices Resale.

Further Reading: The Role of a Fiduciary and Individual Investors

To view ValuEngine’s full report, visit ValuEngine’s official website.

Receive News & Ratings for AVX Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AVX and related companies with MarketBeat.com's FREE daily email newsletter.


Leave a Reply