Zacks Investment Research upgraded shares of AVX (NYSE:AVX) from a hold rating to a buy rating in a research report report published on Tuesday morning. The brokerage currently has $20.00 target price on the electronics maker’s stock.
According to Zacks, “AVX Corporation is a leading worldwide manufacturer and supplier of a broad line of passive electronic components and related products. The company’s passive electronic component sales include ceramic and tantalum capacitors, both in leaded and surface-mount versions, film capacitors, ferrites, varistors and non-linear resistors manufactured in the company’s facilities. The company also manufactures and sells electronic connectors and distributes and sells certain connectors. “
Separately, ValuEngine upgraded shares of AVX from a hold rating to a buy rating in a report on Thursday, March 1st.
AVX (NYSE:AVX) last issued its earnings results on Thursday, January 25th. The electronics maker reported $0.22 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.04. AVX had a net margin of 0.48% and a return on equity of 6.12%. The firm had revenue of $431.80 million during the quarter, compared to the consensus estimate of $421.60 million. During the same quarter in the prior year, the firm earned $0.21 earnings per share. The business’s quarterly revenue was up 26.7% on a year-over-year basis. equities analysts predict that AVX will post 0.8 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, March 5th. Stockholders of record on Friday, February 23rd were issued a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 2.58%. The ex-dividend date of this dividend was Thursday, February 22nd. AVX’s dividend payout ratio (DPR) is presently 920.18%.
In related news, insider Zahir Dhanani purchased 300,000 shares of AVX stock in a transaction dated Thursday, January 18th. The stock was bought at an average price of $0.09 per share, for a total transaction of $27,000.00. Insiders bought 633,000 shares of company stock valued at $70,030 in the last quarter. Corporate insiders own 0.50% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in AVX. Aperio Group LLC boosted its holdings in shares of AVX by 6.2% in the third quarter. Aperio Group LLC now owns 52,966 shares of the electronics maker’s stock valued at $966,000 after buying an additional 3,075 shares during the period. SG Americas Securities LLC acquired a new position in AVX during the third quarter worth $226,000. Schwab Charles Investment Management Inc. boosted its holdings in AVX by 2.9% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 452,506 shares of the electronics maker’s stock worth $7,829,000 after purchasing an additional 12,782 shares during the last quarter. Foundry Partners LLC boosted its holdings in AVX by 3.3% during the fourth quarter. Foundry Partners LLC now owns 317,163 shares of the electronics maker’s stock worth $5,487,000 after purchasing an additional 10,108 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its holdings in AVX by 6.5% during the fourth quarter. Victory Capital Management Inc. now owns 53,534 shares of the electronics maker’s stock worth $926,000 after purchasing an additional 3,248 shares during the last quarter. Institutional investors own 25.51% of the company’s stock.
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AVX Company Profile
AVX Corporation (AVX) is a manufacturer and supplier and reseller of a line of passive electronic components, interconnect devices and related products. AVX operates in three segments: Passive Components, Kyocera Electronic Devices (KED Resale) and Interconnect. The Passive Components segment consists of surface mount and leaded ceramic capacitors, surface mount and leaded tantalum capacitors, surface mount and leaded film capacitors, thick and thin film packages of multiple passive integrated components, thermistors, inductors and resistive products.
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