AVX (AVX) Upgraded by Zacks Investment Research to Hold
Zacks Investment Research upgraded shares of AVX (NYSE:AVX) from a sell rating to a hold rating in a report released on Tuesday.
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 lowered AVX from a buy rating to a hold rating in a research note on Friday, April 27th.
AVX (NYSE:AVX) last issued its quarterly earnings data on Wednesday, April 25th. The electronics maker reported $0.19 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.19. AVX had a return on equity of 6.01% and a net margin of 0.31%. The firm had revenue of $446.60 million during the quarter, compared to analyst estimates of $410.00 million. During the same quarter last year, the firm earned $0.20 EPS. AVX’s quarterly revenue was up 35.5% on a year-over-year basis. equities research analysts forecast that AVX will post 0.75 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 29th. Shareholders of record on Friday, June 15th will be paid a dividend of $0.115 per share. The ex-dividend date of this dividend is Thursday, June 14th. This represents a $0.46 dividend on an annualized basis and a yield of 2.86%. AVX’s dividend payout ratio (DPR) is presently 57.50%.
In other news, CAO Michael E. Hufnagel sold 3,000 shares of AVX stock in a transaction that occurred on Tuesday, May 1st. The stock was sold at an average price of $16.74, for a total value of $50,220.00. Following the completion of the transaction, the chief accounting officer now owns 500 shares in the company, valued at approximately $8,370. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Chairman John Sarvis sold 6,000 shares of AVX stock in a transaction that occurred on Tuesday, May 15th. The stock was sold at an average price of $15.71, for a total value of $94,260.00. Following the completion of the transaction, the chairman now owns 23,711 shares of the company’s stock, valued at approximately $372,499.81. The disclosure for this sale can be found here. 0.46% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently modified their holdings of the company. Cubist Systematic Strategies LLC acquired a new position in shares of AVX in the 1st quarter worth approximately $156,000. SG Americas Securities LLC acquired a new position in shares of AVX in the 1st quarter worth approximately $161,000. Verition Fund Management LLC acquired a new position in shares of AVX in the 1st quarter worth approximately $191,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of AVX in the 1st quarter worth approximately $207,000. Finally, A.R.T. Advisors LLC acquired a new position in shares of AVX in the 1st quarter worth approximately $219,000. Institutional investors own 24.70% of the company’s stock.
AVX Company Profile
AVX Corporation, together with its subsidiaries, manufactures and supplies various passive electronic components, interconnect devices, and related products worldwide. The company operates through three segments: Passive Components, Kyocera Electronic Devices (KED Resale), and Interconnect. The Passive Components segment primarily offers surface mount and leaded ceramic capacitors, RF thick and thin film components, surface mount and leaded tantalum capacitors, surface mount and leaded film capacitors, ceramic and film power capacitors, super capacitors, EMI filters, thick and thin film packages of multiple passive integrated components, varistors, thermistors, inductors, and resistive products.
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