Welcome to our dedicated page for Avnet news (Ticker: AVT), a resource for investors and traders seeking the latest updates and insights on Avnet stock.
Avnet, Inc. (NASDAQ: AVT) is a global leader in electronic components distribution, dedicated to advancing technological innovation. With a presence in 125 countries and a team of 15,000 professionals, Avnet bridges the gap between suppliers and customers in the electronics industry. The company supports all phases of the technology lifecycle, from initial design to final production.
Avnet caters to startups and established manufacturers alike, providing crucial resources such as design tools, test kits, and supply chain services. As the third-largest semiconductor distributor globally, Avnet serves over 2.1 million small- and mid-sized businesses in 140 countries. The company's European distribution network is particularly noteworthy, being the largest in the region.
Recent achievements include innovative partnerships and cutting-edge projects aimed at accelerating technological advancements. Avnet’s engineers and support teams are at the forefront of these developments, enhancing the company’s role as a pivotal player in the tech industry.
With a strong financial foundation and a culture rooted in emerging technology, Avnet continues to guide ideas into tomorrow's technology. Whether you're an innovator at the start of your journey or a manufacturer ready to scale, Avnet provides the tools and expertise needed to succeed.
Avnet (Nasdaq: AVT) has partnered with Digital Realty (NYSE: DLR) to provide innovative video broadcast solutions aimed at enhancing enterprise capabilities. Their first offering features 3rd Gen AMD EPYC servers integrated with Xilinx U30 FPGA accelerator cards, designed for high-performance, cloud-based video streaming. This collaboration enables organizations to easily benchmark and deploy solutions without upfront infrastructure costs, targeting various sectors including telemedicine and digital content distribution. The service emphasizes cost-effectiveness and performance, supporting the growing demand for digital video services.
Avnet, Inc. (Nasdaq: AVT) reported first quarter sales of $5.6 billion, marking an 18.2% increase year over year. Diluted EPS stands at $1.10, while adjusted diluted EPS is $1.22, highlighting significant growth compared to previous quarters. Operating margins improved, with Electronic Components at 3.2% and Farnell at 10.9%. The company plans to navigate ongoing supply chain challenges and anticipates continued strong market demand into 2022, projecting second quarter sales guidance between $5.3B and $5.7B.
Avnet (Nasdaq: AVT) will report its first quarter fiscal year 2022 financial results on October 28 after market close. CEO Phil Gallagher and CFO Tom Liguori will host a conference call to discuss the results at 1:30 p.m. PT / 4:30 p.m. ET. Investors can join the call by dialing 877-407-8112 or 201-689-8840. The presentation will be accessible on Avnet's Investor Relations website. A replay will be available for 90 days until January 28. For further information, visit www.avnet.com.
Avnet (Nasdaq: AVT) announced that CEO Phil Gallagher, CFO Tom Liguori, and VP Joe Burke will participate in a virtual fireside chat at the Citi 2021 Global Technology Conference on September 15 at 1:50 p.m. ET. This event will be webcast live and available for replay on Avnet's Investor Relations section. Avnet, a leading global technology distributor, supports customers throughout the product lifecycle, facilitating faster revenue realization. For more details, visit www.avnet.com.
Avnet (NASDAQ: AVT) has appointed Ernest Maddock to its board of directors, effective immediately. Maddock will contribute his extensive technology and financial expertise, having previously served as the CFO at Micron Technology, Riverbed Technology, and LAM Research. His appointment aims to enhance corporate governance as Avnet enters its Centennial year. Maddock also serves on the board of Ultra Clean Holdings, focusing on semiconductor systems. With an MBA from Georgia State University, his leadership is anticipated to offer valuable insights for Avnet's global business growth.
Avnet (Nasdaq: AVT) announced a 9.1% increase in its quarterly cash dividend to
Additionally, Avnet will hold its Annual Shareholder Meeting on
Avnet reported strong financial results for the fourth quarter and fiscal year ended July 3, 2021, with sales of $5.2 billion, a 25.7% year-over-year increase. GAAP diluted EPS rose to $0.85, up from $0.53 a year earlier, while non-GAAP adjusted diluted EPS increased to $1.12 from $0.64. Operating margins improved, with Farnell achieving 8.3% margin. Looking ahead, Avnet forecasts first-quarter sales between $5.1B and $5.4B and adjusted EPS of $1.02 to $1.12. The company continues to capitalize on strong demand across all regions.
Avnet, Inc. (Nasdaq: AVT) released preliminary results for Q4, showing sales of $5.2 billion, exceeding previous guidance of $4.7 to $5.1 billion. This represents a year-over-year growth of 25.7% and a quarter-over-quarter increase of 6.3%. GAAP diluted EPS is projected between $0.72 and $0.78, while adjusted EPS is expected to be $1.01 to $1.05, reflecting substantial growth of 57.8% to 64.1% year-over-year. The positive performance is attributed to strong sales growth in EMEA, Asia, and Farnell, alongside improved operating margins across regions.
Newark, an Avnet Company, has released its Women in Engineering 2021 survey results, revealing widespread support for gender equality in engineering from respondents of all genders. The survey, conducted among over 370 participants globally, indicates a shared belief in the importance of addressing gender inequality and promoting women into leadership roles. While women appreciate the financial benefits of the industry, they still highlight the ongoing issues of the gender pay gap. The survey coincides with International Women in Engineering Day and emphasizes the need for stronger equality policies.
Avnet (Nasdaq: AVT) announced its participation in three investor conferences in June 2021. The first event is on June 8 at the Stifel Virtual Cross Sector Insight Conference, featuring a fireside chat at 2:40 p.m. ET. The second event is on June 10 at the Bank of America Securities 2021 Global Technology Conference, starting at 2:30 p.m. ET. Lastly, CEO Phil Gallagher will speak at Barron’s Investing in Tech conference on June 16 from 12:25 p.m. ET. Live webcasts and replays will be available on Avnet's investor relations website.
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