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) appointed Dayna Badhorn as the new regional president for its Americas electronics components division, effective immediately. With 23 years at Avnet, Badhorn previously served as global VP of strategic planning and corporate marketing, where she identified growth opportunities. CEO Phil Gallagher expressed confidence in her ability to drive growth in the region. Badhorn has held various leadership roles since joining in 1998 and has a track record of launching initiatives and managing transformation projects.
Avnet, Inc. (AVT) has announced a quarterly cash dividend of $.24 per share, approved by its Board of Directors on November 17, 2021. The dividend payout is scheduled for December 15, 2021, to shareholders who hold shares by the close of business on December 1, 2021. This consistent dividend payment highlights Avnet's commitment to returning value to its shareholders as it continues to support customer needs across the technology lifecycle.
Avnet (Nasdaq: AVT) has announced its participation in two upcoming virtual investor conferences. On November 30, CEO Phil Gallagher, CFO Tom Liguori, and VP Joe Burke will host a fireside chat at the Wells Fargo TMT Summit at 1:20 p.m. ET. On December 6, the same team will participate in the Raymond James Technology Investors Conference at 8:50 a.m. ET. Both events will be webcast live, with links available on the Avnet investor relations website. Avnet, a century-old technology distributor, supports customers throughout all stages of product development.
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.
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