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. (AVT) drives innovation in global electronics distribution, connecting semiconductor suppliers with manufacturers worldwide. This news hub provides investors and industry professionals with essential updates on Avnet's strategic initiatives, financial performance, and market leadership.
Access real-time press releases covering earnings announcements, supply chain developments, and technology partnerships. Our curated collection ensures you stay informed about critical milestones in electronic component distribution and engineering solutions.
Key updates include quarterly financial results, executive leadership changes, sustainability initiatives, and innovations in IoT/embedded systems. Bookmark this page for direct access to verified information supporting informed analysis of Avnet's position in the semiconductor value chain.
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.
Avnet (AVT) announced a 4.8% increase in its quarterly cash dividend, raising it to $0.22 per share. The dividend will be paid on June 23, 2021, to shareholders of record as of June 9, 2021. This decision reflects Avnet's commitment to returning cash to shareholders, a result of its operational streamlining and improved financial profile. CEO Phil Gallagher emphasized the increase as a sign of confidence in their growth strategy and the company's ability to generate strong free cash flow.
Avnet, Inc. (Nasdaq: AVT) reported robust fiscal Q3 results for the period ending April 3, 2021, achieving $4.9 billion in sales, up 14.1% year-over-year and exceeding guidance. The company noted a significant increase in GAAP diluted earnings per share (EPS) to $1.07 compared to a loss of $1.29 in the prior year. Non-GAAP adjusted EPS rose 94.7% to $0.74. Operating margins also improved, with GAAP margin up 447 basis points to 1.8%. CEO Phil Gallagher cited strong execution and strategic relationships as key drivers amid supply challenges.
Northforge Innovations has partnered with Avnet (NASDAQ: AVT) and EBV Elektronik to promote Northforge's software development services to Broadcom customers in North America and EMEA. Northforge is the sole Broadcom Authorized Development Collaborator for the StrataDNX line. The partnership aims to leverage Northforge's expertise, reducing design cycles and improving customer product development efficiency.
Avnet (Nasdaq: AVT) will report its financial results for the third quarter of fiscal year 2021 on April 28 after market close. CEO Phil Gallagher and CFO Tom Liguori will host a conference call at 1:30 p.m. PT / 4:30 p.m. ET to discuss the results and provide updates. Participants can access the call by dialing 877-407-8112 or 201-689-8840. Additional details, including a replay, will be available on Avnet’s Investor Relations web page. Avnet is a century-old technology solutions provider supporting customers throughout the product lifecycle.
