AVX Corporation (AVX) Lowered to “Hold” at Zacks Investment Research

Zacks Investment Research cut shares of AVX Corporation (NYSE:AVX) from a buy rating to a hold rating in a report published 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. “

AVX Corporation (NYSE:AVX) traded up 0.62% during trading on Tuesday, reaching $16.30. The company had a trading volume of 116,969 shares. AVX Corporation has a 1-year low of $10.43 and a 1-year high of $16.30. The stock has a market capitalization of $2.73 billion, a price-to-earnings ratio of 29.11 and a beta of 0.92. The firm has a 50-day moving average of $15.63 and a 200-day moving average of $14.24.

AVX Corporation (NYSE:AVX) last posted its earnings results on Wednesday, October 26th. The company reported $0.15 EPS for the quarter, missing the Zacks’ consensus estimate of $0.17 by $0.02. AVX Corporation had a return on equity of 5.44% and a net margin of 9.26%. The firm had revenue of $327.50 million for the quarter, compared to analyst estimates of $316.40 million. During the same quarter last year, the firm posted $0.19 EPS. The firm’s revenue for the quarter was up 7.6% on a year-over-year basis. On average, analysts anticipate that AVX Corporation will post $0.73 EPS for the current fiscal year.

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Several hedge funds have recently bought and sold shares of the company. Dimensional Fund Advisors LP boosted its stake in AVX Corporation by 5.4% in the second quarter. Dimensional Fund Advisors LP now owns 4,299,828 shares of the company’s stock worth $58,391,000 after buying an additional 220,857 shares during the period. Vanguard Group Inc. boosted its stake in AVX Corporation by 1.6% in the second quarter. Vanguard Group Inc. now owns 3,332,554 shares of the company’s stock worth $45,256,000 after buying an additional 53,333 shares during the period. BlackRock Fund Advisors boosted its stake in AVX Corporation by 7.5% in the third quarter. BlackRock Fund Advisors now owns 1,305,380 shares of the company’s stock worth $18,001,000 after buying an additional 91,076 shares during the period. Wells Fargo & Company MN boosted its stake in AVX Corporation by 8.8% in the third quarter. Wells Fargo & Company MN now owns 1,180,397 shares of the company’s stock worth $16,279,000 after buying an additional 95,054 shares during the period. Finally, BlackRock Institutional Trust Company N.A. boosted its stake in AVX Corporation by 2.7% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 1,132,885 shares of the company’s stock worth $15,385,000 after buying an additional 30,057 shares during the period. Institutional investors and hedge funds own 24.24% of the company’s stock.

About AVX Corporation

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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