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

AVX Corporation (NYSE:AVX) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors 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 has been the subject of a number of other reports. BidaskClub raised AVX Corporation from a “sell” rating to a “hold” rating in a research note on Thursday, August 3rd. Stifel Nicolaus reissued a “hold” rating and set a $17.00 price target on shares of AVX Corporation in a research note on Friday, July 28th.

Shares of AVX Corporation (AVX) traded down 0.86% during mid-day trading on Tuesday, hitting $17.21. The stock had a trading volume of 93,507 shares. The stock’s 50-day moving average is $17.34 and its 200 day moving average is $16.64. AVX Corporation has a 12 month low of $13.09 and a 12 month high of $18.44. The company has a market cap of $2.90 billion, a PE ratio of 22.64 and a beta of 0.81.

AVX Corporation (NYSE:AVX) last released its earnings results on Wednesday, July 26th. The electronics maker reported $0.19 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.19. AVX Corporation had a return on equity of 5.69% and a net margin of 9.46%. The firm had revenue of $331.35 million during the quarter, compared to analysts’ expectations of $328.00 million. During the same quarter last year, the business posted $0.19 earnings per share. The firm’s revenue was up 5.3% on a year-over-year basis. On average, equities research analysts forecast that AVX Corporation will post $0.76 earnings per share for the current fiscal year.

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Several large investors have recently bought and sold shares of AVX. Teachers Advisors LLC lifted its stake in shares of AVX Corporation by 1.3% in the 4th quarter. Teachers Advisors LLC now owns 90,678 shares of the electronics maker’s stock valued at $1,417,000 after purchasing an additional 1,176 shares during the last quarter. Wells Fargo & Company MN lifted its stake in shares of AVX Corporation by 6.2% in the 1st quarter. Wells Fargo & Company MN now owns 1,352,668 shares of the electronics maker’s stock valued at $22,156,000 after purchasing an additional 78,434 shares during the last quarter. First Trust Advisors LP lifted its stake in shares of AVX Corporation by 16.1% in the 1st quarter. First Trust Advisors LP now owns 316,373 shares of the electronics maker’s stock valued at $5,182,000 after purchasing an additional 43,871 shares during the last quarter. American Century Companies Inc. bought a new stake in shares of AVX Corporation in the 1st quarter valued at approximately $4,772,000. Finally, Bank of New York Mellon Corp lifted its stake in shares of AVX Corporation by 3.5% in the 1st quarter. Bank of New York Mellon Corp now owns 1,039,219 shares of the electronics maker’s stock valued at $17,023,000 after purchasing an additional 34,987 shares during the last quarter. 24.44% of the stock is owned by institutional investors and hedge funds.

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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