AVX (AVX) Upgraded to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of AVX (NYSE:AVX) from a hold rating to a buy rating in a report published on Thursday. The firm currently has $19.00 price objective on the electronics maker’s stock.

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 research reports. Stifel Nicolaus reiterated a hold rating and issued a $17.00 price target on shares of AVX in a research note on Tuesday, October 17th. ValuEngine upgraded AVX from a hold rating to a buy rating in a research note on Sunday, December 31st.

Shares of AVX (AVX) opened at $16.90 on Thursday. AVX has a 12 month low of $15.38 and a 12 month high of $20.22. The stock has a market capitalization of $2,862.85, a price-to-earnings ratio of 20.74 and a beta of 0.83.

AVX (NYSE:AVX) last issued its quarterly earnings results on Thursday, January 25th. The electronics maker reported $0.22 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.18 by $0.04. AVX had a return on equity of 6.07% and a net margin of 0.48%. The business had revenue of $431.80 million during the quarter, compared to analyst estimates of $421.60 million. During the same quarter in the prior year, the business posted $0.21 EPS. AVX’s revenue for the quarter was up 26.7% compared to the same quarter last year. analysts expect that AVX will post 0.8 earnings per share for the current year.

In other news, insider Zahir Dhanani acquired 300,000 shares of the business’s stock in a transaction dated Thursday, January 18th. The stock was purchased at an average price of $0.09 per share, for a total transaction of $27,000.00. In the last 90 days, insiders have bought 820,000 shares of company stock valued at $91,480. Company insiders own 0.50% of the company’s stock.

Institutional investors have recently modified their holdings of the company. SG Americas Securities LLC purchased a new position in shares of AVX during the third quarter valued at about $226,000. Aperio Group LLC grew its position in shares of AVX by 6.2% during the third quarter. Aperio Group LLC now owns 52,966 shares of the electronics maker’s stock valued at $966,000 after purchasing an additional 3,075 shares in the last quarter. Foundry Partners LLC grew its position in shares of AVX by 3.3% during the fourth quarter. Foundry Partners LLC now owns 317,163 shares of the electronics maker’s stock valued at $5,487,000 after purchasing an additional 10,108 shares in the last quarter. Teacher Retirement System of Texas purchased a new position in shares of AVX during the fourth quarter valued at about $302,000. Finally, The Manufacturers Life Insurance Company grew its position in shares of AVX by 5.6% during the fourth quarter. The Manufacturers Life Insurance Company now owns 243,323 shares of the electronics maker’s stock valued at $4,210,000 after purchasing an additional 12,798 shares in the last quarter. Hedge funds and other institutional investors own 24.63% of the company’s stock.

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About AVX

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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