Zacks Investment Research lowered shares of AVX (NYSE:AVX) from a buy rating to a hold rating in a research report sent to investors on Thursday morning.
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. “
Separately, ValuEngine raised shares of AVX from a hold rating to a buy rating in a report on Thursday, March 1st.
AVX (NYSE:AVX) last issued its earnings results on Thursday, January 25th. The electronics maker reported $0.22 EPS for the quarter, beating the consensus estimate of $0.18 by $0.04. The company had revenue of $431.80 million during the quarter, compared to analysts’ expectations of $421.60 million. AVX had a net margin of 0.48% and a return on equity of 6.12%. The business’s revenue for the quarter was up 26.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.21 EPS. equities research analysts forecast that AVX will post 0.8 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, March 5th. Investors of record on Friday, February 23rd were issued a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a dividend yield of 2.59%. The ex-dividend date was Thursday, February 22nd. AVX’s dividend payout ratio (DPR) is presently 920.18%.
In related news, insider Zahir Dhanani purchased 300,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 18th. The shares were bought at an average cost of $0.09 per share, with a total value of $27,000.00. Insiders have purchased a total of 826,000 shares of company stock worth $87,400 over the last ninety days. 0.50% of the stock is currently owned by insiders.
Several institutional investors have recently made changes to their positions in the stock. BlackRock Inc. grew its holdings in shares of AVX by 7.7% during the 4th quarter. BlackRock Inc. now owns 3,266,828 shares of the electronics maker’s stock valued at $56,518,000 after purchasing an additional 232,254 shares during the last quarter. Wells Fargo & Company MN grew its holdings in shares of AVX by 3.1% during the 4th quarter. Wells Fargo & Company MN now owns 1,388,456 shares of the electronics maker’s stock valued at $24,021,000 after purchasing an additional 41,245 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of AVX by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 533,242 shares of the electronics maker’s stock valued at $9,225,000 after purchasing an additional 5,577 shares during the last quarter. Schwab Charles Investment Management Inc. grew its holdings in shares of AVX by 2.9% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 452,506 shares of the electronics maker’s stock valued at $7,829,000 after purchasing an additional 12,782 shares during the last quarter. Finally, Foundry Partners LLC grew its holdings in shares of AVX by 3.3% during the 4th 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 during the last quarter. 24.65% of the stock is currently owned by institutional investors.
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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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