AVX (NYSE:AVX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday. The brokerage presently has a $20.00 price objective on the electronics maker’s stock. Zacks Investment Research‘s price objective points to a potential upside of 11.98% from the stock’s current price.
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 AVX from a “hold” rating to a “buy” rating in a report on Thursday, March 1st.
AVX (NYSE:AVX) last announced its quarterly earnings data on Thursday, January 25th. The electronics maker reported $0.22 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.18 by $0.04. AVX had a return on equity of 6.12% and a net margin of 0.48%. The firm had revenue of $431.80 million for the quarter, compared to analyst estimates of $421.60 million. During the same quarter in the prior year, the company posted $0.21 earnings per share. AVX’s quarterly revenue was up 26.7% on a year-over-year basis. research analysts expect that AVX will post 0.8 EPS for the current year.
In other news, insider Zahir Dhanani bought 300,000 shares of the stock in a transaction on Thursday, January 18th. The shares were bought at an average price of $0.09 per share, with a total value of $27,000.00. Insiders acquired 633,000 shares of company stock worth $70,030 in the last three months. 0.50% of the stock is owned by corporate insiders.
Several institutional investors and hedge funds have recently bought and sold shares of the stock. MetLife Investment Advisors LLC acquired a new stake in shares of AVX during the fourth quarter valued at $378,000. Gotham Asset Management LLC boosted its stake in shares of AVX by 9.9% during the fourth quarter. Gotham Asset Management LLC now owns 183,533 shares of the electronics maker’s stock valued at $3,175,000 after acquiring an additional 16,552 shares during the last quarter. Teachers Advisors LLC boosted its stake in shares of AVX by 48.4% during the fourth quarter. Teachers Advisors LLC now owns 118,181 shares of the electronics maker’s stock valued at $2,045,000 after acquiring an additional 38,547 shares during the last quarter. Stone Ridge Asset Management LLC acquired a new stake in shares of AVX during the fourth quarter valued at $1,845,000. Finally, Deutsche Bank AG boosted its stake in shares of AVX by 67.6% during the fourth quarter. Deutsche Bank AG now owns 199,255 shares of the electronics maker’s stock valued at $3,444,000 after acquiring an additional 80,385 shares during the last quarter. 25.51% of the stock is currently owned by institutional investors and hedge funds.
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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