Avnet, Inc. (NASDAQ: AVT), an electronic component provider, has issued its third-quarter fiscal 2022 report. It was the basis for a 12 percent increase in AVT prices to $43.82 at the trading on April 28. The stock has a market value of $4.38 billion dollars.
Avnet’s sales increased 32% year over year and 11% sequentially to $6.5 billion in the quarter ended April 2. Earnings per diluted share were adjusted to $2.15. The electronic components segment’s operating margin climbed to 4.4 percent. Dividends were increased by 23.8 percent, bringing the total amount given to shareholders to $25.6 million.
Investors were encouraged by the financial data, which showed that the company’s operating margin grew for the fifth quarter in a row, mainly to higher sales in the Americas. Avnet was able to recruit new clients and enhance earnings by exploiting competitor supply chain issues.
Avnet estimates revenues of $6-$6.4 billion and adjusted profits per share of $1.9- $2 in the fourth quarter of its fiscal year, which ends July 2.
Avnet is a technological business with a lengthy history (about 100 years). The firm is now a large distributor of semiconductors, connectors, electromechanical modules, and a range of other components.
For sustainable manufacturing, the firm provides a variety of logistics and supply chain management services. Avnet also works in electronics design, assisting with anything from engineering drawings to large-scale production.
Avnet’s operations are organized into numerous significant sub-brands, each of which is focused on a different market. Avnet Silica, for example, specializes in delivering semiconductors and assisting with their design procedures.
The stock has a year-to-date return of 5.89 percent. Its seven-day performance, on the other hand, is 11.55 percent. The stock’s price index has risen by 4.65% in the last month, and it has increased by 10.67% in the last three months. Its six-month performance was 16.99 percent, while its 52-week performance was -0.59 percent.