Avnet Stock Price, News & Analysis

Avnet (Nasdaq: AVT) has announced that its CEO Phil Gallagher, CFO Tom Liguori, and VP of Treasury & Investor Relations Joe Burke will participate in a virtual fireside chat at the Citi 2021 Global TMT West Virtual Conference on January 5 at 3:00 p.m. EST. The event will be streamed live on the Avnet website, and a replay will be available in the Investor Relations section thereafter. Avnet is recognized as a global technology solutions provider, assisting customers through the entire product lifecycle.

Avnet (AVT) partners with Arizona State University to launch the fourth cohort of the Avnet Innovation Lab, supporting entrepreneurs in sectors like healthcare and agriculture. This initiative aims to foster economic growth and assist innovators in developing groundbreaking technologies. Each participant receives mentorship and dedicated lab space to accelerate their projects. New participants include Bloomer Tech, Frost Control Systems, Haystack Ag, Kyber Photonics, and MATRIX Labs, each focused on solving significant industry challenges. Avnet remains committed to nurturing innovation through collaborations with educational institutions.

CircuitByte has launched the 'DistiDirect' feature for Avnet (AVT) in its BOM Connector™, enhancing part sourcing and purchasing efficiency. This capability uses API technology to connect customers directly with component suppliers, providing real-time pricing, stock levels, and lead times. The release notes that this upgrade allows access across all Avnet 'Speedboats' and supports faster quoting processes. Avnet's digital integration aims to optimize purchasing scenarios while meeting customer demand through improved information breadth and quality.

Avnet (Nasdaq: AVT) has launched the AVT9152 module, enhancing its rapid IoT development offerings. This module features cellular connectivity with low power consumption and compact size, integrating technologies from Nordic Semiconductor. Suitable for applications like COVID-19 contact tracing and smart building automation, it combines NB-IoT/LTE-M, GPS, and Bluetooth LE capabilities. The AVT9152 Evaluation Kit simplifies IoT development with a comprehensive cloud connection platform, including various sensors and a global SIM trial service.

Avnet has launched the Monarch LTE-M Development Kit, enhancing IoT device development by providing essential components, software, and services. This kit integrates technologies from NXP, Sequans, Microsoft, and Verizon, facilitating faster market entry for IoT solutions with LTE-M connectivity. By using the Sequans Monarch LTE-M modem and NXP LPC55S69 MCU, developers can streamline their projects while ensuring reliable connectivity. Priced at $99, the kit supports applications like remote monitoring and smart city initiatives, fulfilling critical developer needs.

Avnet (Nasdaq: AVT) announced its participation in two virtual investor conferences in December. The first is on December 1, where Interim CEO Phil Gallagher, CFO Tom Liguori, and Investor Relations Officer Joe Burke will participate in a fireside chat at the Wells Fargo TMT Summit at 12:40 p.m. ET. The second is on December 7 at the Raymond James Technology Investors Conference at 4:10 p.m. ET. Both events will be webcast live, and replays will be available on Avnet's Investor Relations section of their website.

Avnet, a global technology solutions provider, announced a quarterly cash dividend of $0.21 per share on November 16, 2020. This dividend will be paid on December 16, 2020 to shareholders recorded by the close of business on December 2, 2020. The company continues to demonstrate its commitment to returning capital to shareholders while delivering innovative solutions across the product lifecycle.

Avnet, Inc. (Nasdaq: AVT) reported first-quarter fiscal 2021 results, with sales reaching $4.7 billion, an increase from $4.2 billion in the prior quarter and $4.6 billion year-over-year. However, the company recorded a GAAP loss per share of $0.19, down from earnings of $0.40 a year earlier. Non-GAAP adjusted EPS was $0.36, a significant decline from $0.60 in the same quarter last year. Operating income fell to $18.5 million, with a margin decline. The outlook for next quarter anticipates sales between $4.0B and $4.4B and non-GAAP EPS of $0.33 to $0.43.

Avnet (Nasdaq: AVT) announced it will release financial results for the first quarter of fiscal year 2021 on October 28 after market close. Following the earnings report, interim CEO Phil Gallagher and CFO Tom Liguori will host a conference call at 1:30 p.m. PDT / 4:30 p.m. EDT to discuss the results and corporate updates. Investors can join the call at 877-407-8112 or 201-689-8840. A replay will be available for 90 days. For further details, visit Avnet's Investor Relations website.