Welcome to our dedicated page for Avnet news (Ticker: AVT), a resource for investors and traders seeking the latest updates and insights on Avnet stock.
Avnet, Inc. reports on its role as a global technology distributor and solutions provider for electronic components, design support and supply-chain activity across the Americas, EMEA and Asia. Company updates around the Electronic Components business and Farnell describe regional sales trends, inventory levels, operating margins, cash flow and demand from OEM, EMS, ODM and lower-volume prototyping customers.
Avnet news also includes quarterly financial results, earnings-call schedules, regular cash dividends and investor conference participation. The company frames its operations around supporting customers and suppliers through the product lifecycle, from idea and design through prototype and production.
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.