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 (Nasdaq: AVT) has launched a new product brand called Tria™ and a corresponding business, Tria Technologies, to consolidate its compute design and manufacturing capabilities. The Tria brand will encompass embedded compute boards, systems, and associated design and manufacturing services. This move aims to address the growing trend of OEMs shifting from chip-down manufacturing to pre-made embedded compute platforms.
Led by Thomas Staudinger, president of Embedded Solutions at Avnet, Tria Technologies will design and manufacture both standard and custom embedded compute products. The new brand represents Avnet's global design and manufacturing capabilities across the Americas, Europe, and Asia. It builds on Avnet's established market-leading position in embedded compute and advanced applications solutions, offering customers faster time-to-market, improved products, and reduced business risks.
Avnet (Nasdaq: AVT) has announced Rebeca Obregon as the new president of Farnell, effective July 1, 2024. Farnell is a key electronics components distributor within Avnet's portfolio, known for its comprehensive product range and global supply chain. Rebeca Obregon has been with Avnet since last year, serving as senior vice president of Strategic Business Engagements and Supplier Management. She brings over 30 years of semiconductor industry experience and has held leadership roles, including corporate vice president at Amkor Technology. Avnet CEO Phil Gallagher expressed confidence in Obregon’s ability to drive Farnell's success, emphasizing her commitment to the company's suppliers, customers, partners, and employees.
Avnet (NASDAQ: AVT), a global technology solutions company, has announced its participation in two upcoming investor conferences in June 2024. The Stifel 2024 Cross Sector Insight Conference will take place on June 4 in Boston, featuring Avnet’s CEO Phil Gallagher and CFO Ken Jacobson in a fireside chat at 1:15 pm ET. The BofA Securities 2024 Global Technology Conference will occur on June 6 in San Francisco, with CFO Ken Jacobson and Vice President of Treasury & Investor Relations Joe Burke participating in a fireside chat at 8:40 am PT. Both sessions will be available for live and archived viewing on Avnet's Investor Relations webpage.
Avnet, a global technology solutions provider, announced that its Board of Directors approved a regular quarterly cash dividend of $0.31 per share on May 15, 2024. The dividend will be paid on June 18, 2024, to shareholders who are recorded by the close of business on June 5, 2024. This announcement corrects a previous release that incorrectly listed the payment date as June 19, 2024.
Avnet, a global technology solutions provider, has announced that its Board of Directors approved a regular quarterly cash dividend of $0.31 per share on May 15, 2024. This dividend will be paid on June 19, 2024, to shareholders who are recorded by the close of business on June 5, 2024. The announcement reflects Avnet's commitment to returning value to its shareholders.
Avnet reported third quarter 2024 financial results with sales of $5.7 billion and diluted EPS of $0.97. Adjusted diluted EPS was $1.10, with an electronic components operating margin of 4.1%. Despite lower demand and economic softness, the company generated nearly $500 million in cash flow from operations and returned $28 million to shareholders in dividends.
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