AVX Corp. (NYSE:AVX) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Thursday.
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, Citigroup Inc. increased their price target on AVX Corp. from $14.00 to $15.00 and gave the company a “neutral” rating in a research note on Thursday, July 28th.
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Shares of AVX Corp. (NYSE:AVX) traded up 1.61% on Thursday, reaching $13.86. The company’s stock had a trading volume of 132,213 shares. AVX Corp. has a 52-week low of $10.43 and a 52-week high of $14.32. The company has a 50 day moving average price of $13.62 and a 200 day moving average price of $13.26. The company has a market cap of $2.32 billion, a P/E ratio of 24.32 and a beta of 1.00.
AVX Corp. (NYSE:AVX) last announced its quarterly earnings data on Wednesday, July 27th. The company reported $0.19 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.19. The firm had revenue of $314.82 million for the quarter, compared to analyst estimates of $310.80 million. AVX Corp. had a return on equity of 5.79% and a net margin of 9.69%. The business’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same period last year, the company earned $0.21 EPS. On average, analysts anticipate that AVX Corp. will post $0.72 earnings per share for the current fiscal year.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Legal & General Group Plc increased its position in AVX Corp. by 15.9% in the first quarter. Legal & General Group Plc now owns 9,856 shares of the company’s stock worth $123,000 after buying an additional 1,353 shares during the period. KCG Holdings Inc. acquired a new stake in shares of AVX Corp. during the second quarter valued at approximately $186,000. BlackRock Inc. increased its stake in shares of AVX Corp. by 105.2% in the second quarter. BlackRock Inc. now owns 14,261 shares of the company’s stock valued at $194,000 after buying an additional 7,310 shares during the last quarter. TFS Capital LLC acquired a new stake in shares of AVX Corp. during the second quarter valued at approximately $197,000. Finally, Wellington Management Group LLP increased its stake in shares of AVX Corp. by 96.2% in the first quarter. Wellington Management Group LLP now owns 20,863 shares of the company’s stock valued at $262,000 after buying an additional 10,232 shares during the last quarter. 24.69% of the stock is currently owned by institutional investors.
AVX Corp. Company Profile
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 primarily of surface mount and leaded ceramic capacitors, radio frequency (RF) thick and thin film components, surface mount and leaded tantalum capacitors, surface mount and leaded film capacitors, ceramic and film power capacitors, among others.
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