Zacks Investment Research cut shares of AVX (NYSE:AVX) from a buy rating to a hold rating in a report released 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, ValuEngine upgraded shares of AVX from a hold rating to a buy rating in a research report on Sunday, December 31st.
AVX (NYSE:AVX) last issued its quarterly earnings data on Thursday, January 25th. The electronics maker reported $0.22 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.04. The firm had revenue of $431.80 million for the quarter, compared to the consensus estimate of $421.60 million. AVX had a net margin of 0.48% and a return on equity of 6.12%. AVX’s quarterly revenue was up 26.7% compared to the same quarter last year. During the same period last year, the firm posted $0.21 EPS. sell-side analysts expect that AVX will post 0.8 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 5th. Investors of record on Friday, February 23rd will be given a $0.115 dividend. The ex-dividend date of this dividend is Thursday, February 22nd. This represents a $0.46 annualized dividend and a yield of 2.65%. AVX’s dividend payout ratio is presently 920.18%.
In other news, insider Zahir Dhanani acquired 300,000 shares of the business’s stock in a transaction that occurred on Thursday, January 18th. The shares were purchased at an average cost of $0.09 per share, for a total transaction of $27,000.00. Over the last quarter, insiders purchased 901,000 shares of company stock worth $97,150. 0.50% of the stock is currently owned by insiders.
Several hedge funds have recently added to or reduced their stakes in the business. Aperio Group LLC raised its position in shares of AVX by 6.2% during the 3rd quarter. Aperio Group LLC now owns 52,966 shares of the electronics maker’s stock worth $966,000 after buying an additional 3,075 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of AVX by 6.5% during the 4th quarter. Victory Capital Management Inc. now owns 53,534 shares of the electronics maker’s stock worth $926,000 after buying an additional 3,248 shares in the last quarter. Geode Capital Management LLC raised its position in shares of AVX by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 533,242 shares of the electronics maker’s stock worth $9,225,000 after buying an additional 5,577 shares in the last quarter. Systematic Financial Management LP raised its position in shares of AVX by 14.5% during the 4th quarter. Systematic Financial Management LP now owns 76,025 shares of the electronics maker’s stock worth $1,315,000 after buying an additional 9,610 shares in the last quarter. Finally, Foundry Partners LLC raised its position in shares of AVX by 3.3% during the 4th quarter. Foundry Partners LLC now owns 317,163 shares of the electronics maker’s stock worth $5,487,000 after buying an additional 10,108 shares in the last quarter. Institutional investors own 24.38% of the company’s stock.
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 of surface mount and leaded ceramic capacitors, surface mount and leaded tantalum capacitors, surface mount and leaded film capacitors, thick and thin film packages of multiple passive integrated components, thermistors, inductors and resistive products.
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