|Bid||43.28 x 1200|
|Ask||43.31 x 800|
|Day's Range||43.23 - 44.08|
|52 Week Range||33.55 - 49.03|
|Beta (3Y Monthly)||1.63|
|PE Ratio (TTM)||27.13|
|Earnings Date||Oct 23, 2019 - Oct 28, 2019|
|Forward Dividend & Yield||0.84 (1.94%)|
|1y Target Est||43.13|
The buyout of Witekio is likely to add more capabilities in embedded software, edge computing and security to Avnet's (AVT) IoT business.
While Phoenix-based Avnet has made over 100 acquisitions in its over 95-year history, it has spent the past several years acquiring five companies to build out its ecosystem capability.
Leading global technology solutions provider Avnet (Nasdaq: AVT) has signed an agreement to acquire Witekio (formerly known as Adeneo Embedded). Witekio is a privately held company with expertise in software and embedded systems that helps developers overcome the technical challenges and complexity of developing Internet of Things (IoT) solutions. Today’s announcement furthers Avnet’s end-to-end IoT strategy by adding more capabilities and expertise in embedded software, edge computing and security, specifically from hardware to the cloud.
Avnet (AVT) partners with Trusted Objects to ensure faster time to market, cost reduction and better security for developers seeking to secure IoT deployments in cloud, middleware and on-device.
Leading global technology solutions provider Avnet (Nasdaq: AVT) has entered into a strategic alliance with Trusted Objects, a software company specializing in the Internet of Things (IoT) security, to bring to market a scalable end-to-end security solution for low-power IoT devices. The relationship provides IoT customers with the ability to comprehensively secure their devices while speeding time to market, reducing costs and managing complexity. “With Trusted Objects, we are able to more flexibly design secure IoT solutions that match our customers’ needs and, ultimately, their unique business cases,” said Lou Lutostanski, vice president of Internet of Things, Avnet.
Integrated kit harnesses the Xilinx Zynq UltraScale+ RFSoC and MATLAB to provide a seamless, easy-to-use platform for developing best-in-class wireless solutions
Avnet , a leading global technology solutions provider, today announced that the Company will participate in the following upcoming investor conferences in September:
Leading global technology solutions provider Avnet (Nasdaq: AVT) has secured Foreign-Trade Zone authorization from the United States Bureau of Customs and Border Protection (CBP) for its McKemy Distribution Center in Chandler, Ariz. The designation reduces tariff recovery fees for its international customers as well as for domestic customers shipping abroad. Foreign-Trade Zone authorization also increases the company’s global logistics efficiency and improves its cash flow.
It's the first FTZ designation for Avnet and is at the company’s largest warehouse in the Americas, located in the East Valley. Meanwhile, two startup vehicle manufacturers are applying for FTZ status in Pinal County.
Avnet Inc. said Monday it was increasing its dividend by 5% and adding $500 million to its stock repurchase program. The electronic components company's new quarterly dividend of 21 cents a share, up from 20 cents a share, will be payable Sept. 25 to shareholders of record on Sept. 11. Based on Friday's stock closing price of $40.99, the new annual dividend rate implies a dividend yield of 2.05%, compared with the implied yield for the S&P 500 of 2.02%. The company said it now has $675 million available to buy back stock, which based on Friday's closing prices would represent about 16% of the shares outstanding. The stock has lost 5.5% over the past three months, while the S&P 500 has gained 1.0%.
Avnet, Inc. (Nasdaq: AVT), a leading global technology solutions provider, today announced that on August 14, 2019, its Board of Directors approved an increase in Avnet’s current share repurchase authorization by $500 million. Avnet now has $675 million available for share repurchases when combined with prior authorizations. In addition, Avnet’s Board of Directors approved a 5% increase in the quarterly cash dividend to $.21 per share.
Leeds, England-based Premier Farnell, Avnet’s largest acquisition to date, saw its business hit hard by market declines during the latest period amid concerns over Brexit and the China-U.S. trade war.
Weakness in the components industry due to macroeconomic headwinds affects Avnet's (AVT) fiscal fourth-quarter results. However, cost saving efforts are a positive.
Avnet (AVT) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.