AVX Corp. (NYSE:AVX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Tuesday. The brokerage presently has a $18.00 target price on the stock. Zacks Investment Research’s target price would suggest a potential upside of 13.21% from the company’s previous close.

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. “

AVX Corp. (NYSE:AVX) traded up 0.32% during trading on Tuesday, hitting $15.90. 57,667 shares of the stock traded hands. The firm’s 50-day moving average is $15.24 and its 200 day moving average is $14.10. The stock has a market cap of $2.66 billion, a P/E ratio of 28.39 and a beta of 0.92. AVX Corp. has a 52 week low of $10.43 and a 52 week high of $16.07.

AVX Corp. (NYSE:AVX) last released its quarterly earnings results on Wednesday, October 26th. The company reported $0.15 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.17 by $0.02. AVX Corp. had a net margin of 9.26% and a return on equity of 5.44%. The business earned $327.50 million during the quarter, compared to the consensus estimate of $316.40 million. During the same period in the prior year, the firm earned $0.19 earnings per share. The business’s quarterly revenue was up 7.6% compared to the same quarter last year. Equities research analysts forecast that AVX Corp. will post $0.73 earnings per share for the current fiscal year.

A number of hedge funds have recently made changes to their positions in the company. Acrospire Investment Management LLC purchased a new stake in shares of AVX Corp. during the third quarter valued at $101,000. US Bancorp DE boosted its stake in shares of AVX Corp. by 277.0% in the third quarter. US Bancorp DE now owns 8,166 shares of the company’s stock worth $112,000 after buying an additional 6,000 shares during the period. Dynamic Capital Management Ltd bought a new stake in shares of AVX Corp. during the third quarter worth approximately $152,000. Verition Fund Management LLC bought a new stake in shares of AVX Corp. during the third quarter worth approximately $156,000. Finally, Principal Financial Group Inc. bought a new stake in shares of AVX Corp. during the third quarter worth approximately $158,000. 24.24% of the stock is owned by hedge funds and other institutional investors.

About AVX Corp.

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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