Opportunities in value-added services will support Avnet’s long-term profitability.
Avnet reported solid first-quarter results, as revenue exceeded guidance and our expectations for the period, though partly as a result of foreign exchange. Avnet continues to profit from strong global semiconductor demand, particularly in the European automotive and industrial markets, but it is still recovering from the loss of large customers in the U.S. We will maintain our $42 fair value estimate and no-moat rating for the firm. Shares are trading solidly within 3-star territory, and we wou...Avnet is a technology solutions company with an ecosystem delivering design, product, marketing and supply chain knowledge for customers at every stage of the product lifecycle. The company's primary operating groups include: Electronic Components, which markets, sells and distributes electronic components including semiconductors, interconnect, passive and electromechanical components and other integrated components from electronic component manufacturers; and Premier Farnell, which distributes a portfolio of kits, tools, electronic components and industrial automation components, as well as test and measurement products to both engineers and entrepreneurs.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
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