We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Avnet (AVT) Expands Portfolio With The New API Connection
Read MoreHide Full Article
Avnet (AVT - Free Report) recently announced the addition of CircuitByte’s "DistiDirect" support in the newly released bill-of-materials (BOM) price calculation and purchasing tool.
BOM Connector’s DistiDirect feature uses application programming interface (API) technology to facilitate a real-time connection between customers and suppliers. With this feature, customers will be able to access information about prices, availability, stock levels, packaging options and lead-times for the components in one or more BOMs.
The new feature is available for Avnet Speedboats customers, including Abacus, EBV and Silica. The addition of the DistiDirect API connection bolsters the expansion of Avnet’s robust product portfolio.
Meanwhile, Avnet shares have declined 23.1% year to date against the Zacks Electronics - Parts Distribution industry’s growth of 3.3%.
Continuous Developments in IoT Space Drives Growth
Notably, per a MarketsandMarkets report, the global Internet of Things (IoT) market size is expected to reach $561 billion by 2022, reflecting a CAGR of 26.9% from 2017-2022. Consequently, Avnet stands to benefit from the increasing demand for IoT solutions among developers and designers.
Moreover, last week, the company launched the AVT9152 module, which supports low-power consumption and complex connectivity needs. The new module facilitates flexible and rapid development for IoT products with an end-to-end cloud connection platform.
Further, Avnet’s newly launched Monarch LTE-M Development Kit simplifies IoT connectivity for developers. It provides them with a complete set of software and services powered by Verizon Communications’ (VZ - Free Report) SIM and ThingSpace IoT platform and Microsoft’s (MSFT - Free Report) Azure cloud platform.
Moreover, Avnet has pursued several strategic acquisitions in the past few years, including Witekio, Softweb Solutions, Dragon Innovation, Premier Farnell and Hackster.io, which serves as a key catalyst.
The buyouts have enhanced the company’s capabilities in the IoT space and boosted the performance of its product portfolio, thereby driving the top line. Further, Avnet has improved its competitive position in the IoT market and expanded its customer base with the help of these acquisitions.
Notably, Premier Farnell revenues for the first quarter of fiscal 2021 grew 16.7% sequentially and 1.5% year over year, to 340.9 million, driven by the company’s ongoing efforts to reduce costs and increase investments to aid value addition.
Legal Marijuana: An Investor’s Dream
Imagine getting in early on a young industry primed to skyrocket from $17.7 billion in 2019 to an expected $73.6 billion by 2027.
Although marijuana stocks did better as the pandemic took hold than the market as a whole, they’ve been pushed down. This is exactly the right time to get in on selected strong companies at a fraction of their value before COVID struck. Zacks’ Special Report, Marijuana Moneymakers, reveals 10 exciting tickers for urgent consideration.
Image: Bigstock
Avnet (AVT) Expands Portfolio With The New API Connection
Avnet (AVT - Free Report) recently announced the addition of CircuitByte’s "DistiDirect" support in the newly released bill-of-materials (BOM) price calculation and purchasing tool.
BOM Connector’s DistiDirect feature uses application programming interface (API) technology to facilitate a real-time connection between customers and suppliers. With this feature, customers will be able to access information about prices, availability, stock levels, packaging options and lead-times for the components in one or more BOMs.
The new feature is available for Avnet Speedboats customers, including Abacus, EBV and Silica. The addition of the DistiDirect API connection bolsters the expansion of Avnet’s robust product portfolio.
Meanwhile, Avnet shares have declined 23.1% year to date against the Zacks Electronics - Parts Distribution industry’s growth of 3.3%.
Avnet, Inc. Price and Consensus
Avnet, Inc. price-consensus-chart | Avnet, Inc. Quote
Continuous Developments in IoT Space Drives Growth
Notably, per a MarketsandMarkets report, the global Internet of Things (IoT) market size is expected to reach $561 billion by 2022, reflecting a CAGR of 26.9% from 2017-2022. Consequently, Avnet stands to benefit from the increasing demand for IoT solutions among developers and designers.
Moreover, last week, the company launched the AVT9152 module, which supports low-power consumption and complex connectivity needs. The new module facilitates flexible and rapid development for IoT products with an end-to-end cloud connection platform.
Further, Avnet’s newly launched Monarch LTE-M Development Kit simplifies IoT connectivity for developers. It provides them with a complete set of software and services powered by Verizon Communications’ (VZ - Free Report) SIM and ThingSpace IoT platform and Microsoft’s (MSFT - Free Report) Azure cloud platform.
Additionally, this Zacks Rank #1 (Strong Buy) company’s partnership with AT&T (T - Free Report) in the IoT front is a major positive. You can see the complete list of today’s Zacks #1 Rank stocks here.
Moreover, Avnet has pursued several strategic acquisitions in the past few years, including Witekio, Softweb Solutions, Dragon Innovation, Premier Farnell and Hackster.io, which serves as a key catalyst.
The buyouts have enhanced the company’s capabilities in the IoT space and boosted the performance of its product portfolio, thereby driving the top line. Further, Avnet has improved its competitive position in the IoT market and expanded its customer base with the help of these acquisitions.
Notably, Premier Farnell revenues for the first quarter of fiscal 2021 grew 16.7% sequentially and 1.5% year over year, to 340.9 million, driven by the company’s ongoing efforts to reduce costs and increase investments to aid value addition.
Legal Marijuana: An Investor’s Dream
Imagine getting in early on a young industry primed to skyrocket from $17.7 billion in 2019 to an expected $73.6 billion by 2027.
Although marijuana stocks did better as the pandemic took hold than the market as a whole, they’ve been pushed down. This is exactly the right time to get in on selected strong companies at a fraction of their value before COVID struck. Zacks’ Special Report, Marijuana Moneymakers, reveals 10 exciting tickers for urgent consideration.
Download Marijuana Moneymakers FREE >>