Avnet, Inc. (AVT) recently saw quarter over quarter growth as the global recession eased. The company is trading with a forward P/E of 13.2.

Company Description

Avnet distributes electronic components and computer products to customers in 70 countries worldwide. It also provides services such as supply-chain and design-chain services, logistics solutions, product assembly, device programming, computer system configuration and integration and technical seminars to allow its customers to operate efficiently.

Avnet Surprised By 29.41% in the Fiscal First Quarter

On Oct 29, Avnet reported better than expected fiscal first quarter 2010 results. It beat the Zacks Consensus Estimate by 10 cents. Earnings per share were 44 cents compared to the consensus of 34 cents. This was under the year ago period, however, which saw 67 cents.

Revenue fell 3.1% to $4.36 billion compared to the year ago period. The Electronics Marketing segment was the weaker segment with revenue falling

...

Avnet Inc. (AVT) recently entered into a distribution agreement with India-based MosChip Semiconductor Technology Ltd.

Based in Phoenix, Arizona, Avnet is one of the world’s largest distributors of electronic components and computer products. MosChip provides high performance multimedia and connectivity solutions for consumer, industrial and computing applications.

According to the deal, Avnet’s Electronics Marketing unit will distribute MosChip products throughout Asia. The distribution agreement spans Australia, China, India, Korea, Hong Kong, New Zealand, Taiwan and Southeast Asia. MosChip products include Network Appliance Processors and co-processors, audio / video processors, USB and PCI / PCI Express connectivity semiconductors.

Last month, Avnet reported weak fourth-quarter results as its top line remained challenged by adverse business conditions amid the global economic slowdown. The company’s organic growth continues to be lackluster and it continues to expand only through acquisitions.

Although both bookings and billings increased during the period and backlog was up

...

NetScout Systems, Inc. (

...

Xilinx, Inc. (XLNX) designs and manufactures a broad range of high-performance, high-density programmable logic devices (PLDs) such as field-programmable gate arrays and complex-programmable logic devices. These logic devices are used to direct signal traffic within a digital system. Equipment manufacturers across a wide range of industries employ PLDs in their devices.Avnet (AVT) distributes the majority of the company s products. As of March 29, 2008, Avnet accounted for 83% of its total accounts. Resale of products through Avnet accounted for 61% of the company's worldwide net revenues.Going forward, management recently downgraded the guidance for third quarter and now expects sales to be down by approximately 6%-10% sequentially, primarily due to much weaker-than-anticipated sales in December from a broad base of end markets, down from the previous estimate of sales, up 2% or down 2% q/q.The company is expected to report results ...