Avnet, Inc.

Is Avnet publicly traded?
Yes. Avnet, Inc. trades on NASDAQ under the ticker AVT. It has been publicly traded since 1959 and is owned by institutional and retail shareholders with no controlling owner.

When was Avnet founded?
Avnet was founded in 1921 by Charles Avnet on Radio Row in New York City, initially selling surplus radio parts. It is one of the oldest technology distributors in the world and marked its centennial in 2021.

What does Avnet distribute?
Avnet distributes semiconductors, interconnect and passive components, embedded systems, and computer products to manufacturers. It also provides design-chain engineering, supply-chain services, and IoT solutions.

What is Farnell?
Farnell is Avnet's high-service distribution business, acquired through the 2016 purchase of Premier Farnell for approximately $900 million. It sells smaller quantities of components to engineers through e-commerce brands including element14, Newark, and Avnet Abacus.

Who is the CEO of Avnet?
Phil Gallagher is chief executive officer of Avnet. He became CEO in 2020 after more than three decades with the company in distribution and operations leadership roles.

Charles Avnet founded the business in 1921 on Radio Row in New York City, selling surplus radio parts as commercial broadcasting took off. The company grew with each wave of electronics demand: military radio supply during World War II, television components in the 1950s, and transistors and semiconductors in the 1960s.

The company incorporated as Avnet Electronics Corporation in 1955 and went public on the American Stock Exchange in 1959. Through the 1960s and 1970s it expanded beyond distribution into guitar manufacturing, owning the Guild Guitar Company, and automotive parts. By the 1980s it had consolidated around electronic component distribution, and it relocated its headquarters to Phoenix, Arizona, in the late 1980s.

The 1990s and 2000s were defined by acquisition-driven consolidation of the fragmented distribution industry. Avnet bought rivals and regional distributors across North America, Europe, and Asia, becoming one of the two dominant global players alongside Arrow Electronics. Notable deals included the 2005 acquisition of Memec and the 2016 purchase of Premier Farnell, the British high-service distributor behind the element14 and Newark brands, for approximately $900 million. The Farnell deal extended Avnet's reach into e-commerce distribution and engineering communities, including the element14 online community and the Hackster.io developer platform it later acquired.

In the 2010s Avnet also built an embedded solutions and IoT services business, offering design, integration, and logistics services beyond pure component reselling. Phil Gallagher succeeded Bill Amelio as CEO in 2020, having spent more than three decades at the company in distribution and operations leadership.

FY2024 and FY2025 covered the sharpest electronics inventory correction since the 2001 downturn, as customers worked down pandemic-era semiconductor stockpiles. Sales declined from a peak of $26.5 billion in FY2023 to $22.2 billion in FY2025, before Asia-led growth returned in the second half. Avnet returned $301 million to shareholders through buybacks and $113 million in dividends during FY2025 while cutting inventories by $414 million.

Avnet publishes an annual corporate social responsibility report covering emissions, supply chain ethics, and workforce programs. The company has set goals to reduce Scope 1 and 2 emissions and reports through CDP climate disclosure. Its role in the electronics supply chain gives it leverage over responsible sourcing, including conflict minerals compliance and supplier codes of conduct covering labor and environmental standards.

The company is not a B Corp and carries no independent sustainability certification for its operations. Its Farnell segment participates in electronic waste and packaging reduction programs in several markets.

Avnet has operated without a defining corporate scandal in recent decades. Its significant regulatory exposures are the ordinary risks of global electronics distribution: export control and sanctions compliance for dual-use components, anti-bribery rules under the FCPA, and conflict minerals disclosure under SEC rules. The company periodically faces commercial litigation over component supply agreements and has disclosed the settlement of a legal matter that produced a $66 million pre-tax gain in FY2025.