Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Avnet, Inc. (NYSE:AVT) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 4,300 shares of the technology company’s stock, valued at approximately $170,000.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Alpha Windward LLC acquired a new stake in shares of Avnet in the 3rd quarter valued at approximately $507,000. Diamond Hill Capital Management Inc. boosted its stake in shares of Avnet by 77.0% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 1,142,818 shares of the technology company’s stock valued at $44,913,000 after purchasing an additional 497,203 shares in the last quarter. Canada Pension Plan Investment Board boosted its stake in shares of Avnet by 304.4% in the 3rd quarter. Canada Pension Plan Investment Board now owns 214,010 shares of the technology company’s stock valued at $8,411,000 after purchasing an additional 161,088 shares in the last quarter. Janus Henderson Group PLC boosted its stake in shares of Avnet by 262.0% in the 3rd quarter. Janus Henderson Group PLC now owns 764,285 shares of the technology company’s stock valued at $30,037,000 after purchasing an additional 553,130 shares in the last quarter. Finally, Earnest Partners LLC acquired a new stake in shares of Avnet in the 3rd quarter valued at approximately $17,864,000. Institutional investors own 97.08% of the company’s stock.
Shares of Avnet, Inc. (AVT) opened at $41.48 on Monday. The company has a current ratio of 2.75, a quick ratio of 1.56 and a debt-to-equity ratio of 0.28. Avnet, Inc. has a 1 year low of $35.67 and a 1 year high of $47.19. The company has a market cap of $4,975.33, a P/E ratio of 12.72, a P/E/G ratio of 1.32 and a beta of 1.01.
Avnet (NYSE:AVT) last posted its earnings results on Thursday, January 25th. The technology company reported $0.78 EPS for the quarter, topping the consensus estimate of $0.72 by $0.06. Avnet had a net margin of 2.51% and a return on equity of 7.87%. The business had revenue of $4.52 billion for the quarter, compared to the consensus estimate of $4.46 billion. During the same period last year, the company earned $0.77 EPS. The firm’s revenue was up 5.8% compared to the same quarter last year. analysts predict that Avnet, Inc. will post 3.48 earnings per share for the current year.
Avnet declared that its board has initiated a stock repurchase program on Friday, November 10th that permits the company to buyback $200.00 million in shares. This buyback authorization permits the technology company to reacquire shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board believes its shares are undervalued.
In other news, CEO Amelio J. William purchased 3,000 shares of the stock in a transaction on Friday, December 8th. The stock was purchased at an average price of $39.16 per share, for a total transaction of $117,480.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.65% of the stock is currently owned by company insiders.
A number of equities research analysts have recently weighed in on the stock. Longbow Research upgraded shares of Avnet from a “neutral” rating to a “buy” rating in a research note on Friday, January 19th. Stifel Nicolaus lifted their target price on shares of Avnet from $40.00 to $42.00 and gave the stock a “hold” rating in a research report on Thursday, October 26th. TheStreet upgraded shares of Avnet from a “c” rating to a “b-” rating in a research report on Friday, November 10th. Zacks Investment Research upgraded shares of Avnet from a “hold” rating to a “buy” rating and set a $45.00 target price on the stock in a research report on Tuesday, October 10th. Finally, Goldman Sachs Group upgraded shares of Avnet from a “sell” rating to a “neutral” rating and set a $38.00 target price on the stock in a research report on Friday, January 5th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $39.57.
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Avnet, Inc is a distributor of electronic components, enterprise computer, networking and storage products and software, and embedded subsystems. The Company operates through Electronics Marketing (EM) segment. The EM segment markets and sells semiconductors; interconnect, passive and electromechanical devices (IP&E), and embedded products to a customer base serving various end markets.
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