Quartz Partners LLC Takes $894,000 Position in Avnet, Inc. $AVT

Quartz Partners LLC acquired a new position in Avnet, Inc. (NASDAQ:AVT – Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 10,060 shares of the company’s stock, valued at approximately $894,000.

Other large investors have also made changes to their positions in the company. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of Avnet in the second quarter worth $25,000. State of Wyoming bought a new stake in Avnet in the second quarter valued at about $37,000. Summit Securities Group LLC bought a new stake in shares of Avnet in the 4th quarter valued at approximately $28,000. BOKF NA raised its stake in Avnet by 1,116.7% during the third quarter. BOKF NA now owns 584 shares of the company’s stock worth $31,000 after acquiring an additional 536 shares in the last quarter. Finally, Elevation Wealth Partners LLC lifted its holdings in Avnet by 38.5% during the 2nd quarter. Elevation Wealth Partners LLC now owns 666 shares of the company’s stock valued at $59,000 after purchasing an additional 185 shares during the last quarter. Institutional investors and hedge funds own 95.78% of the company’s stock.

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Insider Activity

In other news, CEO Philip R. Gallagher sold 51,900 shares of the company’s stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $98.46, for a total value of $5,110,074.00. Following the transaction, the chief executive officer owned 168,923 shares of the company’s stock, valued at approximately $16,632,158.58. This represents a 23.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.90% of the stock is currently owned by corporate insiders.

Avnet Trading Down 5.4%

AVT stock opened at $88.34 on Thursday. Avnet, Inc. has a one year low of $44.25 and a one year high of $100.00. The stock has a market cap of $7.25 billion, a price-to-earnings ratio of 22.14, a price-to-earnings-growth ratio of 0.31 and a beta of 1.09. The company has a fifty day moving average price of $89.43 and a two-hundred day moving average price of $78.02. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.78 and a quick ratio of 0.97.

Avnet (NASDAQ:AVT – Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $2.28 earnings per share for the quarter, beating the consensus estimate of $1.80 by $0.48. The company had revenue of $8.30 billion for the quarter, compared to analyst estimates of $7.56 billion. Avnet had a net margin of 1.21% and a return on equity of 9.57%. The company’s revenue was up 47.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.81 earnings per share. Avnet has set its Q1 2027 guidance at 2.800-2.900 EPS. Equities analysts anticipate that Avnet, Inc. will post 9.66 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Raymond James Financial reiterated a “strong-buy” rating and issued a $95.00 price objective on shares of Avnet in a research report on Thursday, April 30th. Weiss Ratings raised shares of Avnet from a “hold (c+)” rating to a “buy (b)” rating in a research note on Friday, August 14th. Wall Street Zen upgraded Avnet from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 25th. Wells Fargo & Company increased their target price on Avnet from $70.00 to $72.00 and gave the stock an “underweight” rating in a report on Monday, July 20th. Finally, Zacks Research raised shares of Avnet from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 7th. Two equities research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $93.25.

Check Out Our Latest Research Report on Avnet

Avnet Company Profile

(Free Report)

Avnet, Inc (NASDAQ: AVT) is a global technology distributor and solutions provider specializing in the sourcing, design, and supply chain management of electronic components and embedded systems. The company offers a broad portfolio of semiconductors, interconnect, passive and electromechanical components, as well as embedded hardware and software, cloud solutions, and Internet of Things (IoT) services. Avnet’s offerings aim to support customers through every stage of the product lifecycle, from initial prototype and design to production and end-of-life management.

Founded in 1921 by Charles Avnet, the company has evolved from a regional radio parts supplier into a multinational enterprise.

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