ProShare Advisors LLC Lowers Holdings in Avnet, Inc. $AVT

ProShare Advisors LLC lowered its position in shares of Avnet, Inc. (NASDAQ:AVT) by 8.9% in the second quarter, Holdings Channel reports. The institutional investor owned 116,328 shares of the company’s stock after selling 11,309 shares during the period. ProShare Advisors LLC’s holdings in Avnet were worth $6,175,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. American Century Companies Inc. increased its stake in shares of Avnet by 10.8% during the first quarter. American Century Companies Inc. now owns 3,880,865 shares of the company’s stock worth $186,631,000 after acquiring an additional 378,440 shares during the period. Woodline Partners LP boosted its holdings in Avnet by 44.9% in the 1st quarter. Woodline Partners LP now owns 1,055,356 shares of the company’s stock valued at $50,752,000 after purchasing an additional 327,195 shares in the last quarter. Pzena Investment Management LLC increased its position in Avnet by 2.9% during the 2nd quarter. Pzena Investment Management LLC now owns 7,341,299 shares of the company’s stock worth $389,676,000 after purchasing an additional 209,003 shares during the period. Nuveen LLC purchased a new position in shares of Avnet during the 1st quarter worth approximately $9,703,000. Finally, Gotham Asset Management LLC lifted its holdings in shares of Avnet by 96.1% in the 1st quarter. Gotham Asset Management LLC now owns 369,807 shares of the company’s stock valued at $17,784,000 after buying an additional 181,246 shares during the period. Hedge funds and other institutional investors own 95.78% of the company’s stock.

Avnet Trading Down 0.9%

NASDAQ:AVT opened at $46.75 on Friday. The company has a market capitalization of $3.80 billion, a PE ratio of 17.44, a price-to-earnings-growth ratio of 0.36 and a beta of 1.05. The company has a quick ratio of 1.16, a current ratio of 2.36 and a debt-to-equity ratio of 0.58. Avnet, Inc. has a 52-week low of $39.22 and a 52-week high of $57.24. The stock has a fifty day simple moving average of $51.16 and a 200-day simple moving average of $52.08.

Avnet (NASDAQ:AVT) last issued its quarterly earnings data on Wednesday, October 29th. The company reported $0.84 EPS for the quarter, beating analysts’ consensus estimates of $0.81 by $0.03. Avnet had a net margin of 1.04% and a return on equity of 5.91%. The firm had revenue of $5.90 billion for the quarter, compared to analysts’ expectations of $5.73 billion. During the same period in the prior year, the company earned $0.92 EPS. The firm’s revenue was up 5.3% on a year-over-year basis. Avnet has set its Q2 2026 guidance at 0.900-1.000 EPS. On average, equities research analysts expect that Avnet, Inc. will post 3.41 earnings per share for the current fiscal year.

Avnet Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 26th. Stockholders of record on Wednesday, September 17th were paid a dividend of $0.35 per share. This is a positive change from Avnet’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend was Wednesday, September 17th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.0%. Avnet’s dividend payout ratio is 52.24%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on AVT. Zacks Research raised Avnet from a “strong sell” rating to a “hold” rating in a report on Monday, October 20th. Weiss Ratings restated a “hold (c+)” rating on shares of Avnet in a research report on Wednesday, October 8th. Truist Financial upped their price target on shares of Avnet from $54.00 to $55.00 and gave the stock a “hold” rating in a research note on Thursday, October 30th. Finally, Bank of America raised their price objective on shares of Avnet from $48.00 to $50.00 and gave the company an “underperform” rating in a research note on Monday, August 11th. Three equities research analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Reduce” and an average target price of $49.33.

Avnet Profile

Avnet, Inc, distributes electronic component technology. The company operates through two segments, Electronic Components and Farnell. The Electronic Components segment markets, sells, and distributes semiconductors; interconnect, passive, and electromechanical components; and other integrated components from electronic component manufacturers.