Focused Alpha LLC purchased a new stake in Avnet, Inc. (NASDAQ:AVT – Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 8,338 shares of the company’s stock, valued at approximately $741,000.
Other large investors have also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in Avnet in the second quarter worth about $916,146,000. Dimensional Fund Advisors LP grew its stake in Avnet by 0.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 5,885,636 shares of the company’s stock worth $362,655,000 after buying an additional 22,137 shares during the last quarter. AQR Capital Management LLC grew its position in shares of Avnet by 30.7% during the fourth quarter. AQR Capital Management LLC now owns 2,961,608 shares of the company’s stock worth $142,394,000 after acquiring an additional 695,929 shares during the last quarter. LSV Asset Management grew its position in Avnet by 7.6% in the 4th quarter. LSV Asset Management now owns 2,811,171 shares of the company’s stock worth $135,161,000 after purchasing an additional 197,400 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC grew its holdings in Avnet by 5.3% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 2,011,676 shares of the company’s stock worth $105,170,000 after buying an additional 101,873 shares in the last quarter. 95.78% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
Several equities analysts have commented on AVT shares. Weiss Ratings raised shares of Avnet from a “hold (c+)” rating to a “buy (b)” rating in a research note on Friday. Wells Fargo & Company boosted their target price on Avnet from $70.00 to $72.00 and gave the stock an “underweight” rating in a research report on Monday, July 20th. Raymond James Financial restated a “strong-buy” rating and issued a $95.00 price target on shares of Avnet in a research report on Thursday, April 30th. Bank of America upgraded Avnet from an “underperform” rating to a “neutral” rating and raised their price objective for the stock from $66.00 to $96.00 in a research report on Wednesday, May 13th. Finally, Zacks Research raised shares of Avnet from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 7th. Two analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $93.25.
Avnet Stock Performance
AVT opened at $98.63 on Tuesday. Avnet, Inc. has a 1 year low of $44.25 and a 1 year high of $100.00. The stock has a market cap of $8.09 billion, a PE ratio of 24.72, a P/E/G ratio of 0.32 and a beta of 1.09. The company has a current ratio of 1.78, a quick ratio of 0.97 and a debt-to-equity ratio of 0.49. The stock’s 50 day simple moving average is $89.24 and its 200-day simple moving average is $77.60.
Avnet (NASDAQ:AVT – Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The company reported $2.28 earnings per share for the quarter, beating analysts’ consensus estimates of $1.80 by $0.48. Avnet had a return on equity of 9.57% and a net margin of 1.21%.The company had revenue of $8.30 billion for the quarter, compared to the consensus estimate of $7.56 billion. During the same period in the previous year, the business earned $0.81 earnings per share. The company’s quarterly revenue was up 47.7% on a year-over-year basis. Avnet has set its Q1 2027 guidance at 2.800-2.900 EPS. Sell-side analysts forecast that Avnet, Inc. will post 9.66 EPS for the current year.
Avnet Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 17th. Investors of record on Wednesday, June 3rd were issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend was Wednesday, June 3rd. Avnet’s payout ratio is currently 35.09%.
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 shares were sold at an average price of $98.46, for a total transaction of $5,110,074.00. Following the transaction, the chief executive officer directly owned 168,923 shares in the company, valued at approximately $16,632,158.58. This represents a 23.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.90% of the company’s stock.
About Avnet
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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