Los Angeles Capital Management LLC Has $25.23 Million Holdings in Avnet, Inc. (NASDAQ:AVT)

Los Angeles Capital Management LLC increased its holdings in Avnet, Inc. (NASDAQ:AVT) by 6.7% during the 4th quarter, HoldingsChannel.com reports. The firm owned 500,608 shares of the company’s stock after purchasing an additional 31,485 shares during the period. Los Angeles Capital Management LLC’s holdings in Avnet were worth $25,231,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. CWM LLC grew its stake in shares of Avnet by 330.2% in the third quarter. CWM LLC now owns 641 shares of the company’s stock worth $31,000 after purchasing an additional 492 shares during the last quarter. Venturi Wealth Management LLC boosted its position in Avnet by 46.5% during the fourth quarter. Venturi Wealth Management LLC now owns 655 shares of the company’s stock valued at $33,000 after acquiring an additional 208 shares during the last quarter. Bruce G. Allen Investments LLC bought a new stake in Avnet during the fourth quarter valued at $40,000. GAMMA Investing LLC bought a new stake in Avnet during the fourth quarter valued at $63,000. Finally, Parkside Financial Bank & Trust boosted its position in Avnet by 19.1% during the third quarter. Parkside Financial Bank & Trust now owns 1,649 shares of the company’s stock valued at $79,000 after acquiring an additional 265 shares during the last quarter. Institutional investors own 95.78% of the company’s stock.

Avnet Stock Up 1.6 %

NASDAQ AVT traded up $0.77 during trading hours on Friday, hitting $49.41. The company’s stock had a trading volume of 746,177 shares, compared to its average volume of 581,849. Avnet, Inc. has a 52 week low of $40.44 and a 52 week high of $51.65. The company has a market capitalization of $4.46 billion, a PE ratio of 8.00, a price-to-earnings-growth ratio of 0.65 and a beta of 1.21. The company has a current ratio of 2.33, a quick ratio of 1.05 and a debt-to-equity ratio of 0.48. The company’s 50-day simple moving average is $47.92 and its two-hundred day simple moving average is $47.40.

Avnet (NASDAQ:AVT) last announced its quarterly earnings results on Wednesday, May 1st. The company reported $1.10 earnings per share for the quarter, missing the consensus estimate of $1.11 by ($0.01). Avnet had a net margin of 2.31% and a return on equity of 11.64%. The business had revenue of $5.65 billion during the quarter, compared to the consensus estimate of $5.71 billion. During the same period in the previous year, the business posted $2.00 EPS. Avnet’s revenue was down 13.2% compared to the same quarter last year. Research analysts anticipate that Avnet, Inc. will post 5.19 EPS for the current fiscal year.

Avnet Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Shareholders of record on Wednesday, March 6th were given a dividend of $0.31 per share. The ex-dividend date of this dividend was Tuesday, March 5th. This represents a $1.24 annualized dividend and a dividend yield of 2.51%. Avnet’s dividend payout ratio is currently 20.06%.

Analyst Upgrades and Downgrades

AVT has been the subject of several research reports. Truist Financial reduced their target price on Avnet from $49.00 to $48.00 and set a “hold” rating for the company in a research note on Thursday. The Goldman Sachs Group reduced their target price on Avnet from $48.00 to $42.00 and set a “sell” rating for the company in a research note on Thursday, February 1st. Two analysts have rated the stock with a sell rating and three have issued a hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $45.00.

About Avnet

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.