MQS Management LLC Has $435,000 Stock Holdings in Avnet, Inc. $AVT

MQS Management LLC raised its holdings in Avnet, Inc. (NASDAQ:AVT) by 8.4% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 8,196 shares of the company’s stock after purchasing an additional 635 shares during the quarter. MQS Management LLC’s holdings in Avnet were worth $435,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of AVT. Robeco Institutional Asset Management B.V. boosted its holdings in shares of Avnet by 3.7% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 40,078 shares of the company’s stock valued at $1,927,000 after purchasing an additional 1,422 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in Avnet during the 1st quarter worth $49,000. Highland Capital Management LLC grew its position in Avnet by 24.7% during the 1st quarter. Highland Capital Management LLC now owns 5,281 shares of the company’s stock worth $254,000 after acquiring an additional 1,047 shares during the last quarter. Eads & Heald Wealth Management grew its position in Avnet by 12.0% during the 1st quarter. Eads & Heald Wealth Management now owns 10,924 shares of the company’s stock worth $525,000 after acquiring an additional 1,168 shares during the last quarter. Finally, Kendall Capital Management grew its position in Avnet by 7.7% during the 1st quarter. Kendall Capital Management now owns 143,445 shares of the company’s stock worth $6,898,000 after acquiring an additional 10,240 shares during the last quarter. Institutional investors and hedge funds own 95.78% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on AVT. Truist Financial boosted their price objective on Avnet from $50.00 to $54.00 and gave the stock a “hold” rating in a research report on Thursday, August 7th. Bank of America boosted their price objective on Avnet from $48.00 to $50.00 and gave the stock an “underperform” rating in a research report on Monday, August 11th. Weiss Ratings restated a “hold (c+)” rating on shares of Avnet in a research report on Friday. Finally, Zacks Research upgraded Avnet from a “strong sell” rating to a “hold” rating in a research report on Monday, October 20th. Three analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Avnet currently has a consensus rating of “Reduce” and an average price target of $49.00.

Avnet Stock Down 1.2%

Shares of AVT opened at $51.49 on Friday. The company has a market capitalization of $4.29 billion, a PE ratio of 18.86, a PEG ratio of 0.38 and a beta of 1.06. Avnet, Inc. has a 12 month low of $39.22 and a 12 month high of $59.24. The stock’s 50-day moving average price is $52.83 and its two-hundred day moving average price is $52.04. The company has a current ratio of 2.43, a quick ratio of 1.16 and a debt-to-equity ratio of 0.51.

Avnet (NASDAQ:AVT) last announced its earnings results on Wednesday, August 6th. The company reported $0.81 EPS for the quarter, topping the consensus estimate of $0.72 by $0.09. The firm had revenue of $5.62 billion for the quarter, compared to the consensus estimate of $5.36 billion. Avnet had a return on equity of 6.07% and a net margin of 1.08%.The business’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.22 EPS. On average, analysts anticipate that Avnet, Inc. will post 3.41 EPS for the current 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 $0.35 dividend. 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 2.7%. This is a positive change from Avnet’s previous quarterly dividend of $0.33. Avnet’s dividend payout ratio (DPR) is presently 51.28%.

Avnet Company 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.