Louisiana State Employees Retirement System Invests $1.46 Million in Avnet, Inc. $AVT

Louisiana State Employees Retirement System purchased a new stake in shares of Avnet, Inc. (NASDAQ:AVT) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 23,700 shares of the company’s stock, valued at approximately $1,460,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Jefferies Financial Group Inc. purchased a new stake in Avnet during the 4th quarter valued at $602,000. Jupiter Asset Management Ltd. purchased a new position in shares of Avnet in the fourth quarter worth $4,865,000. GSA Capital Partners LLP raised its stake in shares of Avnet by 255.2% in the fourth quarter. GSA Capital Partners LLP now owns 41,830 shares of the company’s stock worth $2,011,000 after purchasing an additional 30,052 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Avnet by 22.6% in the third quarter. JPMorgan Chase & Co. now owns 576,725 shares of the company’s stock worth $30,151,000 after purchasing an additional 106,160 shares during the last quarter. Finally, LSV Asset Management lifted its holdings in shares of Avnet by 7.6% during the fourth quarter. LSV Asset Management now owns 2,811,171 shares of the company’s stock valued at $135,161,000 after purchasing an additional 197,400 shares in the last quarter. Institutional investors own 95.78% of the company’s stock.

Avnet Price Performance

NASDAQ AVT opened at $82.18 on Friday. The stock has a market capitalization of $6.74 billion, a price-to-earnings ratio of 31.98, a PEG ratio of 0.28 and a beta of 1.09. Avnet, Inc. has a 1-year low of $44.25 and a 1-year high of $95.26. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.01 and a quick ratio of 1.05. The business’s fifty day moving average price is $85.90 and its 200-day moving average price is $68.65.

Avnet (NASDAQ:AVT) last issued its quarterly earnings data on Wednesday, April 29th. The company reported $1.48 EPS for the quarter, topping the consensus estimate of $1.33 by $0.15. The company had revenue of $7.12 billion during the quarter, compared to analyst estimates of $6.45 billion. Avnet had a return on equity of 7.07% and a net margin of 0.86%.Avnet’s revenue was up 34.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.84 earnings per share. Avnet has set its Q4 2026 guidance at 1.700-1.800 EPS. On average, equities analysts predict that Avnet, Inc. will post 5.12 earnings per share for the current year.

Avnet Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Wednesday, June 3rd were given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend was Wednesday, June 3rd. Avnet’s dividend payout ratio (DPR) is presently 54.47%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on AVT shares. Zacks Research cut Avnet from a “strong-buy” rating to a “hold” rating in a research report on Tuesday. Truist Financial boosted their target price on Avnet to $95.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. Wall Street Zen cut shares of Avnet from a “strong-buy” rating to a “buy” rating in a research note on Sunday, May 10th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Avnet in a report on Tuesday, June 16th. Finally, Wells Fargo & Company lifted their price target on shares of Avnet from $60.00 to $70.00 and gave the stock an “underweight” rating in a research note on Thursday, April 30th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Avnet presently has a consensus rating of “Hold” and an average price target of $89.00.

Insider Activity

In other Avnet news, CEO Philip R. Gallagher sold 23,920 shares of the business’s stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $82.92, for a total transaction of $1,983,446.40. Following the completion of the sale, the chief executive officer directly owned 145,003 shares in the company, valued at $12,023,648.76. The trade was a 14.16% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.90% of the stock is currently owned by corporate insiders.

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.