Renaissance Technologies LLC Boosts Stake in Avnet, Inc. $AVT

Renaissance Technologies LLC lifted its stake in shares of Avnet, Inc. (NASDAQ:AVT) by 420.3% in the first quarter, according to its most recent filing with the SEC. The fund owned 82,200 shares of the company’s stock after acquiring an additional 66,400 shares during the period. Renaissance Technologies LLC’s holdings in Avnet were worth $5,065,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AVT. Summit Securities Group LLC purchased a new position in shares of Avnet in the 4th quarter worth about $28,000. BOKF NA raised its holdings in shares of Avnet by 1,116.7% during the 3rd quarter. BOKF NA now owns 584 shares of the company’s stock valued at $31,000 after buying an additional 536 shares in the last quarter. Hantz Financial Services Inc. lifted its position in Avnet by 62.0% in the 4th quarter. Hantz Financial Services Inc. now owns 852 shares of the company’s stock worth $41,000 after buying an additional 326 shares during the last quarter. Clearstead Advisors LLC lifted its position in Avnet by 123.7% in the 4th quarter. Clearstead Advisors LLC now owns 1,385 shares of the company’s stock worth $67,000 after buying an additional 766 shares during the last quarter. Finally, Kestra Advisory Services LLC bought a new stake in Avnet in the 4th quarter worth approximately $90,000. 95.78% of the stock is currently owned by hedge funds and other institutional investors.

Avnet News Summary

Here are the key news stories impacting Avnet this week:

• Positive Sentiment: Strong quarterly beat: Avnet reported fiscal Q4 revenue of $8.30 billion, up 47.7% year over year and above the $7.56 billion consensus estimate. Adjusted earnings of $2.28 per share also exceeded expectations of approximately $1.76-$1.80, supported by broad-based demand, record segment sales and margin improvement. Avnet Reports Fourth Quarter and Fiscal 2026 Financial Results
• Positive Sentiment: Demand recovery strengthens outlook: Management highlighted rising bookings, longer lead times and recovery across end markets. Fiscal 2026 sales reached $27.6 billion, up 25%, while Electronic Components generated $7.8 billion in fourth-quarter sales. AVT Q4 Earnings Call Highlights Broad Demand Recovery
• Positive Sentiment: Above-consensus fiscal 2027 guidance: Avnet provided first-quarter fiscal 2027 revenue guidance of roughly $9.0 billion-$9.3 billion and EPS guidance materially above analyst expectations, suggesting continued volume growth and favorable product mix. Avnet Q4 Earnings Beat on Broad-Based Demand and Margin Gains
• Positive Sentiment: Edge-AI expansion: Avnet and Weston Robot are launching an edge-AI inspection platform, potentially expanding Avnet’s position in industrial automation and machine-vision applications. The partnership is strategically positive, although near-term financial impact was not disclosed. Avnet and Weston Robot partner to launch edge AI inspection platform
• Neutral Sentiment: Avnet returned capital through $138 million of fiscal-year share repurchases and $114 million in dividends, supporting shareholder returns but not materially changing the near-term earnings outlook.
• Negative Sentiment: Recent insider activity cited in coverage showed executives selling shares and no purchases over the past six months. This may weigh modestly on sentiment, although the transactions do not necessarily indicate a change in the company’s fundamentals.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Raymond James Financial reiterated a “strong-buy” rating and set a $95.00 price target on shares of Avnet in a research report on Thursday, April 30th. Wall Street Zen upgraded shares of Avnet from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 25th. Zacks Research lowered shares of Avnet from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 30th. Weiss Ratings cut shares of Avnet from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, July 28th. Finally, Wells Fargo & Company boosted their price target on shares of Avnet from $70.00 to $72.00 and gave the stock an “underweight” rating in a research note on Monday, July 20th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $93.25.

Avnet Price Performance

Shares of Avnet stock opened at $96.80 on Friday. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.78 and a quick ratio of 1.05. Avnet, Inc. has a one year low of $44.25 and a one year high of $100.00. The business’s 50 day simple moving average is $88.12 and its two-hundred day simple moving average is $75.35. The stock has a market capitalization of $7.94 billion, a P/E ratio of 24.26, a price-to-earnings-growth ratio of 0.31 and a beta of 1.09.

Avnet (NASDAQ:AVT) 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 firm had revenue of $8.30 billion during the quarter, compared to analyst estimates of $7.56 billion. During the same quarter in the prior year, the firm posted $0.81 earnings per share. The business’s quarterly revenue was up 47.7% compared to the same quarter last year. Avnet has set its Q1 2027 guidance at 2.800-2.900 EPS. Analysts forecast that Avnet, Inc. will post 7.3 EPS for the current year.

Avnet Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Wednesday, June 3rd were given a dividend of $0.35 per share. The ex-dividend date of this dividend was Wednesday, June 3rd. This represents a $1.40 annualized dividend and a yield of 1.4%. Avnet’s dividend payout ratio is presently 54.47%.

Avnet Profile

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.