Philip Gallagher Sells 51,900 Shares of Avnet (NASDAQ:AVT) Stock

Avnet, Inc. (NASDAQ:AVT) CEO Philip Gallagher sold 51,900 shares of the company’s stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $98.46, for a total value of $5,110,074.00. Following the transaction, the chief executive officer directly owned 168,923 shares in the company, valued at $16,632,158.58. The trade was a 23.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Avnet Stock Down 0.3%

Shares of Avnet stock opened at $95.71 on Friday. Avnet, Inc. has a 1 year low of $44.25 and a 1 year high of $100.00. The company has a market cap of $7.85 billion, a P/E ratio of 23.99, 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 has a 50-day moving average price of $89.01 and a 200 day moving average price of $77.10.

Avnet (NASDAQ:AVT) last released its earnings results on Wednesday, August 5th. The company reported $2.28 earnings per share for the quarter, beating the consensus estimate of $1.80 by $0.48. The company had revenue of $8.30 billion for the quarter, compared to analysts’ expectations of $7.56 billion. Avnet had a return on equity of 9.57% and a net margin of 1.21%.The business’s revenue for the quarter was up 47.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.81 EPS. Avnet has set its Q1 2027 guidance at 2.800-2.900 EPS. As a group, analysts expect that Avnet, Inc. will post 9.66 EPS for the current fiscal year.

Avnet Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Wednesday, June 3rd were paid a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 1.5%. The ex-dividend date was Wednesday, June 3rd. Avnet’s dividend payout ratio is currently 35.09%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Weiss Ratings lowered shares of Avnet from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, July 28th. Wells Fargo & Company upped 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. Bank of America upgraded Avnet from an “underperform” rating to a “neutral” rating and increased their price objective for the stock from $66.00 to $96.00 in a report on Wednesday, May 13th. Raymond James Financial reissued a “strong-buy” rating and set a $95.00 price objective on shares of Avnet in a research report on Thursday, April 30th. Finally, Wall Street Zen upgraded Avnet from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 25th. Two equities research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $93.25.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Empowered Funds LLC raised its holdings in shares of Avnet by 1.9% during the 1st quarter. Empowered Funds LLC now owns 6,833 shares of the company’s stock valued at $421,000 after purchasing an additional 129 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in Avnet by 0.8% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 20,511 shares of the company’s stock valued at $1,264,000 after purchasing an additional 159 shares during the period. Nations Financial Group Inc. IA ADV lifted its stake in shares of Avnet by 1.6% in the first quarter. Nations Financial Group Inc. IA ADV now owns 10,896 shares of the company’s stock valued at $671,000 after buying an additional 176 shares during the period. Quadrant Capital Group LLC lifted its position in shares of Avnet by 2.1% in the 4th quarter. Quadrant Capital Group LLC now owns 8,778 shares of the company’s stock worth $422,000 after acquiring an additional 184 shares during the period. Finally, Elevation Wealth Partners LLC boosted its stake in Avnet by 38.5% during the second quarter. Elevation Wealth Partners LLC now owns 666 shares of the company’s stock worth $59,000 after buying an additional 185 shares in the last quarter. Institutional investors and hedge funds own 95.78% 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.