Meeder Asset Management Inc. Takes $2.98 Million Position in Avnet, Inc. $AVT

Meeder Asset Management Inc. purchased a new position in Avnet, Inc. (NASDAQ:AVT) during the second quarter, HoldingsChannel.com reports. The fund purchased 33,527 shares of the company’s stock, valued at approximately $2,978,000.

A number of other large investors also recently modified their holdings of the company. Empowered Funds LLC grew its stake in Avnet by 1.9% during the first quarter. Empowered Funds LLC now owns 6,833 shares of the company’s stock valued at $421,000 after acquiring an additional 129 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake 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 worth $1,264,000 after purchasing an additional 159 shares in the last quarter. Nations Financial Group Inc. IA ADV lifted its stake in Avnet by 1.6% in the 1st quarter. Nations Financial Group Inc. IA ADV now owns 10,896 shares of the company’s stock worth $671,000 after purchasing an additional 176 shares in the last quarter. Quadrant Capital Group LLC boosted its holdings in Avnet by 2.1% in the 4th quarter. Quadrant Capital Group LLC now owns 8,778 shares of the company’s stock valued at $422,000 after purchasing 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 valued at $59,000 after buying an additional 185 shares during the period. 95.78% of the stock is currently owned by institutional investors.

Avnet Stock Down 5.3%

Shares of NASDAQ AVT opened at $93.40 on Wednesday. The firm has a fifty day simple moving average of $89.37 and a two-hundred day simple moving average of $77.84. Avnet, Inc. has a 12 month low of $44.25 and a 12 month high of $100.00. 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 firm has a market capitalization of $7.66 billion, a PE ratio of 23.41, a price-to-earnings-growth ratio of 0.32 and a beta of 1.09.

Avnet (NASDAQ:AVT) last announced its earnings results 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 net margin of 1.21% and a return on equity of 9.57%. The firm had revenue of $8.30 billion for the quarter, compared to analyst estimates of $7.56 billion. During the same quarter in the previous year, the firm posted $0.81 EPS. The company’s revenue for the quarter was up 47.7% compared to the same quarter last year. Avnet has set its Q1 2027 guidance at 2.800-2.900 EPS. Equities analysts expect that Avnet, Inc. will post 9.66 earnings per share for the current year.

Insider Buying and Selling at Avnet

In related news, CEO Philip R. Gallagher sold 51,900 shares of Avnet stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $98.46, for a total transaction of $5,110,074.00. Following the sale, 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 hyperlink. 1.90% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have commented on AVT shares. Truist Financial boosted their price target on shares of Avnet from $95.00 to $110.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $95.00 price target on shares of Avnet in a research note on Thursday, April 30th. Wells Fargo & Company upped their price objective on shares of Avnet from $70.00 to $72.00 and gave the company an “underweight” rating in a research note on Monday, July 20th. Weiss Ratings upgraded Avnet from a “hold (c+)” rating to a “buy (b)” rating in a report on Friday. Finally, Zacks Research raised Avnet from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 7th. Two investment analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Avnet has a consensus rating of “Moderate Buy” and a consensus price target of $93.25.

Avnet Company 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.