Cinctive Capital Management LP Makes New $6.84 Million Investment in Avnet, Inc. $AVT

Cinctive Capital Management LP purchased a new position in shares of Avnet, Inc. (NASDAQ:AVT) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 142,265 shares of the company’s stock, valued at approximately $6,840,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in Avnet by 2.0% during the third quarter. Vanguard Group Inc. now owns 10,783,059 shares of the company’s stock worth $563,738,000 after purchasing an additional 214,290 shares during the period. American Century Companies Inc. lifted its stake in Avnet by 3.4% during the third quarter. American Century Companies Inc. now owns 3,751,726 shares of the company’s stock worth $196,140,000 after purchasing an additional 124,466 shares during the period. AQR Capital Management LLC lifted its stake in Avnet by 30.7% during the fourth quarter. AQR Capital Management LLC now owns 2,961,608 shares of the company’s stock worth $142,394,000 after purchasing an additional 695,929 shares during the period. LSV Asset Management lifted its stake in Avnet by 7.6% during the fourth quarter. LSV Asset Management now owns 2,811,171 shares of the company’s stock worth $135,161,000 after purchasing an additional 197,400 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC lifted its stake in Avnet by 5.3% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 2,011,676 shares of the company’s stock worth $105,170,000 after purchasing an additional 101,873 shares during the period. Institutional investors own 95.78% of the company’s stock.

Avnet Stock Performance

NASDAQ:AVT opened at $89.81 on Thursday. Avnet, Inc. has a 1 year low of $44.25 and a 1 year high of $95.26. The firm has a 50 day moving average of $81.85 and a 200-day moving average of $65.58. The company has a current ratio of 2.01, a quick ratio of 1.05 and a debt-to-equity ratio of 0.50. The stock has a market capitalization of $7.37 billion, a P/E ratio of 34.95, a price-to-earnings-growth ratio of 0.41 and a beta of 1.08.

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

Avnet Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Investors of record on Wednesday, June 3rd were given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 1.6%. The ex-dividend date was Wednesday, June 3rd. Avnet’s payout ratio is 54.47%.

Insiders Place Their Bets

In related news, CEO Philip R. Gallagher sold 23,920 shares of the business’s stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $82.92, for a total value of $1,983,446.40. Following the completion of the transaction, the chief executive officer 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 at the SEC website. 1.90% of the stock is owned by company insiders.

Analysts Set New Price Targets

AVT has been the subject of a number of analyst reports. Truist Financial raised their price target on shares of Avnet to $95.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. Bank of America upgraded shares of Avnet from an “underperform” rating to a “neutral” rating and lifted their target price for the company from $66.00 to $96.00 in a research note on Wednesday, May 13th. Wells Fargo & Company lifted their target price on shares of Avnet from $60.00 to $70.00 and gave the company an “underweight” rating in a research note on Thursday, April 30th. Wall Street Zen cut shares of Avnet from a “strong-buy” rating to a “buy” rating in a research note on Sunday, May 10th. Finally, Raymond James Financial reiterated a “strong-buy” rating and issued a $95.00 target price on shares of Avnet in a research note on Thursday, April 30th. Two research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $89.00.

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.