8,338 Shares in Avnet, Inc. $AVT Acquired by Focused Alpha LLC

Focused Alpha LLC purchased a new stake in Avnet, Inc. (NASDAQ:AVT) in the 2nd quarter, Holdings Channel reports. The firm purchased 8,338 shares of the company’s stock, valued at approximately $741,000.

Several other institutional investors and hedge funds have also modified their holdings of AVT. BlackRock Inc. acquired a new position in shares of Avnet in the second quarter valued at approximately $916,146,000. Deutsche Bank AG bought a new position in shares of Avnet in the 2nd quarter valued at about $2,950,000. Capital Financial Group Inc. Co. ADV acquired a new position in shares of Avnet during the 2nd quarter worth approximately $1,157,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in Avnet during the second quarter worth $25,000. Finally, Global Retirement Partners LLC acquired a new position in shares of Avnet during the 2nd quarter worth about $470,000. 95.78% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Avnet news, CEO Philip R. Gallagher sold 51,900 shares of the firm’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 completion of the sale, the chief executive officer directly owned 168,923 shares in the company, valued at approximately $16,632,158.58. This trade represents a 23.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 1.90% of the company’s stock.

Avnet Price Performance

Avnet stock opened at $98.63 on Tuesday. The stock’s 50 day moving average is $89.24 and its 200 day moving average is $77.60. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.78 and a quick ratio of 0.97. Avnet, Inc. has a one year low of $44.25 and a one year high of $100.00. The firm has a market cap of $8.09 billion, a P/E ratio of 24.72, a P/E/G ratio of 0.32 and a beta of 1.09.

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

Avnet Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Wednesday, June 3rd were issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date was Wednesday, June 3rd. Avnet’s dividend payout ratio is presently 35.09%.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Truist Financial boosted their target price on Avnet from $95.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Raymond James Financial reaffirmed a “strong-buy” rating and set a $95.00 target price on shares of Avnet in a report on Thursday, April 30th. Bank of America raised Avnet from an “underperform” rating to a “neutral” rating and boosted their price target for the company from $66.00 to $96.00 in a research note on Wednesday, May 13th. Weiss Ratings upgraded shares of Avnet from a “hold (c+)” rating to a “buy (b)” rating in a research report on Friday. Finally, Wells Fargo & Company increased their target price on shares of Avnet from $70.00 to $72.00 and gave the stock an “underweight” rating in a report on Monday, July 20th. Two research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average 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.