101,181 Shares in Avnet, Inc. $AVT Acquired by Jupiter Asset Management Ltd.

Key Points

• Jupiter Asset Management opened a new position in Avnet, buying 101,181 shares worth about $4.9 million in the fourth quarter.
• Avnet reported better-than-expected quarterly results, with EPS of $1.48 versus $1.33 expected and revenue of $7.12 billion, up 34% year over year.
• The company announced a quarterly dividend of $0.35 per share, while analysts currently rate the stock a consensus Moderate Buy with an average target price of $89.00.

Jupiter Asset Management Ltd. purchased a new position in shares of Avnet, Inc. (NASDAQ:AVT - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 101,181 shares of the company's stock, valued at approximately $4,865,000. Jupiter Asset Management Ltd. owned approximately 0.12% of Avnet at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in AVT. Hantz Financial Services Inc. grew its position in Avnet by 132.7% during the third quarter. Hantz Financial Services Inc. now owns 526 shares of the company's stock worth $27,000 after buying an additional 300 shares in the last quarter. BOKF NA grew its position in Avnet by 1,116.7% during the third quarter. BOKF NA now owns 584 shares of the company's stock worth $31,000 after buying an additional 536 shares in the last quarter. MAI Capital Management grew its position in Avnet by 53.7% during the third quarter. MAI Capital Management now owns 673 shares of the company's stock worth $35,000 after buying an additional 235 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its position in Avnet by 53.9% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 737 shares of the company's stock worth $35,000 after buying an additional 258 shares in the last quarter. Finally, Allworth Financial LP grew its position in Avnet by 199.1% during the third quarter. Allworth Financial LP now owns 700 shares of the company's stock worth $37,000 after buying an additional 466 shares in the last quarter. Institutional investors and hedge funds own 95.78% of the company's stock.

Avnet Trading Down 0.2%

Shares of AVT stock opened at $86.93 on Friday. The stock's fifty day moving average price is $74.51 and its two-hundred day moving average price is $61.55. The company has a market cap of $7.13 billion, a PE ratio of 33.83, a P/E/G ratio of 0.39 and a beta of 1.09. Avnet, Inc. has a fifty-two week low of $44.25 and a fifty-two week high of $90.20. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.05 and a current ratio of 2.01.

Avnet (NASDAQ:AVT - Get Free Report) last released its quarterly earnings data on Wednesday, April 29th. The company reported $1.48 earnings per share for the quarter, beating the consensus estimate of $1.33 by $0.15. Avnet had a return on equity of 7.07% and a net margin of 0.86%.The company had revenue of $7.12 billion for the quarter, compared to the consensus estimate of $6.45 billion. During the same quarter last year, the business posted $0.84 EPS. Avnet's revenue for the quarter was up 34.0% on a year-over-year basis. Avnet has set its Q4 2026 guidance at 1.700-1.800 EPS. Equities analysts predict that Avnet, Inc. will post 5.12 EPS for the current fiscal year.

Avnet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 17th. Investors of record on Wednesday, June 3rd will be issued a dividend of $0.35 per share. The ex-dividend date of this dividend is Wednesday, June 3rd. This represents a $1.40 annualized dividend and a dividend yield of 1.6%. Avnet's dividend payout ratio (DPR) is 54.47%.

Insider Buying and Selling at Avnet

In related news, CEO Philip R. Gallagher sold 23,920 shares of the firm's stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $82.92, for a total transaction of $1,983,446.40. Following the sale, the chief executive officer owned 145,003 shares of the company's stock, valued at $12,023,648.76. This trade represents a 14.16% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.90% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on AVT shares. Wells Fargo & Company increased their price target on Avnet from $60.00 to $70.00 and gave the stock an "underweight" rating in a research report on Thursday, April 30th. Truist Financial increased their price target on Avnet to $95.00 and gave the stock a "buy" rating in a research report on Wednesday, April 29th. Weiss Ratings downgraded Avnet from a "buy (b-)" rating to a "hold (c+)" rating in a report on Thursday, March 19th. Bank of America raised Avnet from an "underperform" rating to a "neutral" rating and raised their target price for the company from $66.00 to $96.00 in a report on Wednesday, May 13th. Finally, Zacks Research raised Avnet from a "hold" rating to a "strong-buy" rating in a report on Tuesday, April 14th. Two analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price 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.

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