14,287 Avnet, Inc. $AVT Shares Sold by Inspire Investing LLC

Key Points

• Inspire Investing reduced its Avnet stake by 58.5% in the third quarter, selling 14,287 shares and retaining 10,138 shares worth approximately $1.01 million. Institutional investors collectively own 95.78% of Avnet.
• Avnet reported strong quarterly results, with EPS of $2.28 versus the $1.80 consensus and revenue of $8.30 billion, up 47.7% year over year. The company also raised its quarterly dividend to $0.37, equivalent to a 1.7% annual yield.
• Analyst sentiment remains broadly positive, with Avnet holding a “Moderate Buy” consensus rating and an average price target of $93.25, although executives recently sold substantial portions of their holdings.

Inspire Investing LLC cut its holdings in shares of Avnet, Inc. (NASDAQ:AVT - Free Report) by 58.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,138 shares of the company's stock after selling 14,287 shares during the period. Inspire Investing LLC's holdings in Avnet were worth $1,013,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. MBL Wealth LLC bought a new stake in Avnet in the 3rd quarter worth about $344,000. Root Financial Partners LLC bought a new position in Avnet during the 3rd quarter valued at about $111,000. Reyes Financial Architecture Inc. bought a new position in Avnet during the 3rd quarter valued at about $69,000. Vest Financial LLC boosted its holdings in shares of Avnet by 22.9% during the 3rd quarter. Vest Financial LLC now owns 12,162 shares of the company's stock valued at $1,216,000 after acquiring an additional 2,269 shares during the last quarter. Finally, Axxcess Wealth Management LLC purchased a new stake in shares of Avnet during the 3rd quarter valued at about $258,000. 95.78% of the stock is currently owned by institutional investors.

Avnet Stock Up 1.8%

Avnet stock opened at $89.65 on Tuesday. Avnet, Inc. has a one year low of $44.25 and a one year high of $108.63. The stock has a fifty day moving average of $94.79 and a 200 day moving average of $79.90. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.97 and a current ratio of 1.78. The stock has a market cap of $7.37 billion, a PE ratio of 22.47, a price-to-earnings-growth ratio of 0.27 and a beta of 1.06.

Avnet (NASDAQ:AVT - Get Free Report) last announced its earnings results on Wednesday, August 5th. The company reported $2.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.80 by $0.48. The business 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 period last year, the firm posted $0.81 earnings per share. Avnet has set its Q1 2027 guidance at 2.800-2.900 EPS. As a group, sell-side analysts predict that Avnet, Inc. will post 10.45 EPS for the current year.

Avnet Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 23rd. Stockholders of record on Wednesday, September 9th were paid a $0.37 dividend. This is a boost from Avnet's previous quarterly dividend of $0.35. The ex-dividend date was Wednesday, September 9th. This represents a $1.48 annualized dividend and a dividend yield of 1.7%. Avnet's dividend payout ratio (DPR) is currently 37.09%.

Insider Activity at Avnet

In related news, SVP Michael Ryan Mccoy sold 32,052 shares of the business's stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $91.10, for a total transaction of $2,919,937.20. Following the completion of the sale, the senior vice president directly owned 76,674 shares in the company, valued at approximately $6,985,001.40. The trade was a 29.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Philip Gallagher sold 51,900 shares of the business's stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $98.46, for a total transaction of $5,110,074.00. Following the sale, the chief executive officer owned 168,923 shares of the company's stock, valued at $16,632,158.58. This trade represents a 23.50% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 2.00% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have recently commented on AVT shares. Zacks Research lowered shares of Avnet from a "strong-buy" rating to a "hold" rating in a research note on Monday, October 19th. Truist Financial increased their price objective on shares of Avnet from $95.00 to $110.00 and gave the company a "buy" rating in a research report on Thursday, August 6th. Wells Fargo & Company increased their price objective on shares of Avnet from $70.00 to $72.00 and gave the company an "underweight" rating in a research report on Monday, July 20th. Wall Street Zen upgraded shares of Avnet from a "buy" rating to a "strong-buy" rating in a report on Saturday, October 17th. Finally, Weiss Ratings raised shares of Avnet from a "buy (b-)" rating to a "buy (b)" rating in a research report on Friday, October 9th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $93.25.

Avnet Company Profile

Avnet, Inc is a global technology distributor that helps manufacturers and design engineers source electronic components and develop products. The company supplies semiconductors, embedded processors, memory, connectivity products, sensors, power-management components and other electronic parts used in industrial, automotive, communications, computing, aerospace and defense applications.

In addition to component distribution, Avnet provides engineering and design services, supply-chain management, product customization, logistics, and technical support.

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