43,934 Shares in Avnet, Inc. $AVT Purchased by Azarias Capital Management L.P.

Key Points

• Azarias Capital Management opened a new position in Avnet, buying 43,934 shares valued at about $2.7 million. The stake represents roughly 1.2% of Azarias’ portfolio and about 0.05% of Avnet.
• Avnet’s CEO Philip R. Gallagher sold 23,920 shares in early May for about $2.0 million, trimming his ownership by 14.16%. Company insiders still hold about 1.90% of the stock.
• Avnet reported strong quarterly results, with EPS of $1.48 beating estimates and revenue of $7.12 billion topping forecasts. The company also paid a quarterly dividend of $0.35 per share, implying a 1.5% annual yield.

Azarias Capital Management L.P. purchased a new stake in Avnet, Inc. (NASDAQ:AVT - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 43,934 shares of the company's stock, valued at approximately $2,707,000. Avnet accounts for about 1.2% of Azarias Capital Management L.P.'s portfolio, making the stock its 22nd biggest position. Azarias Capital Management L.P. owned about 0.05% of Avnet at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Nations Financial Group Inc. IA ADV lifted its holdings in Avnet by 1.6% during 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 during the last quarter. Quadrant Capital Group LLC increased its position in Avnet by 2.1% during the 4th quarter. Quadrant Capital Group LLC now owns 8,778 shares of the company's stock worth $422,000 after buying an additional 184 shares during the period. World Investment Advisors lifted its holdings in shares of Avnet by 2.3% during the fourth quarter. World Investment Advisors now owns 9,873 shares of the company's stock worth $471,000 after buying an additional 219 shares in the last quarter. Deutsche Bank AG lifted its holdings in shares of Avnet by 0.8% during the fourth quarter. Deutsche Bank AG now owns 31,122 shares of the company's stock worth $1,496,000 after buying an additional 234 shares in the last quarter. Finally, MAI Capital Management boosted its position in shares of Avnet by 53.7% in the third quarter. MAI Capital Management now owns 673 shares of the company's stock valued at $35,000 after acquiring an additional 235 shares during the period. 95.78% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Avnet

In other news, CEO Philip R. Gallagher sold 23,920 shares of the firm's stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $82.92, for a total transaction of $1,983,446.40. Following the completion of the transaction, the chief executive officer owned 145,003 shares of the company's stock, valued at approximately $12,023,648.76. This trade represents a 14.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.90% of the company's stock.

Analyst Ratings Changes

AVT has been the topic of several research reports. Weiss Ratings restated a "hold (c+)" rating on shares of Avnet in a research note on Tuesday, June 16th. Bank of America raised shares of Avnet from an "underperform" rating to a "neutral" rating and boosted their price objective for the company from $66.00 to $96.00 in a report on Wednesday, May 13th. Wall Street Zen lowered shares of Avnet from a "strong-buy" rating to a "buy" rating in a research report on Sunday, May 10th. Zacks Research raised Avnet from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, April 14th. Finally, Raymond James Financial restated a "strong-buy" rating and set a $95.00 price objective on shares of Avnet in a research note on Thursday, April 30th. Two investment analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $89.00.

Avnet Price Performance

Shares of NASDAQ AVT opened at $91.47 on Monday. The company has a market cap of $7.50 billion, a price-to-earnings ratio of 35.59, a PEG ratio of 0.41 and a beta of 1.08. The company has a current ratio of 2.01, a quick ratio of 1.05 and a debt-to-equity ratio of 0.50. Avnet, Inc. has a 12 month low of $44.25 and a 12 month high of $95.26. The stock has a 50-day moving average price of $82.94 and a two-hundred day moving average price of $66.20.

Avnet (NASDAQ:AVT - Get Free Report) last released its quarterly earnings data on Wednesday, April 29th. The company reported $1.48 earnings per share (EPS) for the quarter, topping 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 business had revenue of $7.12 billion during the quarter, compared to analysts' expectations of $6.45 billion. During the same period in the prior year, the company earned $0.84 EPS. The firm'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, analysts forecast that Avnet, Inc. will post 5.12 earnings per share for the current fiscal year.

Avnet Announces Dividend

The firm also recently announced 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 yield of 1.5%. The ex-dividend date of this dividend was Wednesday, June 3rd. Avnet's payout ratio is presently 54.47%.

About Avnet

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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