Avnet, Inc. $AVT Shares Bought by SG Americas Securities LLC

Key Points

• SG Americas Securities LLC significantly increased its Avnet stake in the first quarter, boosting holdings by 235.7% to 367,698 shares worth about $22.7 million.
• Wall Street sentiment is mixed but generally constructive: Avnet carries a “Moderate Buy” consensus with an average price target of $89, while analysts’ targets range from hold to strong buy.
• Avnet reported stronger-than-expected quarterly results, with EPS of $1.48 and revenue of $7.12 billion, and it also paid a quarterly dividend of $0.35 per share.

SG Americas Securities LLC raised its holdings in Avnet, Inc. (NASDAQ:AVT - Free Report) by 235.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 367,698 shares of the company's stock after purchasing an additional 258,178 shares during the period. SG Americas Securities LLC owned 0.45% of Avnet worth $22,658,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Royal Bank of Canada increased its stake in shares of Avnet by 3.0% during the 1st quarter. Royal Bank of Canada now owns 71,697 shares of the company's stock worth $3,447,000 after purchasing an additional 2,101 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in Avnet by 16.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 231,814 shares of the company's stock valued at $11,148,000 after buying an additional 31,919 shares in the last quarter. United Services Automobile Association purchased a new stake in Avnet in the 1st quarter valued at approximately $267,000. Empowered Funds LLC lifted its stake in Avnet by 9.3% in the 1st quarter. Empowered Funds LLC now owns 8,142 shares of the company's stock valued at $392,000 after buying an additional 696 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Avnet by 4.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 353,757 shares of the company's stock valued at $17,012,000 after buying an additional 16,443 shares during the last quarter. 95.78% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AVT has been the subject of a number of analyst reports. Bank of America raised Avnet from an "underperform" rating to a "neutral" rating and boosted their price target for the stock from $66.00 to $96.00 in a report on Wednesday, May 13th. Raymond James Financial reaffirmed a "strong-buy" rating and set a $95.00 price objective on shares of Avnet in a research note on Thursday, April 30th. Wall Street Zen cut Avnet from a "strong-buy" rating to a "buy" rating in a research report on Sunday, May 10th. Truist Financial boosted their target price on shares of Avnet to $95.00 and gave the company a "buy" rating in a research note on Wednesday, April 29th. Finally, Weiss Ratings restated a "hold (c+)" rating on shares of Avnet in a report on Tuesday, June 16th. 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 issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $89.00.

Insider Activity

In related news, CEO Philip R. Gallagher sold 23,920 shares of the firm'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 sale, the chief executive officer directly 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 available at the SEC website. Corporate insiders own 1.90% of the company's stock.

Avnet Stock Performance

Avnet stock opened at $88.13 on Thursday. The firm has a market capitalization of $7.23 billion, a P/E ratio of 34.29, a PEG ratio of 0.40 and a beta of 1.08. The stock has a fifty day moving average price of $84.19 and a 200 day moving average price of $67.07. Avnet, Inc. has a 52 week low of $44.25 and a 52 week high of $95.26. 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 (NASDAQ:AVT - Get Free Report) last issued its quarterly earnings results 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. The firm had revenue of $7.12 billion for the quarter, compared to analyst estimates of $6.45 billion. Avnet had a return on equity of 7.07% and a net margin of 0.86%.The firm's quarterly revenue was up 34.0% on a year-over-year basis. During the same period last year, the company earned $0.84 EPS. Avnet has set its Q4 2026 guidance at 1.700-1.800 EPS. Equities research analysts anticipate that Avnet, Inc. will post 5.12 earnings per share for the current year.

Avnet Announces Dividend

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