Avnet, Inc. $AVT Stock Holdings Boosted by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management increased its Avnet position by 170.2% in the second quarter, owning 395,207 shares valued at approximately $35.1 million. Institutional investors collectively hold 95.78% of Avnet’s stock.
• Avnet reported quarterly EPS of $2.28, exceeding the $1.80 consensus estimate, while revenue rose 47.7% year over year to $8.30 billion. The company issued Q1 2027 EPS guidance of $2.80–$2.90.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $93.25; shares recently opened at $96.53. Avnet also maintains a quarterly dividend of $0.35, equivalent to a 1.5% yield.

Assenagon Asset Management S.A. grew its position in shares of Avnet, Inc. (NASDAQ:AVT - Free Report) by 170.2% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 395,207 shares of the company's stock after purchasing an additional 248,940 shares during the quarter. Assenagon Asset Management S.A. owned 0.48% of Avnet worth $35,102,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Summit Securities Group LLC acquired a new stake in shares of Avnet in the fourth quarter valued at $28,000. BOKF NA grew its holdings 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 acquiring an additional 536 shares during the period. Hantz Financial Services Inc. grew its holdings in Avnet by 62.0% during the fourth quarter. Hantz Financial Services Inc. now owns 852 shares of the company's stock worth $41,000 after acquiring an additional 326 shares during the period. Clearstead Advisors LLC raised its position in Avnet by 123.7% in the fourth quarter. Clearstead Advisors LLC now owns 1,385 shares of the company's stock worth $67,000 after acquiring an additional 766 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its position in Avnet by 39.1% in the first quarter. EverSource Wealth Advisors LLC now owns 1,658 shares of the company's stock worth $102,000 after acquiring an additional 466 shares in the last quarter. Institutional investors own 95.78% of the company's stock.

Avnet Stock Down 0.3%

Shares of Avnet stock opened at $96.53 on Friday. Avnet, Inc. has a 12-month low of $44.25 and a 12-month high of $100.00. The firm has a market capitalization of $7.92 billion, a PE ratio of 24.19, a price-to-earnings-growth ratio of 0.31 and a beta of 1.09. The company has a quick ratio of 1.05, a current ratio of 1.78 and a debt-to-equity ratio of 0.49. The stock's fifty day moving average is $88.31 and its 200-day moving average is $75.49.

Avnet (NASDAQ:AVT - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported $2.28 earnings per share for the quarter, beating analysts' consensus estimates of $1.80 by $0.48. The business had revenue of $8.30 billion during the quarter, compared to analyst estimates of $7.56 billion. Avnet had a return on equity of 9.57% and a net margin of 1.21%.Avnet's revenue for the quarter was up 47.7% on a year-over-year basis. During the same quarter last year, the company posted $0.81 EPS. Avnet has set its Q1 2027 guidance at 2.800-2.900 EPS. Equities analysts anticipate that Avnet, Inc. will post 8.5 earnings per share for the current year.

Avnet Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Wednesday, June 3rd were issued a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 1.5%. The ex-dividend date was Wednesday, June 3rd. Avnet's dividend payout ratio (DPR) is presently 54.47%.

Analysts Set New Price Targets

AVT has been the subject of a number of research analyst reports. Truist Financial upped their price target on shares of Avnet from $95.00 to $110.00 and gave the company a "buy" rating in a report on Thursday. Wells Fargo & Company boosted 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. Wall Street Zen upgraded shares of Avnet from a "buy" rating to a "strong-buy" rating in a report on Saturday, July 25th. Weiss Ratings lowered shares of Avnet from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Tuesday, July 28th. Finally, Raymond James Financial restated a "strong-buy" rating and set a $95.00 target price on shares of Avnet in a report on Thursday, April 30th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Avnet currently has a consensus rating of "Hold" 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.

Want to see what other hedge funds are holding AVT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Avnet, Inc. (NASDAQ:AVT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source