Avnet, Inc. $AVT Stock Position Cut by Crossmark Global Holdings Inc.

Key Points

• Crossmark Global Holdings cut its Avnet stake by 95.8% in the fourth quarter, selling more than 247,000 shares and leaving it with 10,696 shares worth about $514,000.
• Avnet has seen mixed but generally positive analyst sentiment, including upgrades from Bank of America and Zacks, and a consensus rating of Moderate Buy with an average price target of $89.
• The company posted strong quarterly results, with EPS of $1.48 and revenue of $7.12 billion, both ahead of estimates, while also maintaining a quarterly dividend of $0.35 per share.

Crossmark Global Holdings Inc. lessened its stake in Avnet, Inc. (NASDAQ:AVT - Free Report) by 95.8% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,696 shares of the company's stock after selling 247,022 shares during the period. Crossmark Global Holdings Inc.'s holdings in Avnet were worth $514,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of AVT. Royal Bank of Canada grew its position in Avnet by 3.0% in the 1st quarter. Royal Bank of Canada now owns 71,697 shares of the company's stock valued at $3,447,000 after buying an additional 2,101 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings 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 acquiring an additional 31,919 shares during the last quarter. United Services Automobile Association acquired a new stake in Avnet in the 1st quarter valued at about $267,000. Empowered Funds LLC lifted its holdings 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 acquiring an additional 696 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Avnet by 4.9% in 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 acquiring an additional 16,443 shares during the last quarter. Institutional investors own 95.78% of the company's stock.

Key Stories Impacting Avnet

Here are the key news stories impacting Avnet this week:

• Positive Sentiment: Bank of America upgraded Avnet, boosting investor confidence and helping the shares rise. Avnet rises after rating upgrade at BofA
• Positive Sentiment: Analysts lifted the price target to $83.13, implying additional upside potential for Avnet (AVT). Avnet price target increased by 23.48% to 83.13
• Positive Sentiment: Zacks raised multiple forward earnings estimates, signaling expectations for stronger profitability in coming fiscal periods.
• Neutral Sentiment: Zacks lowered its Q3 2027 EPS estimate slightly, but kept a Strong-Buy rating and raised longer-term forecasts overall.

Insider Buying and Selling

In related news, CEO Philip R. Gallagher sold 23,920 shares of the stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $82.92, for a total value of $1,983,446.40. Following the transaction, the chief executive officer owned 145,003 shares in the company, valued at approximately $12,023,648.76. This represents a 14.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 1.90% of the company's stock.

Analyst Ratings Changes

A number of brokerages have weighed in on AVT. Weiss Ratings downgraded shares of Avnet from a "buy (b-)" rating to a "hold (c+)" rating in a report on Thursday, March 19th. Zacks Research raised shares of Avnet from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, April 14th. Truist Financial upped their price objective on shares of Avnet to $95.00 and gave the company a "buy" rating in a research note on Wednesday, April 29th. Bank of America raised shares of Avnet from an "underperform" rating to a "neutral" rating and upped their price objective for the company from $66.00 to $96.00 in a research note on Wednesday. Finally, Wells Fargo & Company upped their target price on Avnet from $60.00 to $70.00 and gave the company an "underweight" rating in a report on Thursday, April 30th. Two analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $89.00.

Avnet Price Performance

Shares of AVT opened at $84.06 on Friday. The company has a market capitalization of $6.89 billion, a price-to-earnings ratio of 32.71, a P/E/G ratio of 0.41 and a beta of 1.09. Avnet, Inc. has a fifty-two week low of $44.25 and a fifty-two week high of $87.46. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.01 and a quick ratio of 1.05. The business's 50-day moving average is $69.51 and its 200-day moving average is $58.96.

Avnet (NASDAQ:AVT - Get Free Report) last issued its earnings results on Wednesday, April 29th. The company reported $1.48 earnings per share for the quarter, beating analysts' consensus estimates of $1.33 by $0.15. The company had revenue of $7.12 billion for the quarter, compared to the consensus estimate 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 quarter in the prior year, the company earned $0.84 EPS. Avnet has set its Q4 2026 guidance at 1.700-1.800 EPS. Equities research analysts expect that Avnet, Inc. will post 4.92 EPS for the current fiscal year.

Avnet Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 18th. Investors of record on Wednesday, March 4th were issued a $0.35 dividend. The ex-dividend date was Wednesday, March 4th. This represents a $1.40 dividend on an annualized basis and a yield of 1.7%. Avnet's dividend payout ratio 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.

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.