BlackRock Inc. Invests $916.15 Million in Avnet, Inc. $AVT

Key Points

• BlackRock acquired a major Avnet stake: The asset manager bought 10.3 million shares valued at approximately $916.15 million, giving it a 12.58% ownership position. Institutional investors collectively own 95.78% of Avnet.
• Avnet reported strong quarterly results: The company earned $2.28 per share versus the $1.80 consensus estimate, while revenue reached $8.30 billion and rose 47.7% year over year. Analysts maintain a “Moderate Buy” consensus rating with a $93.25 average price target.
• The dividend was increased: Avnet raised its quarterly dividend from $0.35 to $0.37 per share, equivalent to a $1.48 annualized payout and an approximately 1.7% yield. However, executives recently sold shares, including the CEO’s sale of 51,900 shares.

BlackRock Inc. bought a new stake in shares of Avnet, Inc. (NASDAQ:AVT - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 10,314,641 shares of the company's stock, valued at approximately $916,146,000. BlackRock Inc. owned 12.58% of Avnet as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of AVT. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of Avnet during the second quarter valued at approximately $25,000. Summit Securities Group LLC acquired a new position in Avnet during the fourth quarter worth $28,000. BOKF NA lifted its stake in shares of Avnet by 1,116.7% in the third quarter. BOKF NA now owns 584 shares of the company's stock valued at $31,000 after buying an additional 536 shares in the last quarter. State of Wyoming bought a new stake in shares of Avnet during the second quarter worth about $37,000. Finally, Hantz Financial Services Inc. increased its position in shares of 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 in the last quarter. 95.78% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

AVT has been the subject of several analyst reports. Zacks Research raised Avnet from a "hold" rating to a "strong-buy" rating in a research note on Friday, August 7th. Raymond James Financial reissued a "strong-buy" rating and issued a $95.00 price target on shares of Avnet in a research report on Thursday, April 30th. Bank of America upgraded Avnet from an "underperform" rating to a "neutral" rating and raised their price objective for the company from $66.00 to $96.00 in a research note on Wednesday, May 13th. Weiss Ratings upgraded shares of Avnet from a "hold (c+)" rating to a "buy (b)" rating in a research note on Friday, August 14th. Finally, Wells Fargo & Company raised their price target 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. Two investment analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $93.25.

Insider Buying and Selling

In related news, SVP Michael Ryan Mccoy sold 32,052 shares of Avnet stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $91.10, for a total value of $2,919,937.20. Following the completion of the transaction, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Philip R. Gallagher sold 51,900 shares of the business's stock in a transaction 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 directly owned 168,923 shares in the company, valued at $16,632,158.58. The trade was a 23.50% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 1.90% of the company's stock.

Avnet Trading Up 2.0%

Shares of AVT stock opened at $88.64 on Friday. The company has a quick ratio of 0.97, a current ratio of 1.78 and a debt-to-equity ratio of 0.49. The firm has a market cap of $7.27 billion, a P/E ratio of 22.22, a PEG ratio of 0.27 and a beta of 1.09. The company has a 50 day moving average of $89.35 and a 200-day moving average of $78.27. Avnet, Inc. has a 12-month low of $44.25 and a 12-month high of $100.00.

Avnet (NASDAQ:AVT - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $2.28 earnings per share for the quarter, beating the consensus estimate 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 was up 47.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.81 earnings per share. Avnet has set its Q1 2027 guidance at 2.800-2.900 EPS. Sell-side analysts anticipate that Avnet, Inc. will post 10.45 earnings per share for the current year.

Avnet Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 23rd. Stockholders of record on Wednesday, September 9th will be given a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 1.7%. This is an increase from Avnet's previous quarterly dividend of $0.35. The ex-dividend date of this dividend is Wednesday, September 9th. Avnet's payout ratio is presently 35.09%.

Avnet News Summary

Here are the key news stories impacting Avnet this week:

• Positive Sentiment: Broad-based earnings estimate increases: Zacks Research raised its EPS forecasts across multiple periods, including Q1 2027 to $2.85 from $1.53, Q2 2027 to $2.16 from $1.74, Q3 2027 to $1.96 from $1.55, and FY2027 to $9.00 from $6.65. The firm also lifted FY2028 estimates to $9.79 from $7.19 and projects FY2029 EPS of $10.15. Zacks maintains a “Strong-Buy” rating. Zacks Research earnings estimates
• Positive Sentiment: Higher forward-quarter expectations: The firm increased its Q1 2028 forecast to $3.14 from $1.85, Q2 2028 to $2.35 from $1.89, Q3 2028 to $2.06 from $1.66, and Q4 2028 to $2.23 from $1.79. These revisions point to stronger anticipated earnings momentum than previously expected. Avnet forward earnings revisions
• Positive Sentiment: Dividend increase: Avnet declared a quarterly dividend of $0.37 per share, up from $0.35, representing a 5.7% increase. The dividend is payable September 23 to shareholders of record September 9, with an indicated annual yield of approximately 1.7%. Avnet increases quarterly dividend
• Neutral Sentiment: Valuation remains a focus: Zacks is examining whether Avnet is undervalued based on value, growth, momentum, and earnings-estimate trends. The discussion could attract value-oriented investors, although the article details provided do not include a specific valuation conclusion. Are Investors Undervaluing Avnet

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.

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