Cinctive Capital Management LP Takes Position in Avnet, Inc. $AVT

Key Points

• Cinctive Capital Management disclosed a new position in Avnet, buying 142,265 shares valued at about $6.84 million in the fourth quarter and holding roughly 0.17% of the company.
• Avnet reported better-than-expected quarterly results, with EPS of $1.48 versus $1.33 expected and revenue of $7.12 billion, up 34% year over year. The company also raised its Q4 2026 guidance to $1.70–$1.80 EPS.
• Analyst sentiment is mixed but generally constructive: Avnet has a Moderate Buy consensus rating with an average target price of $89, while Bank of America recently upgraded the stock and Truist set a $95 target.

Cinctive Capital Management LP acquired a new position in shares of Avnet, Inc. (NASDAQ:AVT - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 142,265 shares of the company's stock, valued at approximately $6,840,000. Cinctive Capital Management LP owned approximately 0.17% of Avnet at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of AVT. BOKF NA raised its holdings in shares of 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 in the last quarter. MAI Capital Management raised its holdings in shares of Avnet by 53.7% during the third quarter. MAI Capital Management now owns 673 shares of the company's stock worth $35,000 after acquiring an additional 235 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its holdings in shares of Avnet by 53.9% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 737 shares of the company's stock worth $35,000 after acquiring an additional 258 shares in the last quarter. Allworth Financial LP raised its holdings in shares of Avnet by 199.1% during the third quarter. Allworth Financial LP now owns 700 shares of the company's stock worth $37,000 after acquiring an additional 466 shares in the last quarter. Finally, Hantz Financial Services Inc. raised its holdings 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 currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on AVT. Bank of America upgraded Avnet from an "underperform" rating to a "neutral" rating and increased their price objective for the stock from $66.00 to $96.00 in a report on Wednesday, May 13th. Wells Fargo & Company increased their price objective on Avnet from $60.00 to $70.00 and gave the stock an "underweight" rating in a report on Thursday, April 30th. Weiss Ratings lowered Avnet from a "buy (b-)" rating to a "hold (c+)" rating in a report on Thursday, March 19th. Truist Financial raised their target price on Avnet to $95.00 and gave the company a "buy" rating in a report on Wednesday, April 29th. Finally, Wall Street Zen lowered Avnet from a "strong-buy" rating to a "buy" rating in a report on Sunday, May 10th. Two analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $89.00.

Avnet Price Performance

NASDAQ AVT opened at $89.81 on Thursday. The firm has a market cap of $7.37 billion, a P/E ratio of 34.95, a price-to-earnings-growth ratio of 0.41 and a beta of 1.08. The stock's 50-day moving average is $81.85 and its two-hundred day moving average is $65.58. Avnet, Inc. has a fifty-two week low of $44.25 and a fifty-two week high of $95.26. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.01 and a quick ratio of 1.05.

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, beating the consensus estimate 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 revenue was up 34.0% compared to the same quarter last year. During the same period last year, the business posted $0.84 earnings per share. Avnet has set its Q4 2026 guidance at 1.700-1.800 EPS. On average, analysts anticipate that Avnet, Inc. will post 5.12 earnings per share for the current fiscal year.

Avnet Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Investors of record on Wednesday, June 3rd were given a dividend of $0.35 per share. The ex-dividend date of this dividend was Wednesday, June 3rd. This represents a $1.40 dividend on an annualized basis and a yield of 1.6%. Avnet's dividend payout ratio (DPR) is 54.47%.

Insiders Place Their Bets

In related news, CEO Philip R. Gallagher sold 23,920 shares of Avnet stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $82.92, for a total transaction of $1,983,446.40. Following the sale, the chief executive officer directly owned 145,003 shares of the company's stock, valued at $12,023,648.76. This trade represents a 14.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.90% of the stock is currently owned by company insiders.

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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