Deutsche Bank AG acquired a new position in shares of Avnet, Inc. (NASDAQ:AVT - Free Report) in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 33,215 shares of the company's stock, valued at approximately $2,950,000.
Several other large investors have also made changes to their positions in AVT. Empowered Funds LLC increased its stake in Avnet by 1.9% during the first quarter. Empowered Funds LLC now owns 6,833 shares of the company's stock worth $421,000 after acquiring an additional 129 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in shares of Avnet by 0.8% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 20,511 shares of the company's stock worth $1,264,000 after purchasing an additional 159 shares during the period. Nations Financial Group Inc. IA ADV increased its position in Avnet by 1.6% during the 1st quarter. Nations Financial Group Inc. IA ADV now owns 10,896 shares of the company's stock worth $671,000 after purchasing an additional 176 shares in the last quarter. Quadrant Capital Group LLC increased its position in Avnet by 2.1% during the 4th quarter. Quadrant Capital Group LLC now owns 8,778 shares of the company's stock worth $422,000 after purchasing an additional 184 shares in the last quarter. Finally, Elevation Wealth Partners LLC raised its holdings in Avnet by 38.5% in the second quarter. Elevation Wealth Partners LLC now owns 666 shares of the company's stock valued at $59,000 after buying an additional 185 shares during the period. 95.78% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of research analysts have weighed in on AVT shares. Raymond James Financial reaffirmed a "strong-buy" rating and set a $95.00 price target on shares of Avnet in a research report on Thursday, April 30th. Truist Financial increased their price objective on shares of Avnet from $95.00 to $110.00 and gave the stock a "buy" rating in a research report on Thursday, August 6th. Bank of America raised shares of Avnet from an "underperform" rating to a "neutral" rating and raised their target price 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 report on Friday, August 14th. Finally, Zacks Research raised shares of Avnet from a "hold" rating to a "strong-buy" rating in a research report on Friday, August 7th. Two research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $93.25.
View Our Latest Research Report on Avnet
Avnet Stock Performance
Avnet stock opened at $90.29 on Thursday. Avnet, Inc. has a 12-month low of $44.25 and a 12-month high of $100.00. The company has a market capitalization of $7.41 billion, a price-to-earnings ratio of 22.63, a price-to-earnings-growth ratio of 0.27 and a beta of 1.09. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.78 and a quick ratio of 0.97. The firm's fifty day moving average price is $89.19 and its 200 day moving average price is $78.88.
Avnet (NASDAQ:AVT - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported $2.28 EPS for the quarter, topping the consensus estimate of $1.80 by $0.48. The business had revenue of $8.30 billion for the quarter, compared to analysts' expectations of $7.56 billion. Avnet had a return on equity of 9.57% and a net margin of 1.21%.The company's revenue was up 47.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.81 earnings per share. Avnet has set its Q1 2027 guidance at 2.800-2.900 EPS. On average, research analysts forecast that Avnet, Inc. will post 10.45 EPS for the current fiscal year.
Avnet Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 23rd. Stockholders of record on Wednesday, September 9th will be paid a dividend of $0.37 per share. This is an increase from Avnet's previous quarterly dividend of $0.35. The ex-dividend date is Wednesday, September 9th. This represents a $1.48 annualized dividend and a dividend yield of 1.6%. Avnet's dividend payout ratio (DPR) is currently 35.09%.
Insider Activity at Avnet
In other news, SVP Michael Ryan Mccoy sold 32,052 shares of the firm's stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $91.10, for a total transaction of $2,919,937.20. Following the completion of the sale, the senior vice president owned 76,674 shares of the company's stock, valued at approximately $6,985,001.40. This trade represents a 29.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Philip R. Gallagher sold 51,900 shares of Avnet stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $98.46, for a total transaction of $5,110,074.00. Following the completion of the sale, the chief executive officer owned 168,923 shares of the company's stock, valued at approximately $16,632,158.58. This trade represents a 23.50% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 1.90% of the company's stock.
Avnet Profile
(
Free Report)
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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