First Eagle Investment Management LLC Reduces Position in Avnet, Inc. $AVT

Key Points

• First Eagle trimmed its stake by 17.8%, selling 24,189 shares in Q3 to hold 111,856 shares (about 0.14% of Avnet); institutional investors now own roughly 95.78% of the company.
• Avnet beat quarterly expectations with $1.05 EPS vs. $0.95 consensus and $6.32B revenue vs. $6.03B (revenue up 11.6% YoY), and it set Q3 2026 guidance at $1.20–$1.30 EPS.
• The company declared a $0.35 quarterly dividend (annualized $1.40, yield 2.2%, ex-dividend March 4), while analysts' consensus is a "Reduce" rating with an average price target of $54.33.

First Eagle Investment Management LLC trimmed its position in Avnet, Inc. (NASDAQ:AVT - Free Report) by 17.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 111,856 shares of the company's stock after selling 24,189 shares during the quarter. First Eagle Investment Management LLC owned approximately 0.14% of Avnet worth $5,848,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of AVT. GAMMA Investing LLC increased its holdings in Avnet by 6.9% in the third quarter. GAMMA Investing LLC now owns 2,984 shares of the company's stock valued at $156,000 after buying an additional 192 shares during the last quarter. MAI Capital Management increased its holdings in shares of Avnet by 53.7% in the 3rd quarter. MAI Capital Management now owns 673 shares of the company's stock valued at $35,000 after acquiring an additional 235 shares during the last quarter. Ballentine Partners LLC increased its holdings in shares of Avnet by 3.5% in the 3rd quarter. Ballentine Partners LLC now owns 7,324 shares of the company's stock valued at $383,000 after acquiring an additional 249 shares during the last quarter. Ethic Inc. raised its position in shares of Avnet by 1.3% during the 3rd quarter. Ethic Inc. now owns 21,395 shares of the company's stock worth $1,119,000 after acquiring an additional 271 shares in the last quarter. Finally, Lazard Asset Management LLC lifted its stake in Avnet by 1.0% during the second quarter. Lazard Asset Management LLC now owns 28,877 shares of the company's stock worth $1,532,000 after purchasing an additional 279 shares during the last quarter. Institutional investors and hedge funds own 95.78% of the company's stock.

Avnet Stock Performance

Shares of AVT opened at $63.32 on Thursday. The company has a current ratio of 2.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.50. The firm has a market cap of $5.18 billion, a PE ratio of 25.95, a price-to-earnings-growth ratio of 0.47 and a beta of 0.91. The company's 50 day simple moving average is $57.78 and its 200-day simple moving average is $53.12. Avnet, Inc. has a 12-month low of $39.22 and a 12-month high of $68.29.

Avnet (NASDAQ:AVT - Get Free Report) last released its quarterly earnings results on Wednesday, January 28th. The company reported $1.05 EPS for the quarter, beating the consensus estimate of $0.95 by $0.10. Avnet had a net margin of 0.90% and a return on equity of 6.08%. The firm had revenue of $6.32 billion during the quarter, compared to the consensus estimate of $6.03 billion. During the same quarter in the prior year, the firm earned $0.87 EPS. Avnet's revenue for the quarter was up 11.6% on a year-over-year basis. Avnet has set its Q3 2026 guidance at 1.200-1.300 EPS. As a group, equities analysts predict that Avnet, Inc. will post 3.41 EPS for the current year.

Avnet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 18th. Investors of record on Wednesday, March 4th will be issued a dividend of $0.35 per share. The ex-dividend date of this dividend is Wednesday, March 4th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.2%. Avnet's dividend payout ratio (DPR) is currently 57.38%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on AVT shares. Truist Financial increased their price target on shares of Avnet from $55.00 to $65.00 and gave the company a "hold" rating in a research note on Thursday, January 29th. Wells Fargo & Company upped their target price on shares of Avnet from $43.00 to $48.00 and gave the company an "underweight" rating in a report on Thursday, January 29th. Wall Street Zen raised shares of Avnet from a "hold" rating to a "buy" rating in a research report on Saturday, January 31st. Finally, Weiss Ratings downgraded shares of Avnet from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Tuesday, February 17th. Three analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Reduce" and an average price target of $54.33.

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.