Foster & Motley Inc. Makes New Investment in Avnet, Inc. $AVT

Key Points

• Foster & Motley initiated a sizable Avnet position in the second quarter, purchasing 126,802 shares worth approximately $11.3 million. Institutional investors collectively own 95.78% of the company.
• Avnet reported strong quarterly results, with EPS of $2.28 versus the $1.80 consensus and revenue of $8.30 billion, up 47.7% year over year. The company issued fiscal Q1 2027 EPS guidance of $2.80–$2.90.
• Analyst sentiment is broadly positive, with Avnet carrying a “Moderate Buy” consensus rating and a $93.25 target price, while the stock recently traded at $93.40 after falling 5.3%. CEO Philip Gallagher separately sold 51,900 shares at an average price of $98.46.

Foster & Motley Inc. bought a new position in shares of Avnet, Inc. (NASDAQ:AVT - Free Report) in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund bought 126,802 shares of the company's stock, valued at approximately $11,263,000. Foster & Motley Inc. owned 0.15% of Avnet at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Jefferies Financial Group Inc. bought a new stake in Avnet in the fourth quarter valued at approximately $602,000. Jupiter Asset Management Ltd. bought a new position in shares of Avnet during the fourth quarter worth $4,865,000. GSA Capital Partners LLP grew its holdings in shares of Avnet by 255.2% in the 4th quarter. GSA Capital Partners LLP now owns 41,830 shares of the company's stock valued at $2,011,000 after buying an additional 30,052 shares during the period. Edgestream Partners L.P. acquired a new position in shares of Avnet in the 1st quarter valued at $2,400,000. Finally, LSV Asset Management increased its position in shares of Avnet by 7.6% in the 4th quarter. LSV Asset Management now owns 2,811,171 shares of the company's stock valued at $135,161,000 after buying an additional 197,400 shares in the last quarter. 95.78% of the stock is owned by institutional investors.

Avnet Stock Down 5.3%

AVT stock opened at $93.40 on Wednesday. The company has a market cap of $7.66 billion, a price-to-earnings ratio of 23.41, a P/E/G ratio of 0.32 and a beta of 1.09. Avnet, Inc. has a twelve month low of $44.25 and a twelve month high of $100.00. The business has a 50 day moving average price of $89.37 and a two-hundred day moving average price of $77.84. The company has a quick ratio of 0.97, a current ratio of 1.78 and a debt-to-equity ratio of 0.49.

Avnet (NASDAQ:AVT - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $2.28 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.80 by $0.48. The company 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 business's revenue was up 47.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.81 EPS. Avnet has set its Q1 2027 guidance at 2.800-2.900 EPS. Analysts anticipate that Avnet, Inc. will post 9.66 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Bank of America raised Avnet from an "underperform" rating to a "neutral" rating and increased their target price for the stock 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. Wells Fargo & Company increased their price objective on shares of Avnet from $70.00 to $72.00 and gave the stock an "underweight" rating in a research report on Monday, July 20th. Raymond James Financial restated a "strong-buy" rating and set a $95.00 price objective on shares of Avnet in a report on Thursday, April 30th. 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 investment analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, Avnet has an average rating of "Moderate Buy" and a consensus target price of $93.25.

Insiders Place Their Bets

In other Avnet news, CEO Philip R. Gallagher sold 51,900 shares of the company'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 of the company's stock, valued at approximately $16,632,158.58. This represents a 23.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 1.90% of the company's stock.

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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