Fuller & Thaler Asset Management Inc. Reduces Holdings in Avnet, Inc. $AVT

Key Points

• Fuller & Thaler Asset Management Inc. reduced its holdings in Avnet, Inc. by 3.1%, now owning approximately 399,469 shares valued at $19,210,000, according to their latest SEC filing.
• Other hedge funds, including Barclays and Natixis, made adjustments to their stakes in Avnet, with 95.78% of the stock owned by institutional investors.
• Analysts have set new price targets for Avnet, with Bank of America raising its target to $50.00 while Wells Fargo lowered theirs to $43.00, indicating a general sentiment of caution surrounding the stock.

Fuller & Thaler Asset Management Inc. reduced its holdings in shares of Avnet, Inc. (NASDAQ:AVT - Free Report) by 3.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 399,469 shares of the company's stock after selling 12,810 shares during the quarter. Fuller & Thaler Asset Management Inc. owned approximately 0.48% of Avnet worth $19,210,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in AVT. Barclays PLC increased its holdings in Avnet by 2.4% during the 4th quarter. Barclays PLC now owns 94,036 shares of the company's stock valued at $4,920,000 after acquiring an additional 2,194 shares in the last quarter. GeoWealth Management LLC purchased a new position in Avnet during the 4th quarter valued at about $31,000. Natixis increased its holdings in Avnet by 1,463.8% during the 4th quarter. Natixis now owns 735 shares of the company's stock valued at $38,000 after acquiring an additional 688 shares in the last quarter. MetLife Investment Management LLC increased its holdings in Avnet by 7.5% during the 4th quarter. MetLife Investment Management LLC now owns 49,007 shares of the company's stock valued at $2,564,000 after acquiring an additional 3,438 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its stake in shares of Avnet by 667.6% during the 4th quarter. Tower Research Capital LLC TRC now owns 9,818 shares of the company's stock worth $514,000 after purchasing an additional 8,539 shares during the last quarter. 95.78% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have issued reports on AVT shares. Bank of America raised their price target on shares of Avnet from $48.00 to $50.00 and gave the stock an "underperform" rating in a research note on Monday, August 11th. Wells Fargo & Company decreased their price target on shares of Avnet from $45.00 to $43.00 and set an "underweight" rating on the stock in a research note on Thursday, May 1st. Finally, Truist Financial raised their price target on shares of Avnet from $50.00 to $54.00 and gave the stock a "hold" rating in a research note on Thursday, August 7th. One analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Sell" and an average price target of $49.00.

Avnet Trading Up 0.1%

Shares of AVT stock opened at $53.51 on Wednesday. The firm has a market cap of $4.47 billion, a P/E ratio of 19.60, a PEG ratio of 0.38 and a beta of 1.06. Avnet, Inc. has a 1-year low of $39.22 and a 1-year high of $59.24. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.43 and a quick ratio of 1.16. The firm's 50-day simple moving average is $53.49 and its 200-day simple moving average is $50.70.

Avnet (NASDAQ:AVT - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.09. The business had revenue of $5.62 billion for the quarter, compared to analyst estimates of $5.36 billion. Avnet had a net margin of 1.08% and a return on equity of 6.07%. The company's revenue was up 1.0% on a year-over-year basis. During the same period in the prior year, the firm posted $1.22 EPS. As a group, equities analysts forecast that Avnet, Inc. will post 3.41 EPS for the current year.

Avnet Company Profile

Avnet, Inc, distributes electronic component technology. The company operates through two segments, Electronic Components and Farnell. The Electronic Components segment markets, sells, and distributes semiconductors; interconnect, passive, and electromechanical components; and other integrated components from electronic component manufacturers.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.