Hsbc Holdings PLC Makes New $11.50 Million Investment in Avnet, Inc. $AVT

Key Points

• HSBC Holdings acquired 130,747 Avnet shares worth approximately $11.5 million, giving it a 0.16% stake. Institutional investors and hedge funds collectively own 95.78% of Avnet.
• Avnet reported quarterly EPS of $2.28, exceeding estimates of $1.80, while revenue rose 47.7% year over year to $8.30 billion. The company issued Q1 2027 EPS guidance of $2.80–$2.90.
• Analysts maintain a consensus “Moderate Buy” rating with a $93.25 price target, while Avnet increased its quarterly dividend to $0.37 per share, representing a 1.7% annualized yield.

Hsbc Holdings PLC purchased a new position in Avnet, Inc. (NASDAQ:AVT - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 130,747 shares of the company's stock, valued at approximately $11,500,000. Hsbc Holdings PLC owned about 0.16% of Avnet as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the business. BlackRock Inc. acquired a new stake in Avnet during the second quarter worth about $916,146,000. Dimensional Fund Advisors LP boosted its stake in Avnet by 0.4% in the first quarter. Dimensional Fund Advisors LP now owns 5,885,636 shares of the company's stock valued at $362,655,000 after acquiring an additional 22,137 shares during the period. Pzena Investment Management LLC acquired a new position in Avnet in the second quarter valued at approximately $277,153,000. AQR Capital Management LLC grew its holdings in shares of Avnet by 30.7% during the fourth quarter. AQR Capital Management LLC now owns 2,961,608 shares of the company's stock valued at $142,394,000 after purchasing an additional 695,929 shares during the last quarter. Finally, LSV Asset Management grew its holdings in shares of Avnet by 7.6% during the fourth quarter. LSV Asset Management now owns 2,811,171 shares of the company's stock valued at $135,161,000 after purchasing an additional 197,400 shares during the last quarter. 95.78% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Avnet

In other news, CEO Philip R. Gallagher sold 51,900 shares of the stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $98.46, for a total value of $5,110,074.00. Following the completion of the transaction, the chief executive officer 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 document filed with the SEC, which can be accessed through this link. Also, SVP Michael Ryan Mccoy sold 32,052 shares of the firm's stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $91.10, for a total value of $2,919,937.20. Following the transaction, the senior vice president directly owned 76,674 shares in the company, valued at $6,985,001.40. This trade represents a 29.48% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 1.90% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Truist Financial raised their price target on Avnet from $95.00 to $110.00 and gave the stock a "buy" rating in a report on Thursday, August 6th. Weiss Ratings upgraded Avnet from a "hold (c+)" rating to a "buy (b)" rating in a research note on Friday, August 14th. Zacks Research raised Avnet from a "hold" rating to a "strong-buy" rating in a research report on Friday, August 7th. Wells Fargo & Company raised their target price on Avnet from $70.00 to $72.00 and gave the company an "underweight" rating in a research note on Monday, July 20th. Finally, Bank of America raised shares of Avnet from an "underperform" rating to a "neutral" rating and boosted their price target for the company from $66.00 to $96.00 in a report on Wednesday, May 13th. Two analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $93.25.

Avnet Price Performance

Shares of NASDAQ:AVT opened at $88.63 on Friday. The firm's 50 day moving average is $89.13 and its two-hundred day moving average is $79.13. The firm has a market capitalization of $7.27 billion, a P/E ratio of 22.21, a PEG ratio of 0.28 and a beta of 1.09. The company has a current ratio of 1.78, a quick ratio of 0.97 and a debt-to-equity ratio of 0.49. Avnet, Inc. has a 52 week low of $44.25 and a 52 week high of $100.00.

Avnet (NASDAQ:AVT - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $2.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.80 by $0.48. Avnet had a return on equity of 9.57% and a net margin of 1.21%.The business had revenue of $8.30 billion during the quarter, compared to the consensus estimate of $7.56 billion. During the same period in the previous year, the firm posted $0.81 earnings per share. The business's revenue was up 47.7% on a year-over-year basis. Avnet has set its Q1 2027 guidance at 2.800-2.900 EPS. Analysts anticipate that Avnet, Inc. will post 10.45 earnings per share for the current year.

Avnet Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 23rd. Shareholders of record on Wednesday, September 9th will be given a dividend of $0.37 per share. This is a boost from Avnet's previous quarterly dividend of $0.35. The ex-dividend date is Wednesday, September 9th. This represents a $1.48 dividend on an annualized basis and a yield of 1.7%. Avnet's payout ratio is presently 35.09%.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source