Hsbc Holdings PLC Raises Position in Avnet, Inc. $AVT

Key Points

• HSBC Holdings increased its Avnet stake by 132.9% in the second quarter, bringing its holdings to 130,747 shares valued at approximately $11.5 million. Institutional investors collectively own 95.78% of Avnet.
• Avnet reported stronger-than-expected quarterly results, with earnings of $2.28 per share versus the $1.80 estimate and revenue of $8.30 billion, up 47.7% year over year. The company issued fiscal Q1 2027 guidance of $2.80–$2.90 EPS.
• Avnet raised its quarterly dividend to $0.37 per share, equal to an annualized $1.48 payout and a 1.6% yield. Analyst sentiment is “Moderate Buy,” with a consensus price target of $93.25, although two company insiders recently sold shares.

Hsbc Holdings PLC lifted its holdings in shares of Avnet, Inc. (NASDAQ:AVT - Free Report) by 132.9% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 130,747 shares of the company's stock after purchasing an additional 74,620 shares during the quarter. Hsbc Holdings PLC owned about 0.16% of Avnet worth $11,500,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Empowered Funds LLC boosted its stake in Avnet by 1.9% in the 1st quarter. Empowered Funds LLC now owns 6,833 shares of the company's stock worth $421,000 after buying an additional 129 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake 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 valued at $1,264,000 after acquiring an additional 159 shares during the last quarter. Nations Financial Group Inc. IA ADV increased its stake in shares of Avnet by 1.6% during the 1st quarter. Nations Financial Group Inc. IA ADV now owns 10,896 shares of the company's stock valued at $671,000 after acquiring an additional 176 shares during the last quarter. Quadrant Capital Group LLC lifted its holdings in shares of 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 acquiring an additional 184 shares during the period. Finally, Elevation Wealth Partners LLC boosted its position in shares of Avnet by 38.5% in the second quarter. Elevation Wealth Partners LLC now owns 666 shares of the company's stock worth $59,000 after acquiring an additional 185 shares during the last quarter. Hedge funds and other institutional investors own 95.78% of the company's stock.

Insider Transactions at Avnet

In related news, CEO Philip R. Gallagher sold 51,900 shares of the firm's stock in a transaction dated 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 sale, the chief executive officer directly owned 168,923 shares in the company, valued at approximately $16,632,158.58. This trade represents a 23.50% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Michael Ryan Mccoy sold 32,052 shares of the business's stock in a transaction that occurred on Wednesday, August 19th. The stock was 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. 1.90% of the stock is currently owned by company insiders.

Avnet Stock Performance

Shares of AVT stock opened at $92.42 on Wednesday. The company's fifty day simple moving average is $89.38 and its 200-day simple moving average is $80.46. Avnet, Inc. has a 52 week low of $44.25 and a 52 week high of $100.00. The company has a current ratio of 1.78, a quick ratio of 0.97 and a debt-to-equity ratio of 0.49. The company has a market cap of $7.59 billion, a PE ratio of 23.16, a P/E/G ratio of 0.28 and a beta of 1.10.

Avnet (NASDAQ:AVT - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $2.28 earnings per share for the quarter, topping analysts' consensus estimates of $1.80 by $0.48. Avnet had a net margin of 1.21% and a return on equity of 9.57%. The firm had revenue of $8.30 billion during the quarter, compared to analysts' expectations of $7.56 billion. During the same period in the prior year, the company earned $0.81 EPS. The firm'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. As a group, equities research analysts anticipate that Avnet, Inc. will post 10.45 EPS for the current year.

Avnet Increases Dividend

The business 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 $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.6%. This is an increase from Avnet's previous quarterly dividend of $0.35. The ex-dividend date is Wednesday, September 9th. Avnet's payout ratio is 37.09%.

Analyst Upgrades and Downgrades

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

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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