Inceptionr LLC Invests $762,000 in Avnet, Inc. $AVT

Key Points

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Inceptionr LLC bought a new position in Avnet, Inc. (NASDAQ:AVT - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 12,374 shares of the company's stock, valued at approximately $762,000.

Several other large investors also recently modified their holdings of the business. Norges Bank bought a new position in Avnet during the 4th quarter valued at approximately $62,393,000. AQR Capital Management LLC grew its position in shares of Avnet by 30.7% in the 4th quarter. AQR Capital Management LLC now owns 2,961,608 shares of the company's stock worth $142,394,000 after buying an additional 695,929 shares during the last quarter. Jain Global LLC bought a new stake in shares of Avnet in the 4th quarter worth approximately $18,873,000. Loews Corp increased its stake in shares of Avnet by 258.3% during the fourth quarter. Loews Corp now owns 430,000 shares of the company's stock valued at $20,674,000 after buying an additional 310,000 shares during the period. Finally, Millennium Management LLC increased its stake in shares of Avnet by 75.3% during the fourth quarter. Millennium Management LLC now owns 654,695 shares of the company's stock valued at $31,478,000 after buying an additional 281,273 shares during the period. 95.78% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CEO Philip R. Gallagher sold 23,920 shares of the business's stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $82.92, for a total transaction of $1,983,446.40. Following the sale, the chief executive officer owned 145,003 shares of the company's stock, valued at $12,023,648.76. The trade was a 14.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.90% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Raymond James Financial restated a "strong-buy" rating and set a $95.00 target price on shares of Avnet in a report on Thursday, April 30th. Bank of America raised shares of Avnet from an "underperform" rating to a "neutral" rating and boosted their price objective for the company from $66.00 to $96.00 in a research report on Wednesday, May 13th. Wells Fargo & Company boosted their price objective on shares of Avnet from $70.00 to $72.00 and gave the company an "underweight" rating in a research report on Monday. Truist Financial upped their price objective on shares of Avnet to $95.00 and gave the stock a "buy" rating in a report on Wednesday, April 29th. Finally, Weiss Ratings raised shares of Avnet from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday, July 13th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $89.50.

Avnet Price Performance

Shares of AVT stock opened at $89.42 on Friday. The business's fifty day moving average is $87.31 and its 200 day moving average is $72.65. The company has a quick ratio of 1.05, a current ratio of 2.01 and a debt-to-equity ratio of 0.50. The stock has a market cap of $7.33 billion, a price-to-earnings ratio of 34.79, a PEG ratio of 0.28 and a beta of 1.09. Avnet, Inc. has a twelve month low of $44.25 and a twelve month high of $95.26.

Avnet (NASDAQ:AVT - Get Free Report) last announced its quarterly earnings data on Wednesday, April 29th. The company reported $1.48 EPS for the quarter, beating the consensus estimate of $1.33 by $0.15. The business had revenue of $7.12 billion during the quarter, compared to analyst estimates of $6.45 billion. Avnet had a return on equity of 7.07% and a net margin of 0.86%.The company's revenue for the quarter was up 34.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.84 earnings per share. Avnet has set its Q4 2026 guidance at 1.700-1.800 EPS. Research analysts expect that Avnet, Inc. will post 5.12 EPS for the current fiscal year.

Avnet Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 17th. Investors of record on Wednesday, June 3rd were given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend was Wednesday, June 3rd. Avnet's dividend payout ratio (DPR) is 54.47%.

Avnet 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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