Jefferies Financial Group Inc. Purchases Shares of 12,512 Avnet, Inc. $AVT

Key Points

• Jefferies Financial Group opened a new position in Avnet during the fourth quarter, buying 12,512 shares valued at about $602,000.
• Avnet also saw notable insider selling, with CEO Philip R. Gallagher selling 23,920 shares for roughly $1.98 million, reducing his direct stake by 14.16%.
• The company reported better-than-expected quarterly results, with EPS of $1.48 and revenue of $7.12 billion, while analysts have recently raised price targets and now rate the stock a consensus Moderate Buy.

Jefferies Financial Group Inc. purchased a new position in Avnet, Inc. (NASDAQ:AVT - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 12,512 shares of the company's stock, valued at approximately $602,000.

A number of other large investors also recently added to or reduced their stakes in the business. World Investment Advisors lifted its holdings in Avnet by 2.3% in the 4th quarter. World Investment Advisors now owns 9,873 shares of the company's stock worth $471,000 after purchasing an additional 219 shares in the last quarter. MAI Capital Management boosted its position in shares of Avnet by 53.7% during the third quarter. MAI Capital Management now owns 673 shares of the company's stock worth $35,000 after acquiring an additional 235 shares during the last quarter. Ballentine Partners LLC boosted its position in shares of Avnet by 3.5% during the third quarter. Ballentine Partners LLC now owns 7,324 shares of the company's stock worth $383,000 after acquiring an additional 249 shares during the last quarter. MassMutual Private Wealth & Trust FSB boosted its position in shares of Avnet by 53.9% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 737 shares of the company's stock worth $35,000 after acquiring an additional 258 shares during the last quarter. Finally, Lazard Asset Management LLC boosted its position in shares of Avnet by 1.0% during the second quarter. Lazard Asset Management LLC now owns 28,877 shares of the company's stock worth $1,532,000 after acquiring an additional 279 shares during the last quarter. 95.78% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

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

Avnet Price Performance

Shares of Avnet stock opened at $86.93 on Friday. The stock has a market cap of $7.13 billion, a price-to-earnings ratio of 33.83, a price-to-earnings-growth ratio of 0.39 and a beta of 1.09. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.05 and a current ratio of 2.01. The stock has a 50 day moving average price of $74.51 and a 200-day moving average price of $61.55. Avnet, Inc. has a one year low of $44.25 and a one year high of $90.20.

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

Avnet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 17th. Investors of record on Wednesday, June 3rd will be given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend is Wednesday, June 3rd. Avnet's dividend payout ratio is 54.47%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on AVT shares. Bank of America upgraded shares of Avnet from an "underperform" rating to a "neutral" rating and upped their target price for the stock from $66.00 to $96.00 in a research report on Wednesday, May 13th. Truist Financial lifted their price objective on Avnet to $95.00 and gave the stock a "buy" rating in a research note on Wednesday, April 29th. Raymond James Financial reaffirmed a "strong-buy" rating and set a $95.00 price target on shares of Avnet in a research note on Thursday, April 30th. Zacks Research raised shares of Avnet from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, April 14th. Finally, Wall Street Zen downgraded shares of Avnet from a "strong-buy" rating to a "buy" rating in a research note on Sunday, May 10th. Two research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Avnet currently has an average rating of "Moderate Buy" and a consensus price target of $89.00.

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.

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