Avnet, Inc. (NASDAQ:AVT) Shares Purchased by Lind Value II ApS

Lind Value II ApS lifted its holdings in shares of Avnet, Inc. (NASDAQ:AVT - Free Report) by 15.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,003,897 shares of the company's stock after purchasing an additional 135,135 shares during the quarter. Avnet makes up about 21.4% of Lind Value II ApS's holdings, making the stock its 3rd biggest position. Lind Value II ApS owned approximately 1.16% of Avnet worth $48,277,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the business. Barclays PLC grew its stake in Avnet by 87.6% in the 3rd quarter. Barclays PLC now owns 91,842 shares of the company's stock valued at $4,988,000 after buying an additional 42,880 shares during the last quarter. Blue Trust Inc. grew its stake in Avnet by 52.6% in the 4th quarter. Blue Trust Inc. now owns 5,912 shares of the company's stock valued at $321,000 after buying an additional 2,038 shares during the last quarter. KBC Group NV grew its stake in Avnet by 55.7% in the 4th quarter. KBC Group NV now owns 3,356 shares of the company's stock valued at $176,000 after buying an additional 1,200 shares during the last quarter. Foster & Motley Inc. grew its stake in Avnet by 0.7% in the 4th quarter. Foster & Motley Inc. now owns 130,816 shares of the company's stock valued at $6,844,000 after buying an additional 856 shares during the last quarter. Finally, Highland Capital Management LLC grew its stake in Avnet by 6.6% in the 4th quarter. Highland Capital Management LLC now owns 4,234 shares of the company's stock valued at $222,000 after buying an additional 261 shares during the last quarter. Institutional investors and hedge funds own 95.78% of the company's stock.

Avnet Stock Performance

Avnet stock traded down $0.73 during mid-day trading on Friday, reaching $49.93. The company had a trading volume of 598,087 shares, compared to its average volume of 744,056. The company has a quick ratio of 1.15, a current ratio of 2.39 and a debt-to-equity ratio of 0.53. Avnet, Inc. has a 52 week low of $39.22 and a 52 week high of $59.24. The company has a 50 day moving average of $48.53 and a 200-day moving average of $50.76. The firm has a market cap of $4.19 billion, a price-to-earnings ratio of 14.14, a PEG ratio of 1.13 and a beta of 0.98.

Avnet (NASDAQ:AVT - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The company reported $0.84 EPS for the quarter, topping analysts' consensus estimates of $0.72 by $0.12. The company had revenue of $5.32 billion during the quarter, compared to the consensus estimate of $5.25 billion. Avnet had a net margin of 1.41% and a return on equity of 7.49%. The firm's revenue for the quarter was down 6.0% compared to the same quarter last year. During the same period last year, the firm earned $1.10 EPS. On average, sell-side analysts expect that Avnet, Inc. will post 3.41 EPS for the current fiscal year.

Avnet Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Wednesday, June 4th will be issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.64%. The ex-dividend date of this dividend is Wednesday, June 4th. Avnet's payout ratio is 36.97%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Truist Financial lowered their target price on shares of Avnet from $52.00 to $50.00 and set a "hold" rating on the stock in a research note on Thursday, May 1st. Wells Fargo & Company reduced their price target on shares of Avnet from $45.00 to $43.00 and set an "underweight" rating for the company in a report on Thursday, May 1st.

Insider Transactions at Avnet

In related news, VP Elizabeth Mcmullen sold 4,000 shares of Avnet stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $52.80, for a total transaction of $211,200.00. Following the completion of the transaction, the vice president now directly owns 14,626 shares of the company's stock, valued at $772,252.80. This trade represents a 21.48% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.50% of the stock is owned by insiders.

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.