Millennium Management LLC Has $2.06 Million Holdings in Avnet, Inc. (NASDAQ:AVT)

Millennium Management LLC lowered its position in shares of Avnet, Inc. (NASDAQ:AVT - Free Report) by 87.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 39,442 shares of the company's stock after selling 274,896 shares during the quarter. Millennium Management LLC's holdings in Avnet were worth $2,064,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the company. Principal Securities Inc. boosted its position in Avnet by 18.2% during the fourth quarter. Principal Securities Inc. now owns 1,373 shares of the company's stock worth $72,000 after acquiring an additional 211 shares during the last quarter. World Investment Advisors boosted its holdings in shares of Avnet by 3.7% in the 4th quarter. World Investment Advisors now owns 7,223 shares of the company's stock valued at $378,000 after purchasing an additional 255 shares during the last quarter. Quadrant Capital Group LLC boosted its holdings in shares of Avnet by 30.5% in the 4th quarter. Quadrant Capital Group LLC now owns 1,456 shares of the company's stock valued at $76,000 after purchasing an additional 340 shares during the last quarter. Transcend Capital Advisors LLC boosted its holdings in shares of Avnet by 2.3% in the 4th quarter. Transcend Capital Advisors LLC now owns 16,652 shares of the company's stock valued at $871,000 after purchasing an additional 381 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Avnet by 2.3% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,011 shares of the company's stock valued at $995,000 after purchasing an additional 419 shares during the last quarter. Institutional investors and hedge funds own 95.78% of the company's stock.

Avnet Trading Down 0.2%

Shares of AVT stock traded down $0.08 during mid-day trading on Thursday, reaching $50.54. The company's stock had a trading volume of 399,103 shares, compared to its average volume of 742,605. The company's 50 day simple moving average is $48.74 and its 200-day simple moving average is $50.71. Avnet, Inc. has a 12-month low of $39.22 and a 12-month high of $59.24. The company has a quick ratio of 1.15, a current ratio of 2.39 and a debt-to-equity ratio of 0.53. The firm has a market capitalization of $4.24 billion, a PE ratio of 14.32, a price-to-earnings-growth ratio of 1.13 and a beta of 1.02.

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

Avnet Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Wednesday, June 4th will be given a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 2.61%. The ex-dividend date is Wednesday, June 4th. Avnet's payout ratio is currently 36.97%.

Insider Transactions at Avnet

In other Avnet news, VP Elizabeth Mcmullen sold 4,000 shares of the business's 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. The trade was a 21.48% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 1.50% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on AVT shares. Truist Financial decreased their price target on shares of Avnet from $52.00 to $50.00 and set a "hold" rating on the stock in a report on Thursday, May 1st. Wells Fargo & Company decreased their price target on shares of Avnet from $45.00 to $43.00 and set an "underweight" rating on the stock in a report on Thursday, May 1st.

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.