Public Employees Retirement System of Ohio Takes $2.23 Million Position in Avnet, Inc. $AVT

Key Points

• Public Employees Retirement System of Ohio purchased 25,130 Avnet shares worth approximately $2.23 million in the second quarter. Institutional investors collectively own 95.78% of AVT.
• Avnet reported strong quarterly results, with EPS of $2.28 beating estimates of $1.80 and revenue rising 47.7% year over year to $8.30 billion. The company issued fiscal Q1 2027 EPS guidance of $2.80–$2.90.
• Analysts assign Avnet a consensus “Moderate Buy” rating with a $93.25 price target, while the company raised its quarterly dividend to $0.37 per share, implying a 1.6% annual yield.

Public Employees Retirement System of Ohio purchased a new stake in Avnet, Inc. (NASDAQ:AVT - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 25,130 shares of the company's stock, valued at approximately $2,232,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AVT. BlackRock Inc. purchased a new stake in shares of Avnet in the second quarter valued at $916,146,000. Pzena Investment Management LLC acquired a new position in Avnet during the second quarter valued at $277,153,000. Norges Bank acquired a new position in Avnet during the fourth quarter valued at $62,393,000. Bank of America Corp DE purchased a new stake in Avnet in the 2nd quarter worth about $91,844,000. Finally, Bank of New York Mellon Corp acquired a new stake in Avnet during the 2nd quarter worth about $74,897,000. 95.78% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Avnet

In other Avnet news, SVP Michael Ryan Mccoy sold 32,052 shares of the business's stock in a transaction dated 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 completion of the sale, the senior vice president owned 76,674 shares of the company's stock, valued at $6,985,001.40. The trade was a 29.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Philip R. Gallagher sold 51,900 shares of the company's stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $98.46, for a total value of $5,110,074.00. Following the sale, the chief executive officer owned 168,923 shares of the company's stock, valued at approximately $16,632,158.58. This trade represents a 23.50% decrease in their position. The SEC filing for this sale provides additional information. 1.90% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have weighed in on AVT. Wall Street Zen raised Avnet from a "buy" rating to a "strong-buy" rating in a research note on Saturday, July 25th. Wells Fargo & Company raised their price target on shares of Avnet from $70.00 to $72.00 and gave the stock an "underweight" rating in a report on Monday, July 20th. Weiss Ratings raised shares of Avnet from a "hold (c+)" rating to a "buy (b)" rating in a research report on Friday, August 14th. Zacks Research upgraded shares of Avnet from a "hold" rating to a "strong-buy" rating in a research note on Friday, August 7th. Finally, Bank of America raised shares of Avnet from an "underperform" rating to a "neutral" rating and lifted their target price for the company from $66.00 to $96.00 in a research note on Wednesday, May 13th. Two analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $93.25.

Avnet Trading Up 1.4%

NASDAQ:AVT opened at $92.06 on Friday. The company has a market capitalization of $7.56 billion, a P/E ratio of 23.07, a P/E/G ratio of 0.28 and a beta of 1.10. The stock's 50 day moving average price is $89.22 and its 200 day moving average price is $79.98. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.97 and a current ratio of 1.78. Avnet, Inc. has a 52 week low of $44.25 and a 52 week high of $100.00.

Avnet (NASDAQ:AVT - Get Free Report) last posted its earnings results on Wednesday, August 5th. The company reported $2.28 earnings per share (EPS) for the quarter, beating 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 previous year, the company earned $0.81 earnings per share. The company's revenue was up 47.7% compared to the same quarter last year. Avnet has set its Q1 2027 guidance at 2.800-2.900 EPS. On average, research analysts forecast that Avnet, Inc. will post 10.45 EPS for the current fiscal year.

Avnet Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 23rd. Shareholders of record on Wednesday, September 9th will be issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a 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 dividend payout ratio is 35.09%.

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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