Sigma Planning Corp Invests $1.48 Million in Avnet, Inc. $AVT

Sigma Planning Corp purchased a new position in Avnet, Inc. (NASDAQ:AVT - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 16,638 shares of the company's stock, valued at approximately $1,478,000.

Other institutional investors also recently bought and sold shares of the company. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of Avnet in the second quarter worth approximately $25,000. State of Wyoming bought a new stake in shares of Avnet during the second quarter valued at approximately $37,000. Summit Securities Group LLC bought a new stake in shares of Avnet during the fourth quarter valued at approximately $28,000. BOKF NA raised its holdings in Avnet by 1,116.7% in the 3rd quarter. BOKF NA now owns 584 shares of the company's stock worth $31,000 after acquiring an additional 536 shares during the last quarter. Finally, Elevation Wealth Partners LLC lifted its position in Avnet by 38.5% in the 2nd quarter. Elevation Wealth Partners LLC now owns 666 shares of the company's stock valued at $59,000 after acquiring an additional 185 shares in the last quarter. 95.78% of the stock is owned by hedge funds and other institutional investors.

Avnet Stock Up 1.0%

Shares of AVT stock opened at $89.56 on Tuesday. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.78 and a quick ratio of 0.97. Avnet, Inc. has a one year low of $44.25 and a one year high of $100.00. The company's fifty day moving average price is $89.07 and its 200-day moving average price is $79.38. The company has a market capitalization of $7.35 billion, a price-to-earnings ratio of 22.45, a PEG ratio of 0.27 and a beta of 1.09.

Avnet (NASDAQ:AVT - Get Free Report) last issued its earnings results on Wednesday, August 5th. The company reported $2.28 earnings per share for the quarter, topping the consensus estimate of $1.80 by $0.48. Avnet had a net margin of 1.21% and a return on equity of 9.57%. The company had revenue of $8.30 billion during the quarter, compared to the consensus estimate of $7.56 billion. During the same quarter in the prior year, the firm posted $0.81 EPS. Avnet's quarterly 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. Sell-side analysts expect that Avnet, Inc. will post 10.45 EPS for the current fiscal year.

Avnet Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 23rd. Shareholders of record on Wednesday, September 9th will be paid a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 1.7%. The ex-dividend date is Wednesday, September 9th. This is a positive change from Avnet's previous quarterly dividend of $0.35. Avnet's dividend payout ratio is currently 35.09%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Wells Fargo & Company lifted their target price on shares of Avnet from $70.00 to $72.00 and gave the stock an "underweight" rating in a research report on Monday, July 20th. Zacks Research raised Avnet from a "hold" rating to a "strong-buy" rating in a report on Friday, August 7th. Bank of America upgraded Avnet from an "underperform" rating to a "neutral" rating and upped their price objective for the company from $66.00 to $96.00 in a research report on Wednesday, May 13th. Wall Street Zen raised Avnet from a "buy" rating to a "strong-buy" rating in a report on Saturday, July 25th. Finally, Weiss Ratings raised Avnet from a "hold (c+)" rating to a "buy (b)" rating in a research report on Friday, August 14th. Two equities research 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 given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $93.25.

Insider Activity at Avnet

In related news, CEO Philip R. Gallagher sold 51,900 shares of the company's stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $98.46, for a total transaction of $5,110,074.00. Following the completion of the transaction, the chief executive officer owned 168,923 shares in the company, valued at approximately $16,632,158.58. This represents a 23.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Michael Ryan Mccoy sold 32,052 shares of the stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $91.10, for a total transaction of $2,919,937.20. Following the transaction, the senior vice president directly owned 76,674 shares of the company's stock, valued at $6,985,001.40. This trade represents a 29.48% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 1.90% of the company's stock.

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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