Susquehanna Fundamental Investments LLC Purchases New Shares in Avnet, Inc. (NASDAQ:AVT)

Susquehanna Fundamental Investments LLC acquired a new stake in Avnet, Inc. (NASDAQ:AVT - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 103,893 shares of the company's stock, valued at approximately $5,436,000. Susquehanna Fundamental Investments LLC owned approximately 0.12% of Avnet as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in AVT. Barclays PLC lifted its position 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 acquiring an additional 42,880 shares in the last quarter. World Investment Advisors LLC acquired a new position in shares of Avnet during the third quarter worth about $378,000. Tidal Investments LLC grew its holdings in shares of Avnet by 9.0% during the third quarter. Tidal Investments LLC now owns 13,547 shares of the company's stock worth $736,000 after buying an additional 1,118 shares in the last quarter. Synovus Financial Corp raised its position in Avnet by 9.8% in the 3rd quarter. Synovus Financial Corp now owns 9,460 shares of the company's stock valued at $514,000 after buying an additional 843 shares during the last quarter. Finally, Franklin Resources Inc. lifted its stake in Avnet by 17.1% in the 3rd quarter. Franklin Resources Inc. now owns 52,290 shares of the company's stock valued at $2,895,000 after acquiring an additional 7,619 shares in the last quarter. Institutional investors and hedge funds own 95.78% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Wells Fargo & Company lowered their price objective on shares of Avnet from $45.00 to $43.00 and set an "underweight" rating on the stock in a report on Thursday. Truist Financial reduced their price objective on shares of Avnet from $52.00 to $50.00 and set a "hold" rating for the company in a research note on Thursday. Finally, Bank of America lowered Avnet from a "neutral" rating to an "underperform" rating and dropped their target price for the stock from $58.00 to $48.00 in a report on Thursday, January 30th.

Avnet Stock Performance

NASDAQ:AVT traded up $0.90 during mid-day trading on Friday, hitting $49.72. The stock had a trading volume of 762,579 shares, compared to its average volume of 746,875. Avnet, Inc. has a twelve month low of $39.22 and a twelve month high of $59.24. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.15 and a current ratio of 2.39. The stock has a market cap of $4.30 billion, a price-to-earnings ratio of 14.08, a PEG ratio of 1.13 and a beta of 1.04. The company's 50 day simple moving average is $47.84 and its 200 day simple moving average is $51.41.

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

Avnet Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th were given a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 2.65%. The ex-dividend date was Wednesday, March 5th. Avnet's payout ratio is presently 37.39%.

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.