Avnet, Inc. (NYSE:AVT) CEO Amelio J. William acquired 3,000 shares of Avnet stock in a transaction that occurred on Friday, December 8th. The stock was acquired at an average cost of $39.16 per share, with a total value of $117,480.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Avnet, Inc. (NYSE:AVT) traded down $0.05 on Thursday, hitting $39.58. The stock had a trading volume of 736,900 shares, compared to its average volume of 1,099,950. Avnet, Inc. has a 52 week low of $35.67 and a 52 week high of $49.19. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.78 and a quick ratio of 1.63. The stock has a market cap of $4,792.35, a P/E ratio of 12.19, a PEG ratio of 1.30 and a beta of 1.09.

Avnet (NYSE:AVT) last posted its quarterly earnings results on Thursday, October 26th. The technology company reported $0.76 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.05. Avnet had a return on equity of 8.20% and a net margin of 2.86%. The company had revenue of $4.66 billion during the quarter, compared to the consensus estimate of $4.34 billion. During the same period last year, the business earned $0.91 EPS. The business’s quarterly revenue was up 13.2% on a year-over-year basis. equities analysts forecast that Avnet, Inc. will post 3.36 earnings per share for the current year.

Avnet announced that its board has authorized a share buyback program on Friday, November 10th that permits the company to buyback $200.00 million in shares. This buyback authorization permits the technology company to repurchase shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 19th. Stockholders of record on Wednesday, December 6th will be paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.82%. The ex-dividend date of this dividend is Tuesday, December 5th. Avnet’s dividend payout ratio (DPR) is presently 17.96%.

Several equities research analysts recently issued reports on AVT shares. TheStreet downgraded Avnet from a “b” rating to a “c” rating in a research note on Thursday, October 26th. Zacks Investment Research raised Avnet from a “hold” rating to a “buy” rating and set a $45.00 price objective for the company in a research note on Tuesday, October 10th. Stifel Nicolaus increased their price objective on Avnet from $40.00 to $42.00 and gave the stock a “hold” rating in a research note on Thursday, October 26th. ValuEngine raised Avnet from a “hold” rating to a “buy” rating in a research note on Tuesday, September 26th. Finally, BidaskClub raised Avnet from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 26th. Four research analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $40.29.

Several institutional investors and hedge funds have recently bought and sold shares of AVT. Daiwa Securities Group Inc. raised its stake in shares of Avnet by 21.9% during the 2nd quarter. Daiwa Securities Group Inc. now owns 3,900 shares of the technology company’s stock worth $152,000 after purchasing an additional 700 shares in the last quarter. Korea Investment CORP raised its stake in shares of Avnet by 11.2% during the 2nd quarter. Korea Investment CORP now owns 70,300 shares of the technology company’s stock worth $2,733,000 after purchasing an additional 7,100 shares in the last quarter. Pictet Asset Management Ltd. raised its stake in shares of Avnet by 1.4% during the 2nd quarter. Pictet Asset Management Ltd. now owns 45,000 shares of the technology company’s stock worth $1,651,000 after purchasing an additional 600 shares in the last quarter. Schwab Charles Investment Management Inc. raised its stake in shares of Avnet by 7.1% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 558,904 shares of the technology company’s stock worth $21,731,000 after purchasing an additional 37,062 shares in the last quarter. Finally, Wedge Capital Management L L P NC acquired a new position in shares of Avnet during the 2nd quarter valued at about $908,000. 96.03% of the stock is owned by institutional investors.

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Avnet Company Profile

Avnet, Inc is a distributor of electronic components, enterprise computer, networking and storage products and software, and embedded subsystems. The Company operates through Electronics Marketing (EM) segment. The EM segment markets and sells semiconductors; interconnect, passive and electromechanical devices (IP&E), and embedded products to a customer base serving various end markets.

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