Mastrapasqua Asset Management Inc. Acquires Shares of 27,745 Avnet, Inc. (NASDAQ:AVT)

Mastrapasqua Asset Management Inc. acquired a new stake in Avnet, Inc. (NASDAQ:AVTGet Rating) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 27,745 shares of the company’s stock, valued at approximately $1,126,000.

Other large investors have also recently bought and sold shares of the company. NorthCrest Asset Manangement LLC raised its stake in shares of Avnet by 2.2% in the 1st quarter. NorthCrest Asset Manangement LLC now owns 14,250 shares of the company’s stock valued at $578,000 after purchasing an additional 300 shares in the last quarter. Fruth Investment Management raised its stake in shares of Avnet by 8.8% in the 1st quarter. Fruth Investment Management now owns 31,550 shares of the company’s stock valued at $1,280,000 after purchasing an additional 2,550 shares in the last quarter. Diversified Trust Co raised its stake in shares of Avnet by 56.3% in the 1st quarter. Diversified Trust Co now owns 8,009 shares of the company’s stock valued at $325,000 after purchasing an additional 2,884 shares in the last quarter. American Trust acquired a new stake in shares of Avnet in the 4th quarter valued at about $209,000. Finally, Barclays PLC raised its stake in shares of Avnet by 49.2% in the 4th quarter. Barclays PLC now owns 144,383 shares of the company’s stock valued at $5,954,000 after purchasing an additional 47,640 shares in the last quarter. 96.44% of the stock is owned by institutional investors.

NASDAQ AVT opened at $42.27 on Friday. Avnet, Inc. has a 52 week low of $35.71 and a 52 week high of $50.19. The company has a current ratio of 2.02, a quick ratio of 1.12 and a debt-to-equity ratio of 0.22. The stock has a market cap of $4.13 billion, a price-to-earnings ratio of 7.99, a price-to-earnings-growth ratio of 0.17 and a beta of 1.27. The company has a 50-day moving average price of $45.19 and a two-hundred day moving average price of $42.18.

Avnet (NASDAQ:AVTGet Rating) last posted its earnings results on Wednesday, April 27th. The company reported $2.15 EPS for the quarter, topping the consensus estimate of $1.51 by $0.64. Avnet had a net margin of 2.29% and a return on equity of 14.40%. The firm had revenue of $6.49 billion during the quarter, compared to analysts’ expectations of $5.71 billion. During the same quarter in the prior year, the firm earned $0.74 EPS. Avnet’s quarterly revenue was up 32.0% on a year-over-year basis. As a group, equities research analysts expect that Avnet, Inc. will post 6.83 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 22nd. Shareholders of record on Wednesday, June 8th were given a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 2.46%. The ex-dividend date of this dividend was Tuesday, June 7th. Avnet’s dividend payout ratio (DPR) is 19.66%.

Several research firms recently weighed in on AVT. Citigroup increased their price objective on shares of Avnet from $45.00 to $50.00 and gave the stock a “neutral” rating in a research note on Tuesday, June 7th. Wells Fargo & Company increased their price objective on shares of Avnet from $40.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Tuesday, June 7th. Finally, Truist Financial dropped their price objective on shares of Avnet from $45.00 to $41.00 and set a “hold” rating on the stock in a research note on Friday, April 8th. Four research analysts have rated the stock with a hold rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Avnet presently has an average rating of “Hold” and a consensus target price of $47.20.

In other news, Director William H. Schumann sold 3,856 shares of the stock in a transaction that occurred on Wednesday, May 4th. The shares were sold at an average price of $45.20, for a total value of $174,291.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.10% of the stock is currently owned by corporate insiders.

Avnet Profile (Get Rating)

Avnet, Inc, a technology solutions company, markets, sells, and distributes electronic components. The company operates through two segments, Electronic Components and Farnell. The Electronic Components segment markets, sells, and distributes semiconductors; interconnect, passive, and electromechanical devices; and other integrated components from electronic component manufacturers.

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Institutional Ownership by Quarter for Avnet (NASDAQ:AVT)

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