Financiere des Professionnels Fonds d investissement inc. Purchases New Stake in Avnet, Inc. $AVT

Financiere des Professionnels Fonds d investissement inc. purchased a new stake in shares of Avnet, Inc. (NASDAQ:AVT) in the 1st quarter, Holdings Channel reports. The institutional investor purchased 41,003 shares of the company’s stock, valued at approximately $2,527,000.

A number of other large investors have also added to or reduced their stakes in AVT. Summit Securities Group LLC purchased a new position in shares of Avnet in the fourth quarter valued at about $28,000. BOKF NA grew its stake in shares of Avnet by 1,116.7% in the third quarter. BOKF NA now owns 584 shares of the company’s stock worth $31,000 after purchasing an additional 536 shares during the last quarter. Allworth Financial LP increased its holdings in Avnet by 199.1% during the 3rd quarter. Allworth Financial LP now owns 700 shares of the company’s stock valued at $37,000 after purchasing an additional 466 shares during the period. MassMutual Private Wealth & Trust FSB increased its holdings in Avnet by 53.9% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 737 shares of the company’s stock valued at $35,000 after purchasing an additional 258 shares during the period. Finally, Hantz Financial Services Inc. raised its position in Avnet by 62.0% during the 4th quarter. Hantz Financial Services Inc. now owns 852 shares of the company’s stock valued at $41,000 after purchasing an additional 326 shares during the last quarter. Institutional investors own 95.78% of the company’s stock.

Insider Transactions at Avnet

In related news, CEO Philip R. Gallagher sold 23,920 shares of the business’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $82.92, for a total transaction of $1,983,446.40. Following the sale, the chief executive officer owned 145,003 shares of the company’s stock, valued at $12,023,648.76. The trade was a 14.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.90% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on AVT. Raymond James Financial reiterated a “strong-buy” rating and issued a $95.00 price objective on shares of Avnet in a research report on Thursday, April 30th. Zacks Research downgraded Avnet from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 30th. Bank of America raised Avnet from an “underperform” rating to a “neutral” rating and raised their price target for the stock from $66.00 to $96.00 in a research note on Wednesday, May 13th. Wall Street Zen downgraded shares of Avnet from a “strong-buy” rating to a “buy” rating in a research report on Sunday, May 10th. Finally, Wells Fargo & Company upped their price objective on shares of Avnet from $60.00 to $70.00 and gave the stock an “underweight” rating in a report on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Avnet has an average rating of “Moderate Buy” and an average target price of $89.00.

Avnet Trading Down 1.7%

AVT opened at $84.76 on Friday. The company has a quick ratio of 1.05, a current ratio of 2.01 and a debt-to-equity ratio of 0.50. Avnet, Inc. has a 52 week low of $44.25 and a 52 week high of $95.26. The stock has a market cap of $6.95 billion, a PE ratio of 32.98, a PEG ratio of 0.27 and a beta of 1.09. The business has a 50 day moving average of $86.79 and a 200-day moving average of $71.14.

Avnet (NASDAQ:AVT) last issued its quarterly earnings results on Wednesday, April 29th. The company reported $1.48 earnings per share for the quarter, topping the consensus estimate of $1.33 by $0.15. The company had revenue of $7.12 billion for the quarter, compared to analysts’ expectations of $6.45 billion. Avnet had a return on equity of 7.07% and a net margin of 0.86%.The firm’s revenue for the quarter was up 34.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.84 earnings per share. Avnet has set its Q4 2026 guidance at 1.700-1.800 EPS. Equities research analysts predict that Avnet, Inc. will post 5.12 earnings per share for the current fiscal year.

Avnet Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 17th. Investors of record on Wednesday, June 3rd were given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend was Wednesday, June 3rd. Avnet’s dividend payout ratio (DPR) is 54.47%.

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.