GSA Capital Partners LLP Takes Position in Avnet, Inc. $AVT

GSA Capital Partners LLP purchased a new position in Avnet, Inc. (NASDAQ:AVT) during the 2nd quarter, Holdings Channel.com reports. The firm purchased 23,175 shares of the company’s stock, valued at approximately $2,058,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AVT. Jefferies Financial Group Inc. bought a new position in shares of Avnet during the fourth quarter valued at $602,000. Jupiter Asset Management Ltd. bought a new position in Avnet in the 4th quarter worth about $4,865,000. Edgestream Partners L.P. purchased a new stake in Avnet during the 1st quarter valued at about $2,400,000. LSV Asset Management grew its position in Avnet by 7.6% during the 4th quarter. LSV Asset Management now owns 2,811,171 shares of the company’s stock valued at $135,161,000 after purchasing an additional 197,400 shares during the last quarter. Finally, Renaissance Technologies LLC increased its stake in Avnet by 420.3% during the 1st quarter. Renaissance Technologies LLC now owns 82,200 shares of the company’s stock valued at $5,065,000 after purchasing an additional 66,400 shares in the last quarter. Institutional investors own 95.78% of the company’s stock.

Avnet Stock Down 0.3%

Shares of AVT stock opened at $95.71 on Friday. The stock has a market cap of $7.85 billion, a P/E ratio of 23.99, a PEG ratio of 0.32 and a beta of 1.09. Avnet, Inc. has a 52 week low of $44.25 and a 52 week high of $100.00. The company has a quick ratio of 0.97, a current ratio of 1.78 and a debt-to-equity ratio of 0.49. The company’s fifty day simple moving average is $89.01 and its two-hundred day simple moving average is $77.10.

Avnet (NASDAQ:AVT) last released its quarterly earnings data on Wednesday, August 5th. The company reported $2.28 EPS for the quarter, beating the consensus estimate of $1.80 by $0.48. The business had revenue of $8.30 billion during the quarter, compared to the consensus estimate of $7.56 billion. Avnet had a net margin of 1.21% and a return on equity of 9.57%. The business’s revenue was up 47.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.81 EPS. Avnet has set its Q1 2027 guidance at 2.800-2.900 EPS. Analysts predict that Avnet, Inc. will post 9.66 EPS for the current fiscal year.

Avnet Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 17th. Investors of record on Wednesday, June 3rd were paid a dividend of $0.35 per share. The ex-dividend date of this dividend was Wednesday, June 3rd. This represents a $1.40 dividend on an annualized basis and a yield of 1.5%. Avnet’s dividend payout ratio is presently 35.09%.

Analysts Set New Price Targets

AVT has been the subject of several recent analyst reports. Zacks Research raised shares of Avnet from a “hold” rating to a “strong-buy” rating in a report on Friday, August 7th. Raymond James Financial reiterated a “strong-buy” rating and set a $95.00 price target on shares of Avnet in a report on Thursday, April 30th. Truist Financial raised their price target on shares of Avnet from $95.00 to $110.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Wells Fargo & Company boosted their price objective on shares of Avnet from $70.00 to $72.00 and gave the stock an “underweight” rating in a report on Monday, July 20th. Finally, Bank of America raised 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. Two investment analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $93.25.

Insiders Place Their Bets

In other Avnet news, CEO Philip R. Gallagher sold 51,900 shares of the firm’s stock in a transaction that occurred on Wednesday, August 12th. The stock was 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 $16,632,158.58. This trade represents a 23.50% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 1.90% of the stock is owned by corporate insiders.

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.