Victory Capital Management Inc. Sells 12,065 Shares of Avnet, Inc. $AVT

Victory Capital Management Inc. trimmed its position in shares of Avnet, Inc. (NASDAQ:AVT) by 4.0% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 292,774 shares of the company’s stock after selling 12,065 shares during the quarter. Victory Capital Management Inc.’s holdings in Avnet were worth $15,306,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of AVT. Hantz Financial Services Inc. raised its stake in shares of Avnet by 132.7% in the third quarter. Hantz Financial Services Inc. now owns 526 shares of the company’s stock valued at $27,000 after acquiring an additional 300 shares during the period. MAI Capital Management boosted its stake in shares of Avnet by 53.7% during the 3rd quarter. MAI Capital Management now owns 673 shares of the company’s stock worth $35,000 after purchasing an additional 235 shares during the period. Quent Capital LLC purchased a new position in shares of Avnet during the 3rd quarter worth about $38,000. Winnow Wealth LLC bought a new position in Avnet during the 3rd quarter valued at about $39,000. Finally, SJS Investment Consulting Inc. raised its position in Avnet by 7,176.9% in the 3rd quarter. SJS Investment Consulting Inc. now owns 946 shares of the company’s stock worth $49,000 after purchasing an additional 933 shares during the period. Institutional investors own 95.78% of the company’s stock.

Avnet Price Performance

Shares of AVT stock opened at $60.66 on Wednesday. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.07 and a quick ratio of 1.07. The company has a market capitalization of $4.97 billion, a P/E ratio of 24.86, a P/E/G ratio of 0.46 and a beta of 0.91. The company’s 50-day simple moving average is $58.75 and its two-hundred day simple moving average is $53.33. Avnet, Inc. has a one year low of $39.22 and a one year high of $68.29.

Avnet (NASDAQ:AVT) last posted its quarterly earnings results on Wednesday, January 28th. The company reported $1.05 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.10. Avnet had a net margin of 0.90% and a return on equity of 6.08%. The firm had revenue of $6.32 billion during the quarter, compared to the consensus estimate of $6.03 billion. During the same quarter in the previous year, the firm posted $0.87 earnings per share. The company’s revenue was up 11.6% on a year-over-year basis. Avnet has set its Q3 2026 guidance at 1.200-1.300 EPS. As a group, equities analysts anticipate that Avnet, Inc. will post 3.41 EPS for the current year.

Avnet Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 18th. Stockholders of record on Wednesday, March 4th will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Wednesday, March 4th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.3%. Avnet’s dividend payout ratio is presently 57.38%.

Wall Street Analysts Forecast Growth

AVT has been the subject of several analyst reports. Weiss Ratings raised shares of Avnet from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, March 4th. Wall Street Zen upgraded Avnet from a “hold” rating to a “buy” rating in a report on Saturday, January 31st. Wells Fargo & Company raised their price target on Avnet from $43.00 to $48.00 and gave the stock an “underweight” rating in a research note on Thursday, January 29th. Finally, Truist Financial upped their price objective on Avnet from $55.00 to $65.00 and gave the company a “hold” rating in a research report on Thursday, January 29th. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Reduce” and an average target price of $54.33.

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.