Avnet, Inc. $AVT Shares Bought by Hsbc Holdings PLC

Hsbc Holdings PLC raised its stake in Avnet, Inc. (NASDAQ:AVT) by 119.4% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 56,127 shares of the company’s stock after purchasing an additional 30,545 shares during the period. Hsbc Holdings PLC’s holdings in Avnet were worth $3,418,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Summit Securities Group LLC bought a new position in shares of Avnet during the fourth quarter worth about $28,000. BOKF NA increased its holdings in Avnet by 1,116.7% in the third quarter. BOKF NA now owns 584 shares of the company’s stock valued at $31,000 after buying an additional 536 shares during the last quarter. Allworth Financial LP increased its holdings in Avnet by 199.1% in the third quarter. Allworth Financial LP now owns 700 shares of the company’s stock valued at $37,000 after buying an additional 466 shares during the last quarter. Hantz Financial Services Inc. raised its stake in Avnet by 62.0% during the fourth quarter. Hantz Financial Services Inc. now owns 852 shares of the company’s stock valued at $41,000 after buying an additional 326 shares in the last quarter. Finally, Clearstead Advisors LLC raised its position in shares of Avnet by 123.7% during the 4th quarter. Clearstead Advisors LLC now owns 1,385 shares of the company’s stock valued at $67,000 after acquiring an additional 766 shares in the last quarter. Institutional investors and hedge funds own 95.78% of the company’s stock.

Avnet Trading Down 0.6%

Shares of AVT stock opened at $89.42 on Friday. The stock has a 50-day simple moving average of $87.31 and a 200 day simple moving average of $72.65. The stock has a market capitalization of $7.33 billion, a P/E ratio of 34.79, a P/E/G ratio of 0.28 and a beta of 1.09. Avnet, Inc. has a fifty-two week low of $44.25 and a fifty-two week high of $95.26. 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 (NASDAQ:AVT) last issued its quarterly earnings results on Wednesday, April 29th. The company reported $1.48 EPS for the quarter, topping the consensus estimate of $1.33 by $0.15. Avnet had a net margin of 0.86% and a return on equity of 7.07%. The firm had revenue of $7.12 billion for the quarter, compared to analysts’ expectations of $6.45 billion. During the same period in the previous year, the business earned $0.84 earnings per share. Avnet’s revenue for the quarter was up 34.0% compared to the same quarter last year. Avnet has set its Q4 2026 guidance at 1.700-1.800 EPS. On average, sell-side analysts expect that Avnet, Inc. will post 5.12 earnings per share for the current fiscal year.

Avnet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders of record on Wednesday, June 3rd were paid a $0.35 dividend. The ex-dividend date of this dividend was Wednesday, June 3rd. This represents a $1.40 annualized dividend and a dividend yield of 1.6%. Avnet’s payout ratio is currently 54.47%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on AVT shares. Bank of America upgraded Avnet from an “underperform” rating to a “neutral” rating and boosted their price objective for the company from $66.00 to $96.00 in a research report on Wednesday, May 13th. Wall Street Zen upgraded Avnet from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Raymond James Financial reissued a “strong-buy” rating and issued a $95.00 price target on shares of Avnet in a research note on Thursday, April 30th. Weiss Ratings raised Avnet from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, July 13th. Finally, Wells Fargo & Company raised their price target on Avnet from $70.00 to $72.00 and gave the company an “underweight” rating in a report on Monday. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Avnet presently has a consensus rating of “Moderate Buy” and an average target price of $89.50.

Insider Activity at Avnet

In related news, CEO Philip R. Gallagher sold 23,920 shares of the business’s stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $82.92, for a total value of $1,983,446.40. Following the sale, the chief executive officer directly owned 145,003 shares in the company, valued at $12,023,648.76. The trade was a 14.16% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.90% of the stock is owned by insiders.

Avnet Company 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.