Deutsche Bank AG Acquires Shares of 33,215 Avnet, Inc. $AVT

Deutsche Bank AG bought a new position in shares of Avnet, Inc. (NASDAQ:AVT) during the second quarter, HoldingsChannel reports. The firm bought 33,215 shares of the company’s stock, valued at approximately $2,950,000.

Other hedge funds also recently made changes to their positions in the company. Royal Bank of Canada raised its position in shares of Avnet by 3.0% during the 1st quarter. Royal Bank of Canada now owns 71,697 shares of the company’s stock valued at $3,447,000 after acquiring an additional 2,101 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in Avnet by 16.0% in the first quarter. Goldman Sachs Group Inc. now owns 231,814 shares of the company’s stock worth $11,148,000 after purchasing an additional 31,919 shares during the period. United Services Automobile Association bought a new stake in Avnet during the first quarter valued at $267,000. Empowered Funds LLC increased its stake in Avnet by 9.3% during the first quarter. Empowered Funds LLC now owns 8,142 shares of the company’s stock valued at $392,000 after purchasing an additional 696 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Avnet by 4.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 353,757 shares of the company’s stock valued at $17,012,000 after purchasing an additional 16,443 shares during the last quarter. Institutional investors and hedge funds own 95.78% of the company’s stock.

Analyst Upgrades and Downgrades

AVT has been the topic of a number of recent research reports. Truist Financial raised their price target on shares of Avnet from $95.00 to $110.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Wall Street Zen raised shares of Avnet from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 25th. Raymond James Financial restated a “strong-buy” rating and issued a $95.00 target price on shares of Avnet in a research note on Thursday, April 30th. Weiss Ratings upgraded Avnet from a “hold (c+)” rating to a “buy (b)” rating in a research report on Friday, August 14th. Finally, 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 report on Wednesday, May 13th. Two research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $93.25.

Avnet Trading Up 3.1%

Avnet stock opened at $90.29 on Thursday. 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 firm has a market capitalization of $7.41 billion, a price-to-earnings ratio of 22.63, a PEG ratio of 0.27 and a beta of 1.09. The firm has a 50-day moving average price of $89.19 and a two-hundred day moving average price of $78.88.

Avnet (NASDAQ:AVT) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $2.28 EPS for the quarter, beating the consensus estimate of $1.80 by $0.48. The company had revenue of $8.30 billion for the quarter, compared to analyst estimates of $7.56 billion. Avnet had a net margin of 1.21% and a return on equity of 9.57%. Avnet’s revenue was up 47.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.81 earnings per share. Avnet has set its Q1 2027 guidance at 2.800-2.900 EPS. Sell-side analysts expect that Avnet, Inc. will post 10.45 earnings per share for the current year.

Avnet Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 23rd. Investors of record on Wednesday, September 9th will be given a $0.37 dividend. The ex-dividend date is Wednesday, September 9th. This represents a $1.48 annualized dividend and a yield of 1.6%. This is an increase from Avnet’s previous quarterly dividend of $0.35. Avnet’s payout ratio is 35.09%.

Insider Buying and Selling at Avnet

In other Avnet news, CEO Philip R. Gallagher sold 51,900 shares of Avnet stock in a transaction 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 sale, the chief executive officer owned 168,923 shares of the company’s stock, valued at $16,632,158.58. The trade was a 23.50% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Michael Ryan Mccoy sold 32,052 shares of the business’s stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $91.10, for a total value of $2,919,937.20. Following the transaction, the senior vice president owned 76,674 shares of the company’s stock, valued at $6,985,001.40. This trade represents a 29.48% decrease in their position. The SEC filing for this sale provides additional information. 1.90% of the stock is owned by insiders.

About Avnet

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.