Shares of Avnet Inc. (NYSE:AVT) gapped down prior to trading on Friday . The stock had previously closed at $39.62, but opened at $39.95. Avnet shares last traded at $41.16, with a volume of 458,140 shares trading hands.

Several brokerages recently commented on AVT. Credit Agricole SA lowered Avnet from an “outperform” rating to an “underperform” rating in a research note on Thursday, April 28th. Bank of America Corp. assumed coverage on Avnet in a research note on Wednesday, April 27th. They issued a “neutral” rating on the stock. Zacks Investment Research raised Avnet from a “sell” rating to a “hold” rating in a research note on Tuesday, March 29th. Brean Capital lowered Avnet from a “buy” rating to a “hold” rating in a research note on Friday, April 29th. Finally, Goldman Sachs Group Inc. raised Avnet from a “sell” rating to a “neutral” rating and boosted their price objective for the stock from $39.00 to $41.00 in a research note on Tuesday, June 7th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $45.14.

The stock has a market capitalization of $5.30 billion and a P/E ratio of 9.81. The firm has a 50 day moving average price of $41.08 and a 200-day moving average price of $41.47.

Avnet (NYSE:AVT) last issued its quarterly earnings data on Thursday, April 28th. The company reported $1.01 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.98 by $0.03. The company earned $6.17 billion during the quarter, compared to analysts’ expectations of $6.31 billion. The business’s quarterly revenue was down 8.3% on a year-over-year basis. During the same quarter last year, the business earned $1.04 earnings per share. Analysts forecast that Avnet Inc. will post $4.35 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 20th. Shareholders of record on Tuesday, June 7th were issued a $0.17 dividend. The ex-dividend date of this dividend was Friday, June 3rd. This represents a $0.68 annualized dividend and a yield of 1.65%.

A number of hedge funds recently modified their holdings of AVT. SECOR Capital Advisors LP raised its stake in shares of Avnet by 1.9% in the fourth quarter. SECOR Capital Advisors LP now owns 23,334 shares of the company’s stock valued at $1,000,000 after buying an additional 425 shares during the period. Point View Wealth Management Inc. raised its stake in shares of Avnet by 4.9% in the fourth quarter. Point View Wealth Management Inc. now owns 25,626 shares of the company’s stock valued at $1,098,000 after buying an additional 1,194 shares during the period. Aviance Capital Partners LLC raised its stake in shares of Avnet by 13.4% in the fourth quarter. Aviance Capital Partners LLC now owns 27,455 shares of the company’s stock valued at $1,176,000 after buying an additional 3,243 shares during the period. Twin Capital Management Inc. raised its stake in shares of Avnet by 51.0% in the fourth quarter. Twin Capital Management Inc. now owns 43,430 shares of the company’s stock valued at $1,861,000 after buying an additional 14,660 shares during the period. Finally, GAM Holding AG raised its stake in shares of Avnet by 2.6% in the fourth quarter. GAM Holding AG now owns 44,145 shares of the company’s stock valued at $1,891,000 after buying an additional 1,133 shares during the period.

Avnet, Inc distributes electronic components, enterprise computer and storage products, information technology solutions and services, and embedded subsystems. The Company operates in two segments: Electronics Marketing (EM) and Technology Solutions (TS). Both operating groups have operations in each of the three economic regions of the world: the Americas; Europe, the Middle East and Africa; and Asia/Pacific, consisting of Asia, Australia and New Zealand.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.