Dreman Value Management L L C maintained its position in shares of Avnet, Inc. (NYSE:AVT) during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 9,358 shares of the technology company’s stock at the close of the 2nd quarter. Dreman Value Management L L C’s holdings in Avnet were worth $428,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Weaver C. Barksdale & Associates Inc. raised its position in shares of Avnet by 11.2% during the 2nd quarter. Weaver C. Barksdale & Associates Inc. now owns 2,608 shares of the technology company’s stock valued at $101,000 after buying an additional 262 shares in the last quarter. Pacad Investment Ltd. purchased a new stake in shares of Avnet during the 2nd quarter valued at $113,000. Daiwa Securities Group Inc. raised its position in shares of Avnet by 21.9% during the 2nd quarter. Daiwa Securities Group Inc. now owns 3,900 shares of the technology company’s stock valued at $152,000 after buying an additional 700 shares in the last quarter. Riverhead Capital Management LLC raised its position in shares of Avnet by 50.3% during the 2nd quarter. Riverhead Capital Management LLC now owns 4,659 shares of the technology company’s stock valued at $181,000 after buying an additional 1,559 shares in the last quarter. Finally, M&T Bank Corp purchased a new stake in shares of Avnet during the 2nd quarter valued at $208,000. Hedge funds and other institutional investors own 97.06% of the company’s stock.

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Avnet, Inc. (NYSE:AVT) traded up 0.15% during trading on Tuesday, hitting $40.71. 50,308 shares of the company traded hands. Avnet, Inc. has a 52 week low of $35.67 and a 52 week high of $51.50. The company’s 50 day moving average is $38.96 and its 200-day moving average is $39.17. The stock has a market capitalization of $5.01 billion, a PE ratio of 9.96 and a beta of 1.07.

Avnet (NYSE:AVT) last released its quarterly earnings results on Wednesday, August 9th. The technology company reported $0.84 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.77 by $0.07. The company had revenue of $4.61 billion for the quarter, compared to the consensus estimate of $4.48 billion. Avnet had a net margin of 1.59% and a return on equity of 5.72%. Avnet’s revenue was up 16.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.86 earnings per share. Analysts predict that Avnet, Inc. will post $3.27 earnings per share for the current year.

In related news, Director J Veronica Biggins sold 10,600 shares of the company’s stock in a transaction on Thursday, August 17th. The shares were sold at an average price of $37.10, for a total transaction of $393,260.00. Following the sale, the director now owns 12,191 shares of the company’s stock, valued at $452,286.10. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.65% of the stock is owned by corporate insiders.

Several analysts have recently weighed in on AVT shares. Zacks Investment Research upgraded shares of Avnet from a “hold” rating to a “buy” rating and set a $45.00 price objective on the stock in a research report on Tuesday, October 10th. ValuEngine upgraded shares of Avnet from a “hold” rating to a “buy” rating in a research report on Tuesday, September 26th. BidaskClub upgraded shares of Avnet from a “hold” rating to a “buy” rating in a research report on Monday, July 3rd. Deutsche Bank AG restated a “hold” rating and set a $39.00 price objective (down previously from $40.00) on shares of Avnet in a research report on Thursday, August 10th. Finally, Bank of America Corporation cut shares of Avnet from a “neutral” rating to an “underperform” rating and lowered their price objective for the company from $44.00 to $40.00 in a research report on Friday, July 14th. Four investment analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $39.50.

Avnet Profile

Avnet, Inc is a distributor of electronic components, enterprise computer, networking and storage products and software, and embedded subsystems. The Company operates through Electronics Marketing (EM) segment. The EM segment markets and sells semiconductors; interconnect, passive and electromechanical devices (IP&E), and embedded products to a customer base serving various end markets.

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Institutional Ownership by Quarter for Avnet (NYSE:AVT)

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