Avnet (NYSE:AVT) Coverage Initiated at Deutsche Bank
Deutsche Bank began coverage on shares of Avnet (NYSE:AVT) in a report issued on Tuesday morning, BenzingaRatingsTable reports. The firm issued a hold rating and a $44.00 price objective on the technology company’s stock.
Several other equities analysts have also recently commented on AVT. Zacks Investment Research cut shares of Avnet from a hold rating to a sell rating in a research report on Thursday, April 4th. TheStreet raised shares of Avnet from a c+ rating to a b- rating in a research report on Wednesday, April 10th. Finally, Citigroup set a $47.00 target price on shares of Avnet and gave the stock a hold rating in a research report on Friday, April 26th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus price target of $48.17.
AVT stock opened at $44.57 on Tuesday. Avnet has a 52-week low of $33.55 and a 52-week high of $49.40.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 19th. Shareholders of record on Wednesday, June 5th will be given a dividend of $0.20 per share. The ex-dividend date is Tuesday, June 4th. This represents a $0.80 annualized dividend and a dividend yield of 1.79%.
In other Avnet news, Director James A. Lawrence sold 187,495 shares of Avnet stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $47.48, for a total transaction of $8,902,262.60. Following the transaction, the director now owns 616,392 shares of the company’s stock, valued at approximately $29,266,292.16. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Kenneth A. Jacobson sold 7,796 shares of Avnet stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $47.92, for a total transaction of $373,584.32. The disclosure for this sale can be found here. In the last three months, insiders have sold 215,911 shares of company stock worth $10,207,871. Insiders own 1.65% of the company’s stock.
Large investors have recently bought and sold shares of the stock. Rockefeller Capital Management L.P. bought a new stake in shares of Avnet in the 1st quarter worth approximately $32,000. Fort L.P. bought a new stake in shares of Avnet in the 1st quarter worth approximately $37,000. Advisory Services Network LLC raised its holdings in shares of Avnet by 1,178.9% in the 1st quarter. Advisory Services Network LLC now owns 908 shares of the technology company’s stock worth $40,000 after purchasing an additional 837 shares during the period. Pearl River Capital LLC bought a new stake in shares of Avnet in the 4th quarter worth approximately $61,000. Finally, Osborn Williams & Donohoe LLC bought a new stake in shares of Avnet in the 1st quarter worth approximately $132,000. 96.44% of the stock is currently owned by institutional investors.
Avnet Company Profile
Avnet, Inc, together with its subsidiaries, distributes electronic components worldwide. The company operates through two segments, Electronic Components and Premier Farnell. The Electronic Components segment markets and sells semiconductors; electronic components, including interconnect, passive and electromechanical devices; and other integrated components from electronic component manufacturers.
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