Avnet (NASDAQ:AVT) CEO Philip Gallagher Sells 23,920 Shares

Avnet, Inc. (NASDAQ:AVT) CEO Philip Gallagher sold 23,920 shares of the company’s stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $82.92, for a total transaction of $1,983,446.40. Following the completion of the transaction, the chief executive officer owned 145,003 shares of the company’s stock, valued at approximately $12,023,648.76. This trade represents a 14.16% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Avnet Stock Up 1.6%

AVT opened at $83.70 on Thursday. Avnet, Inc. has a twelve month low of $44.25 and a twelve month high of $84.75. The company has a quick ratio of 1.05, a current ratio of 2.01 and a debt-to-equity ratio of 0.50. The company has a 50-day moving average price of $66.98 and a 200 day moving average price of $57.45. The company has a market cap of $6.87 billion, a PE ratio of 32.57, a price-to-earnings-growth ratio of 0.60 and a beta of 1.09.

Avnet (NASDAQ:AVT) last released its quarterly earnings results on Wednesday, April 29th. The company reported $1.48 earnings per share 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 during the quarter, compared to the consensus estimate of $6.45 billion. During the same quarter in the prior year, the firm earned $0.84 EPS. The company’s revenue for the quarter was up 34.0% on a year-over-year basis. Avnet has set its Q4 2026 guidance at 1.700-1.800 EPS. Sell-side analysts expect that Avnet, Inc. will post 4.92 earnings per share for the current fiscal year.

Avnet Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 18th. Investors of record on Wednesday, March 4th were given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 1.7%. The ex-dividend date was Wednesday, March 4th. Avnet’s dividend payout ratio is 54.47%.

Analyst Upgrades and Downgrades

AVT has been the subject of several research analyst reports. Wells Fargo & Company upped their price target on shares of Avnet from $60.00 to $70.00 and gave the stock an “underweight” rating in a research report on Thursday, April 30th. Weiss Ratings cut shares of Avnet from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, March 19th. Zacks Research raised shares of Avnet from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 14th. Wall Street Zen raised shares of Avnet from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 2nd. Finally, Truist Financial upped their price objective on shares of Avnet to $95.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Two equities research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Avnet presently has a consensus rating of “Moderate Buy” and a consensus target price of $77.50.

Institutional Trading of Avnet

Institutional investors have recently made changes to their positions in the company. Financiere des Professionnels Fonds d investissement inc. purchased a new stake in shares of Avnet during the 1st quarter valued at approximately $2,527,000. Quartz Partners LLC raised its position in shares of Avnet by 19.2% during the 1st quarter. Quartz Partners LLC now owns 11,887 shares of the company’s stock valued at $732,000 after buying an additional 1,917 shares during the period. Maryland State Retirement & Pension System purchased a new stake in shares of Avnet during the 1st quarter valued at approximately $256,000. State of Michigan Retirement System raised its position in shares of Avnet by 2.6% during the 1st quarter. State of Michigan Retirement System now owns 19,705 shares of the company’s stock valued at $1,214,000 after buying an additional 500 shares during the period. Finally, Principal Financial Group Inc. raised its position in shares of Avnet by 4.4% during the 1st quarter. Principal Financial Group Inc. now owns 182,707 shares of the company’s stock valued at $11,258,000 after buying an additional 7,776 shares during the period. Hedge funds and other institutional investors own 95.78% of the company’s stock.

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.