Avnet, Inc. $AVT Stock Position Reduced by Wishbone Management LP

Wishbone Management LP lowered its stake in Avnet, Inc. (NASDAQ:AVT) by 26.4% during the 4th quarter, Holdings Channel reports. The firm owned 950,000 shares of the company’s stock after selling 340,000 shares during the quarter. Avnet makes up about 19.5% of Wishbone Management LP’s holdings, making the stock its 3rd biggest position. Wishbone Management LP’s holdings in Avnet were worth $45,676,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Hantz Financial Services Inc. lifted its stake in Avnet by 132.7% in the 3rd quarter. Hantz Financial Services Inc. now owns 526 shares of the company’s stock worth $27,000 after purchasing an additional 300 shares in the last quarter. BOKF NA lifted its stake in Avnet by 1,116.7% in the 3rd quarter. BOKF NA now owns 584 shares of the company’s stock worth $31,000 after purchasing an additional 536 shares in the last quarter. MAI Capital Management lifted its stake in Avnet by 53.7% in the 3rd quarter. MAI Capital Management now owns 673 shares of the company’s stock worth $35,000 after purchasing an additional 235 shares in the last quarter. Allworth Financial LP lifted its stake in Avnet by 199.1% in the 3rd quarter. Allworth Financial LP now owns 700 shares of the company’s stock worth $37,000 after purchasing an additional 466 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB lifted its stake in Avnet by 53.9% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 737 shares of the company’s stock worth $35,000 after purchasing an additional 258 shares in the last quarter. Hedge funds and other institutional investors own 95.78% of the company’s stock.

Avnet Stock Up 2.4%

Shares of NASDAQ AVT opened at $90.59 on Friday. The firm’s 50-day moving average price is $80.12 and its 200-day moving average price is $64.53. The company has a current ratio of 2.01, a quick ratio of 1.05 and a debt-to-equity ratio of 0.50. The stock has a market capitalization of $7.43 billion, a price-to-earnings ratio of 35.25, a P/E/G ratio of 0.40 and a beta of 1.08. Avnet, Inc. has a 12-month low of $44.25 and a 12-month high of $95.26.

Avnet (NASDAQ:AVT) last announced its earnings results on Wednesday, April 29th. The company reported $1.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.33 by $0.15. The firm had revenue of $7.12 billion for the quarter, compared to analysts’ expectations of $6.45 billion. Avnet had a net margin of 0.86% and a return on equity of 7.07%. The business’s revenue was up 34.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.84 EPS. Avnet has set its Q4 2026 guidance at 1.700-1.800 EPS. On average, equities research analysts anticipate that Avnet, Inc. will post 5.12 EPS for the current fiscal year.

Avnet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 17th. Investors of record on Wednesday, June 3rd will be given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend is Wednesday, June 3rd. Avnet’s dividend payout ratio is 54.47%.

Insiders Place Their Bets

In related news, CEO Philip R. Gallagher sold 23,920 shares of the stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $82.92, for a total value of $1,983,446.40. Following the sale, the chief executive officer directly owned 145,003 shares of the company’s stock, valued at $12,023,648.76. This represents a 14.16% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.90% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several analysts have commented on AVT shares. Wall Street Zen cut shares of Avnet from a “strong-buy” rating to a “buy” rating in a research note on Sunday, May 10th. Wells Fargo & Company upped their target price on shares of Avnet from $60.00 to $70.00 and gave the company an “underweight” rating in a research report on Thursday, April 30th. Truist Financial upped their target price on shares of Avnet to $95.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. Weiss Ratings cut shares of Avnet from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, March 19th. Finally, Raymond James Financial restated a “strong-buy” rating and set a $95.00 target price on shares of Avnet in a research report on Thursday, April 30th. Two investment analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $89.00.

Avnet 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.