Kendall Capital Management Takes Position in Avnet, Inc. $AVT

Kendall Capital Management bought a new position in Avnet, Inc. (NASDAQ:AVT) during the second quarter, HoldingsChannel reports. The fund bought 176,140 shares of the company’s stock, valued at approximately $15,645,000. Avnet accounts for 2.6% of Kendall Capital Management’s investment portfolio, making the stock its 8th biggest position.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Greenland Capital Management LP bought a new stake in Avnet during the second quarter valued at about $1,120,000. Commerce Bank bought a new position in shares of Avnet in the second quarter worth about $609,000. Quantbot Technologies LP purchased a new position in shares of Avnet during the 2nd quarter valued at about $2,477,000. Evolve Private Wealth LLC purchased a new position in shares of Avnet during the 2nd quarter valued at about $216,000. Finally, William Blair Investment Management LLC bought a new position in shares of Avnet during the 2nd quarter valued at approximately $28,853,000. 95.78% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have commented on AVT. Weiss Ratings upgraded shares of Avnet from a “hold (c+)” rating to a “buy (b)” rating in a research note on Friday, August 14th. Wells Fargo & Company upped their price target on shares of Avnet from $70.00 to $72.00 and gave the stock an “underweight” rating in a research report on Monday, July 20th. Truist Financial increased their price objective on shares of Avnet from $95.00 to $110.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Bank of America upgraded shares of Avnet from an “underperform” rating to a “neutral” rating and lifted their target price for the company from $66.00 to $96.00 in a research note on Wednesday, May 13th. Finally, Wall Street Zen raised shares of Avnet from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 25th. Two analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $93.25.

Insiders Place Their Bets

In related news, CEO Philip R. Gallagher sold 51,900 shares of the company’s stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $98.46, for a total transaction of $5,110,074.00. Following the sale, the chief executive officer owned 168,923 shares of the company’s stock, valued at $16,632,158.58. This represents a 23.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Michael Ryan Mccoy sold 32,052 shares of the stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $91.10, for a total transaction of $2,919,937.20. Following the transaction, the senior vice president owned 76,674 shares of the company’s stock, valued at $6,985,001.40. This trade represents a 29.48% decrease in their position. The SEC filing for this sale provides additional information. 1.90% of the stock is owned by corporate insiders.

Avnet Stock Performance

NASDAQ AVT opened at $88.64 on Friday. The stock has a market capitalization of $7.27 billion, a PE ratio of 22.22, a P/E/G ratio of 0.27 and a beta of 1.09. The business has a 50 day simple moving average of $89.35 and a two-hundred day simple moving average of $78.27. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.78 and a quick ratio of 0.97. Avnet, Inc. has a 1-year low of $44.25 and a 1-year high of $100.00.

Avnet (NASDAQ:AVT) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $2.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.80 by $0.48. The business had revenue of $8.30 billion for the quarter, compared to analysts’ expectations of $7.56 billion. Avnet had a return on equity of 9.57% and a net margin of 1.21%.The company’s revenue for the quarter was up 47.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.81 EPS. Avnet has set its Q1 2027 guidance at 2.800-2.900 EPS. On average, research analysts predict that Avnet, Inc. will post 10.45 EPS for the current fiscal year.

Avnet Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 23rd. Investors of record on Wednesday, September 9th will be given a $0.37 dividend. This is a boost from Avnet’s previous quarterly dividend of $0.35. This represents a $1.48 annualized dividend and a yield of 1.7%. The ex-dividend date is Wednesday, September 9th. Avnet’s dividend payout ratio (DPR) is presently 35.09%.

Avnet News Roundup

Here are the key news stories impacting Avnet this week:

• Positive Sentiment: Broad-based earnings estimate increases: Zacks Research raised its EPS forecasts across multiple periods, including Q1 2027 to $2.85 from $1.53, Q2 2027 to $2.16 from $1.74, Q3 2027 to $1.96 from $1.55, and FY2027 to $9.00 from $6.65. The firm also lifted FY2028 estimates to $9.79 from $7.19 and projects FY2029 EPS of $10.15. Zacks maintains a “Strong-Buy” rating. Zacks Research earnings estimates
• Positive Sentiment: Higher forward-quarter expectations: The firm increased its Q1 2028 forecast to $3.14 from $1.85, Q2 2028 to $2.35 from $1.89, Q3 2028 to $2.06 from $1.66, and Q4 2028 to $2.23 from $1.79. These revisions point to stronger anticipated earnings momentum than previously expected. Avnet forward earnings revisions
• Positive Sentiment: Dividend increase: Avnet declared a quarterly dividend of $0.37 per share, up from $0.35, representing a 5.7% increase. The dividend is payable September 23 to shareholders of record September 9, with an indicated annual yield of approximately 1.7%. Avnet increases quarterly dividend
• Neutral Sentiment: Valuation remains a focus: Zacks is examining whether Avnet is undervalued based on value, growth, momentum, and earnings-estimate trends. The discussion could attract value-oriented investors, although the article details provided do not include a specific valuation conclusion. Are Investors Undervaluing Avnet

About Avnet

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.