Avnet, Inc. $AVT Shares Sold by Geode Capital Management LLC

Geode Capital Management LLC reduced its stake in Avnet, Inc. (NASDAQ:AVT) by 4.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 1,780,508 shares of the company’s stock after selling 74,444 shares during the quarter. Geode Capital Management LLC owned 2.17% of Avnet worth $86,366,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the stock. Jefferies Financial Group Inc. purchased a new position in shares of Avnet in the 4th quarter valued at $602,000. GSA Capital Partners LLP purchased a new position in shares of Avnet in the 3rd quarter valued at $616,000. Candriam S.C.A. purchased a new position in shares of Avnet in the 3rd quarter valued at $2,064,000. Bessemer Group Inc. grew its holdings in shares of Avnet by 7,002.0% during the third quarter. Bessemer Group Inc. now owns 28,053 shares of the company’s stock worth $1,466,000 after purchasing an additional 27,658 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in shares of Avnet by 2.0% during the third quarter. Vanguard Group Inc. now owns 10,783,059 shares of the company’s stock worth $563,738,000 after purchasing an additional 214,290 shares in the last quarter. 95.78% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Zacks Research raised Avnet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 14th. Raymond James Financial reissued a “strong-buy” rating and issued a $95.00 target price on shares of Avnet in a report on Thursday, April 30th. Truist Financial boosted their target price on Avnet to $95.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. Bank of America raised Avnet from an “underperform” rating to a “neutral” rating and boosted their target price for the company from $66.00 to $96.00 in a report on Wednesday, May 13th. Finally, Wall Street Zen downgraded Avnet from a “strong-buy” rating to a “buy” rating in a report on Sunday, May 10th. Two equities research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $89.00.

Avnet Stock Performance

NASDAQ AVT opened at $86.81 on Monday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.05 and a current ratio of 2.01. The firm has a market cap of $7.12 billion, a PE ratio of 33.78, a P/E/G ratio of 0.39 and a beta of 1.08. Avnet, Inc. has a one year low of $44.25 and a one year high of $95.26. The firm’s fifty day moving average is $77.44 and its two-hundred day moving average is $63.17.

Avnet (NASDAQ:AVT) last posted its quarterly earnings data on Wednesday, April 29th. The company reported $1.48 EPS for the quarter, beating analysts’ consensus estimates of $1.33 by $0.15. The company had revenue of $7.12 billion for the quarter, compared to analyst estimates of $6.45 billion. Avnet had a net margin of 0.86% and a return on equity of 7.07%. Avnet’s quarterly revenue was up 34.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.84 earnings per share. Avnet has set its Q4 2026 guidance at 1.700-1.800 EPS. Analysts expect that Avnet, Inc. will post 5.12 earnings per share for the current year.

Avnet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 17th. Stockholders of record on Wednesday, June 3rd will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 1.6%. The ex-dividend date is Wednesday, June 3rd. Avnet’s dividend payout ratio (DPR) is 54.47%.

Insider Buying and Selling at Avnet

In other news, CEO Philip R. Gallagher sold 23,920 shares of Avnet 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 owned 145,003 shares of the company’s stock, valued at $12,023,648.76. The trade was a 14.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.90% of the stock is currently owned by insiders.

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.