Insider Selling: Avnet (NASDAQ:AVT) CEO Sells 51,900 Shares

Avnet, Inc. (NASDAQ:AVT) CEO Philip 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. The trade was a 23.50% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Avnet Trading Down 1.4%

Shares of NASDAQ:AVT traded down $1.32 during midday trading on Thursday, hitting $95.99. The company had a trading volume of 783,869 shares, compared to its average volume of 1,245,263. Avnet, Inc. has a 12 month low of $44.25 and a 12 month high of $100.00. The company has a current ratio of 1.78, a quick ratio of 0.97 and a debt-to-equity ratio of 0.49. The stock has a market cap of $7.87 billion, a price-to-earnings ratio of 24.06, a PEG ratio of 0.32 and a beta of 1.09. The firm has a fifty day simple moving average of $88.67 and a 200 day simple moving average of $76.65.

Avnet (NASDAQ:AVT) last released its quarterly earnings data on Wednesday, August 5th. The company reported $2.28 EPS for the quarter, beating analysts’ consensus estimates of $1.80 by $0.48. Avnet had a return on equity of 9.57% and a net margin of 1.21%.The business had revenue of $8.30 billion during the quarter, compared to the consensus estimate of $7.56 billion. During the same quarter in the prior year, the company posted $0.81 earnings per share. The firm’s revenue was up 47.7% on a year-over-year basis. Avnet has set its Q1 2027 guidance at 2.800-2.900 EPS. On average, analysts predict that Avnet, Inc. will post 9.66 EPS for the current year.

Avnet Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 17th. Investors of record on Wednesday, June 3rd were given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date was Wednesday, June 3rd. Avnet’s dividend payout ratio (DPR) is currently 35.09%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of Avnet during the second quarter worth $25,000. Summit Securities Group LLC acquired a new stake in shares of Avnet in the 4th quarter valued at about $28,000. BOKF NA lifted its holdings in shares of Avnet by 1,116.7% in the third quarter. BOKF NA now owns 584 shares of the company’s stock valued at $31,000 after purchasing an additional 536 shares in the last quarter. State of Wyoming acquired a new position in shares of Avnet during the second quarter worth about $37,000. Finally, Hantz Financial Services Inc. grew its holdings in shares of Avnet by 62.0% during the fourth quarter. Hantz Financial Services Inc. now owns 852 shares of the company’s stock worth $41,000 after buying an additional 326 shares in the last quarter. Institutional investors own 95.78% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on AVT shares. Bank of America upgraded shares of Avnet from an “underperform” rating to a “neutral” rating and boosted their price objective for the company from $66.00 to $96.00 in a report on Wednesday, May 13th. Weiss Ratings lowered shares of Avnet from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, July 28th. Wells Fargo & Company raised their price objective on Avnet from $70.00 to $72.00 and gave the stock an “underweight” rating in a research note on Monday, July 20th. Wall Street Zen upgraded Avnet from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 25th. Finally, Zacks Research raised Avnet from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 7th. Two analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Avnet currently has an average rating of “Moderate Buy” and a consensus price target of $93.25.

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.