Ceredex Value Advisors LLC Buys Shares of 153,050 Avnet, Inc. $AVT

Ceredex Value Advisors LLC purchased a new position in shares of Avnet, Inc. (NASDAQ:AVT) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 153,050 shares of the company’s stock, valued at approximately $13,594,000.

Several other institutional investors and hedge funds have also modified their holdings of AVT. Quartz Partners LLC acquired a new stake in Avnet during the second quarter worth approximately $894,000. Great Lakes Advisors LLC acquired a new position in Avnet in the 2nd quarter valued at $4,240,000. Foster & Motley Inc. acquired a new position in Avnet in the 2nd quarter valued at $11,263,000. First National Bank of Omaha purchased a new position in shares of Avnet during the 2nd quarter worth $3,241,000. Finally, Alpine Woods Capital Investors LLC acquired a new stake in shares of Avnet during the second quarter worth $332,000. Hedge funds and other institutional investors own 95.78% of the company’s stock.

Insider Activity at Avnet

In other news, CEO Philip R. Gallagher sold 51,900 shares of the company’s stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $98.46, for a total value of $5,110,074.00. Following the completion of 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.90% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research firms recently commented on AVT. Zacks Research upgraded Avnet from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 7th. Weiss Ratings upgraded Avnet from a “hold (c+)” rating to a “buy (b)” rating in a report on Friday, August 14th. Bank of America raised shares of Avnet from an “underperform” rating to a “neutral” rating and upped their price objective for the company from $66.00 to $96.00 in a research note on Wednesday, May 13th. Raymond James Financial reiterated a “strong-buy” rating and set a $95.00 price objective on shares of Avnet in a report on Thursday, April 30th. Finally, Truist Financial boosted their target price on shares of Avnet from $95.00 to $110.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Two investment analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $93.25.

Avnet Trading Down 1.6%

Shares of AVT stock opened at $86.89 on Friday. The stock has a market cap of $7.13 billion, a price-to-earnings ratio of 21.78, a price-to-earnings-growth ratio of 0.29 and a beta of 1.09. The company has a quick ratio of 0.97, a current ratio of 1.78 and a debt-to-equity ratio of 0.49. Avnet, Inc. has a fifty-two week low of $44.25 and a fifty-two week high of $100.00. The firm’s 50 day moving average price is $89.39 and its two-hundred day moving average price is $78.19.

Avnet (NASDAQ:AVT) last released 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 company had revenue of $8.30 billion during the quarter, compared to analyst estimates of $7.56 billion. Avnet had a net margin of 1.21% and a return on equity of 9.57%. The business’s quarterly revenue was up 47.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.81 earnings per share. Avnet has set its Q1 2027 guidance at 2.800-2.900 EPS. On average, analysts anticipate that Avnet, Inc. will post 9.66 EPS for the current year.

Avnet Increases Dividend

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

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.