Avnet, Inc. (NASDAQ:AVT – Get Free Report) SVP Ken E. Arnold sold 8,000 shares of Avnet stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $54.34, for a total transaction of $434,720.00. Following the transaction, the senior vice president now owns 40,239 shares in the company, valued at approximately $2,186,587.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Avnet Price Performance
Shares of NASDAQ AVT opened at $52.20 on Friday. Avnet, Inc. has a twelve month low of $42.67 and a twelve month high of $55.46. The firm has a fifty day simple moving average of $51.37 and a 200 day simple moving average of $48.81. The company has a market capitalization of $4.72 billion, a PE ratio of 8.45 and a beta of 1.19. The company has a quick ratio of 1.05, a current ratio of 2.33 and a debt-to-equity ratio of 0.48.
Avnet (NASDAQ:AVT – Get Free Report) last announced its earnings results on Wednesday, May 1st. The company reported $1.10 earnings per share for the quarter, missing analysts’ consensus estimates of $1.11 by ($0.01). Avnet had a return on equity of 11.64% and a net margin of 2.31%. The firm had revenue of $5.65 billion for the quarter, compared to the consensus estimate of $5.71 billion. During the same period in the prior year, the business earned $2.00 EPS. Avnet’s quarterly revenue was down 13.2% on a year-over-year basis. On average, sell-side analysts forecast that Avnet, Inc. will post 5.06 EPS for the current year.
Avnet Dividend Announcement
Wall Street Analyst Weigh In
Separately, Truist Financial cut their price target on shares of Avnet from $49.00 to $48.00 and set a “hold” rating on the stock in a report on Thursday, May 2nd. Two investment analysts have rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, Avnet presently has an average rating of “Hold” and an average price target of $45.00.
Check Out Our Latest Stock Analysis on Avnet
Hedge Funds Weigh In On Avnet
A number of hedge funds have recently bought and sold shares of the company. Dimensional Fund Advisors LP increased its stake in Avnet by 2.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 6,253,451 shares of the company’s stock valued at $315,175,000 after purchasing an additional 157,709 shares in the last quarter. Allianz Asset Management GmbH increased its stake in Avnet by 4.0% in the fourth quarter. Allianz Asset Management GmbH now owns 1,083,424 shares of the company’s stock valued at $54,605,000 after purchasing an additional 41,951 shares in the last quarter. Hotchkis & Wiley Capital Management LLC increased its stake in Avnet by 26.5% in the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 484,765 shares of the company’s stock valued at $24,432,000 after purchasing an additional 101,700 shares in the last quarter. Morningstar Investment Services LLC increased its position in shares of Avnet by 109.5% during the fourth quarter. Morningstar Investment Services LLC now owns 41,897 shares of the company’s stock worth $2,123,000 after acquiring an additional 21,896 shares in the last quarter. Finally, Caxton Associates LP increased its position in shares of Avnet by 106.5% during the fourth quarter. Caxton Associates LP now owns 54,756 shares of the company’s stock worth $2,760,000 after acquiring an additional 28,243 shares in the last quarter. Institutional investors own 95.78% of the company’s stock.
About Avnet
Avnet, Inc, distributes electronic component technology. The company operates through two segments, Electronic Components and Farnell. The Electronic Components segment markets, sells, and distributes semiconductors; interconnect, passive, and electromechanical components; and other integrated components from electronic component manufacturers.
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