87,386 Shares in Avnet, Inc. (NASDAQ:AVT) Bought by Susquehanna Fundamental Investments LLC

Susquehanna Fundamental Investments LLC bought a new stake in Avnet, Inc. (NASDAQ:AVT) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 87,386 shares of the company’s stock, valued at approximately $4,333,000. Susquehanna Fundamental Investments LLC owned about 0.10% of Avnet as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its position in Avnet by 2.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 6,253,451 shares of the company’s stock valued at $315,175,000 after acquiring an additional 157,709 shares during the period. Allianz Asset Management GmbH raised its stake in shares of Avnet by 4.0% during 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 lifted its holdings in Avnet by 26.5% in the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 484,765 shares of the company’s stock worth $24,432,000 after purchasing an additional 101,700 shares during the period. Morningstar Investment Services LLC grew its position in Avnet by 109.5% in the 4th quarter. Morningstar Investment Services LLC now owns 41,897 shares of the company’s stock valued at $2,123,000 after buying an additional 21,896 shares in the last quarter. Finally, Caxton Associates LP increased its stake in Avnet by 106.5% during the 4th quarter. Caxton Associates LP now owns 54,756 shares of the company’s stock valued at $2,760,000 after buying an additional 28,243 shares during the period. 95.78% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, Truist Financial lowered their price target on Avnet from $49.00 to $48.00 and set a “hold” rating on the stock in a research report on Thursday, May 2nd. Two equities research analysts have rated the stock with a sell rating and three have issued a hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $45.00.

Avnet Stock Up 0.9 %

Shares of NASDAQ:AVT traded up $0.46 during midday trading on Monday, hitting $53.37. 121,171 shares of the stock were exchanged, compared to its average volume of 602,760. The business’s fifty day simple moving average is $52.77 and its two-hundred day simple moving average is $49.29. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.05 and a current ratio of 2.33. Avnet, Inc. has a 52-week low of $42.67 and a 52-week high of $55.46. The company has a market capitalization of $4.82 billion, a PE ratio of 8.62 and a beta of 1.16.

Avnet (NASDAQ:AVT) last announced its quarterly earnings results on Wednesday, May 1st. The company reported $1.10 EPS for the quarter, missing the consensus estimate of $1.11 by ($0.01). The business had revenue of $5.65 billion for the quarter, compared to analyst estimates of $5.71 billion. Avnet had a return on equity of 11.64% and a net margin of 2.31%. The business’s revenue for the quarter was down 13.2% compared to the same quarter last year. During the same quarter last year, the company earned $2.00 EPS. As a group, research analysts predict that Avnet, Inc. will post 5.06 earnings per share for the current fiscal year.

Avnet Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 18th. Stockholders of record on Wednesday, June 5th were given a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date was Wednesday, June 5th. Avnet’s dividend payout ratio is 20.06%.

Insider Transactions at Avnet

In other news, SVP Ken E. Arnold sold 8,000 shares of the firm’s stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $54.34, for a total value of $434,720.00. Following the sale, the senior vice president now directly owns 40,239 shares of the company’s stock, valued at $2,186,587.26. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Avnet news, CEO Philip R. Gallagher sold 30,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $53.74, for a total value of $1,612,200.00. Following the completion of the transaction, the chief executive officer now owns 139,709 shares of the company’s stock, valued at approximately $7,507,961.66. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Ken E. Arnold sold 8,000 shares of Avnet stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $54.34, for a total value of $434,720.00. Following the sale, the senior vice president now directly owns 40,239 shares in the company, valued at approximately $2,186,587.26. The disclosure for this sale can be found here. Over the last three months, insiders sold 66,532 shares of company stock worth $3,544,957. 1.30% of the stock is owned by insiders.

Avnet Profile

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.