Vanguard Personalized Indexing Management LLC Has $1.06 Million Stake in Avnet, Inc. (NASDAQ:AVT)

Vanguard Personalized Indexing Management LLC increased its position in Avnet, Inc. (NASDAQ:AVT) by 16.0% during the second quarter, HoldingsChannel reports. The institutional investor owned 20,670 shares of the company’s stock after acquiring an additional 2,851 shares during the period. Vanguard Personalized Indexing Management LLC’s holdings in Avnet were worth $1,062,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in AVT. First Eagle Investment Management LLC raised its holdings in Avnet by 9.8% during the first quarter. First Eagle Investment Management LLC now owns 210,113 shares of the company’s stock valued at $10,417,000 after buying an additional 18,700 shares in the last quarter. Allianz Asset Management GmbH increased its holdings in shares of Avnet by 4.0% during the 4th quarter. Allianz Asset Management GmbH now owns 1,083,424 shares of the company’s stock valued at $54,605,000 after acquiring an additional 41,951 shares during the last quarter. Harbor Capital Advisors Inc. raised its stake in shares of Avnet by 316.5% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 45,630 shares of the company’s stock valued at $2,349,000 after acquiring an additional 34,675 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Avnet by 5.0% in the 1st quarter. Vanguard Group Inc. now owns 10,950,336 shares of the company’s stock worth $542,918,000 after purchasing an additional 519,478 shares during the last quarter. Finally, Acadian Asset Management LLC boosted its position in Avnet by 21.2% during the first quarter. Acadian Asset Management LLC now owns 170,937 shares of the company’s stock worth $8,474,000 after purchasing an additional 29,884 shares during the period. Institutional investors and hedge funds own 95.78% of the company’s stock.

Avnet Stock Up 0.1 %

AVT opened at $52.84 on Tuesday. The business has a 50 day moving average of $52.77 and a 200-day moving average of $51.44. The stock has a market capitalization of $4.78 billion, a price-to-earnings ratio of 8.55 and a beta of 1.15. The company has a current ratio of 2.32, a quick ratio of 1.10 and a debt-to-equity ratio of 0.49. Avnet, Inc. has a 1-year low of $42.67 and a 1-year high of $55.80.

Avnet (NASDAQ:AVT) last issued its quarterly earnings results on Thursday, August 8th. The company reported $1.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.27. Avnet had a net margin of 2.10% and a return on equity of 9.92%. The firm had revenue of $5.56 billion during the quarter, compared to the consensus estimate of $5.37 billion. During the same period in the prior year, the firm earned $2.06 EPS. The business’s revenue was down 15.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Avnet, Inc. will post 4.57 earnings per share for the current year.

Avnet Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 25th. Investors of record on Wednesday, September 11th will be paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 2.50%. This is a positive change from Avnet’s previous quarterly dividend of $0.31. The ex-dividend date is Wednesday, September 11th. Avnet’s payout ratio is currently 21.36%.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Wells Fargo & Company lifted their price target on shares of Avnet from $40.00 to $45.00 and gave the company an “underweight” rating in a research report on Friday, August 9th. Truist Financial lifted their target price on shares of Avnet from $48.00 to $52.00 and gave the stock a “hold” rating in a report on Friday, August 9th. Finally, Stifel Nicolaus upped their price target on shares of Avnet from $50.00 to $55.00 and gave the company a “hold” rating in a report on Friday, August 9th. Two research analysts have rated the stock with a sell rating and three have issued a hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $48.50.

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.