GSA Capital Partners LLP Makes New $676,000 Investment in Avnet, Inc. (NASDAQ:AVT)

GSA Capital Partners LLP acquired a new stake in Avnet, Inc. (NASDAQ:AVT) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 12,443 shares of the company’s stock, valued at approximately $676,000.

Several other institutional investors and hedge funds have also modified their holdings of AVT. US Bancorp DE raised its holdings in Avnet by 1.9% in the 1st quarter. US Bancorp DE now owns 13,124 shares of the company’s stock valued at $651,000 after acquiring an additional 243 shares during the last quarter. State Board of Administration of Florida Retirement System increased its stake in Avnet by 1.5% in the first quarter. State Board of Administration of Florida Retirement System now owns 116,061 shares of the company’s stock valued at $5,246,000 after purchasing an additional 1,687 shares during the last quarter. Vanguard Group Inc. lifted its position in Avnet by 5.0% during the first quarter. Vanguard Group Inc. now owns 10,950,336 shares of the company’s stock worth $542,918,000 after buying an additional 519,478 shares during the period. Acadian Asset Management LLC boosted its stake in Avnet by 21.2% in the 1st quarter. Acadian Asset Management LLC now owns 170,937 shares of the company’s stock worth $8,474,000 after buying an additional 29,884 shares during the last quarter. Finally, Bahl & Gaynor Inc. grew its holdings in Avnet by 7.4% in the 1st quarter. Bahl & Gaynor Inc. now owns 388,088 shares of the company’s stock valued at $19,241,000 after buying an additional 26,665 shares during the period. Hedge funds and other institutional investors own 95.78% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on AVT. Stifel Nicolaus increased their price objective on shares of Avnet from $50.00 to $55.00 and gave the stock a “hold” rating in a report on Friday, August 9th. Wells Fargo & Company increased their price target on shares of Avnet from $40.00 to $45.00 and gave the stock an “underweight” rating in a research note on Friday, August 9th. Finally, Truist Financial boosted their price objective on shares of Avnet from $48.00 to $52.00 and gave the company a “hold” rating in a research note on Friday, August 9th.

Avnet Stock Performance

NASDAQ AVT opened at $53.07 on Monday. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.25 and a quick ratio of 1.07. Avnet, Inc. has a 1-year low of $43.62 and a 1-year high of $59.24. The firm has a market capitalization of $4.61 billion, a P/E ratio of 13.89, a P/E/G ratio of 0.99 and a beta of 1.16. The business’s 50-day simple moving average is $53.73 and its 200-day simple moving average is $53.19.

Avnet (NASDAQ:AVT) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates of $0.86 by $0.06. Avnet had a net margin of 1.51% and a return on equity of 8.46%. The firm had revenue of $5.60 billion for the quarter, compared to analysts’ expectations of $5.43 billion. During the same period in the previous year, the company posted $1.61 earnings per share. Avnet’s revenue was down 11.5% compared to the same quarter last year. Equities analysts predict that Avnet, Inc. will post 4.09 EPS for the current year.

Avnet Company 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.