Avnet, Inc. (NASDAQ:AVT) Shares Bought by Tidal Investments LLC

Tidal Investments LLC lifted its holdings in shares of Avnet, Inc. (NASDAQ:AVT) by 9.0% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 13,547 shares of the company’s stock after purchasing an additional 1,118 shares during the quarter. Tidal Investments LLC’s holdings in Avnet were worth $736,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. FMR LLC lifted its holdings in Avnet by 24.7% during the 3rd quarter. FMR LLC now owns 576,794 shares of the company’s stock worth $31,326,000 after buying an additional 114,217 shares in the last quarter. Envestnet Asset Management Inc. increased its position in shares of Avnet by 8.3% during the second quarter. Envestnet Asset Management Inc. now owns 159,985 shares of the company’s stock worth $8,238,000 after acquiring an additional 12,238 shares during the period. Kendall Capital Management raised its stake in shares of Avnet by 21.2% in the second quarter. Kendall Capital Management now owns 118,843 shares of the company’s stock valued at $6,119,000 after acquiring an additional 20,810 shares in the last quarter. Federated Hermes Inc. boosted its holdings in Avnet by 46.8% in the second quarter. Federated Hermes Inc. now owns 40,231 shares of the company’s stock valued at $2,071,000 after purchasing an additional 12,832 shares during the period. Finally, Great Lakes Advisors LLC boosted its holdings in Avnet by 2,607.9% in the second quarter. Great Lakes Advisors LLC now owns 163,449 shares of the company’s stock valued at $8,416,000 after purchasing an additional 157,413 shares during the period. Hedge funds and other institutional investors own 95.78% of the company’s stock.

Avnet Price Performance

Shares of NASDAQ AVT opened at $53.07 on Friday. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.25 and a quick ratio of 1.07. The company has a market cap of $4.61 billion, a price-to-earnings ratio of 13.89, a price-to-earnings-growth ratio of 1.01 and a beta of 1.14. The stock’s 50-day moving average is $54.43 and its two-hundred day moving average is $53.38. Avnet, Inc. has a 1-year low of $43.62 and a 1-year high of $59.24.

Avnet (NASDAQ:AVT) last released its earnings results on Wednesday, October 30th. The company reported $0.92 earnings per share for the quarter, topping 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 analyst estimates of $5.43 billion. During the same period in the prior year, the firm earned $1.61 earnings per share. The business’s quarterly revenue was down 11.5% compared to the same quarter last year. Analysts forecast that Avnet, Inc. will post 4.09 EPS for the current fiscal year.

Avnet Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th were paid a dividend of $0.33 per share. The ex-dividend date was Wednesday, December 4th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.49%. Avnet’s payout ratio is currently 34.55%.

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.