Hotchkis & Wiley Capital Management LLC Has $37.49 Million Holdings in Avnet, Inc. (NASDAQ:AVT)

Hotchkis & Wiley Capital Management LLC increased its position in shares of Avnet, Inc. (NASDAQ:AVT) by 204.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 690,270 shares of the company’s stock after acquiring an additional 463,660 shares during the period. Hotchkis & Wiley Capital Management LLC’s holdings in Avnet were worth $37,489,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the company. Fifth Third Bancorp increased its position in shares of Avnet by 35.2% during the second quarter. Fifth Third Bancorp now owns 822 shares of the company’s stock valued at $42,000 after purchasing an additional 214 shares during the period. Capital Performance Advisors LLP acquired a new position in Avnet during the 3rd quarter worth approximately $51,000. nVerses Capital LLC purchased a new position in Avnet in the 2nd quarter valued at about $77,000. GAMMA Investing LLC raised its position in shares of Avnet by 68.4% in the 2nd quarter. GAMMA Investing LLC now owns 1,527 shares of the company’s stock valued at $79,000 after purchasing an additional 620 shares in the last quarter. Finally, Hexagon Capital Partners LLC increased its position in Avnet by 90.6% in the second quarter. Hexagon Capital Partners LLC now owns 1,712 shares of the company’s stock worth $88,000 after buying an additional 814 shares during the period. Hedge funds and other institutional investors own 95.78% of the company’s stock.

Avnet Stock Performance

Shares of AVT opened at $55.80 on Tuesday. The company has a market capitalization of $4.85 billion, a PE ratio of 14.61, a PEG ratio of 1.02 and a beta of 1.14. Avnet, Inc. has a 52 week low of $43.62 and a 52 week high of $59.24. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.07 and a current ratio of 2.25. The company’s 50 day moving average price is $54.34 and its 200 day moving average price is $53.37.

Avnet (NASDAQ:AVT) last announced 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. The firm had revenue of $5.60 billion during the quarter, compared to analyst estimates of $5.43 billion. Avnet had a net margin of 1.51% and a return on equity of 8.46%. The company’s revenue for the quarter was down 11.5% compared to the same quarter last year. During the same period in the prior year, the business earned $1.61 EPS. Research analysts expect that Avnet, Inc. will post 4.09 EPS for the current fiscal year.

Avnet Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th will be given a dividend of $0.33 per share. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.37%. Avnet’s dividend payout ratio (DPR) is currently 34.56%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on AVT shares. Truist Financial upped their target price on Avnet from $48.00 to $52.00 and gave the stock a “hold” rating in a research report on Friday, August 9th. Wells Fargo & Company lifted their target price on Avnet from $40.00 to $45.00 and gave the company an “underweight” rating in a research note on Friday, August 9th. Finally, Stifel Nicolaus increased their price target on Avnet from $50.00 to $55.00 and gave the company a “hold” rating in a research report on Friday, August 9th.

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.