Lind Value II ApS Has $45.45 Million Stake in Avnet, Inc. (NASDAQ:AVT)

Lind Value II ApS trimmed its holdings in shares of Avnet, Inc. (NASDAQ:AVT) by 20.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 868,762 shares of the company’s stock after selling 224,654 shares during the quarter. Avnet accounts for about 20.2% of Lind Value II ApS’s portfolio, making the stock its 3rd largest position. Lind Value II ApS’s holdings in Avnet were worth $45,454,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Choreo LLC bought a new position in shares of Avnet during the second quarter worth about $417,000. Federated Hermes Inc. increased its position in Avnet by 46.8% during the 2nd 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. Oppenheimer Asset Management Inc. raised its holdings in Avnet by 44.9% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 58,011 shares of the company’s stock worth $2,987,000 after purchasing an additional 17,983 shares during the last quarter. Envestnet Asset Management Inc. lifted its position in shares of Avnet by 8.3% in the 2nd quarter. Envestnet Asset Management Inc. now owns 159,985 shares of the company’s stock worth $8,238,000 after purchasing an additional 12,238 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Avnet by 0.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 6,385,547 shares of the company’s stock valued at $328,790,000 after purchasing an additional 39,558 shares during the last quarter. Institutional investors own 95.78% of the company’s stock.

Avnet Trading Up 1.5 %

AVT opened at $51.97 on Wednesday. The stock has a market cap of $4.52 billion, a PE ratio of 13.60, a price-to-earnings-growth ratio of 1.01 and a beta of 1.14. The company has a quick ratio of 1.07, a current ratio of 2.25 and a debt-to-equity ratio of 0.48. Avnet, Inc. has a twelve month low of $43.62 and a twelve month high of $59.24. The company has a fifty day moving average of $53.69 and a 200-day moving average of $53.32.

Avnet (NASDAQ:AVT) last issued its quarterly 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 the consensus estimate of $5.43 billion. Avnet had a return on equity of 8.46% and a net margin of 1.51%. The business’s revenue was down 11.5% compared to the same quarter last year. During the same period last year, the business posted $1.61 EPS. On average, sell-side analysts predict that Avnet, Inc. will post 4.09 EPS for the current year.

Avnet Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th were paid a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 2.54%. The ex-dividend date of this dividend was Wednesday, December 4th. Avnet’s dividend payout ratio (DPR) is presently 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.