State of New Jersey Common Pension Fund D Has $1.99 Million Stock Holdings in Avnet, Inc. $AVT

State of New Jersey Common Pension Fund D raised its holdings in shares of Avnet, Inc. (NASDAQ:AVT) by 1.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 37,541 shares of the company’s stock after purchasing an additional 432 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Avnet were worth $1,993,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. MassMutual Private Wealth & Trust FSB lifted its holdings in Avnet by 109.5% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 528 shares of the company’s stock valued at $28,000 after purchasing an additional 276 shares during the last quarter. TD Private Client Wealth LLC lifted its holdings in Avnet by 43.0% during the 1st quarter. TD Private Client Wealth LLC now owns 818 shares of the company’s stock valued at $39,000 after purchasing an additional 246 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Avnet during the 1st quarter valued at $49,000. SVB Wealth LLC acquired a new stake in shares of Avnet during the first quarter worth $54,000. Finally, Caitong International Asset Management Co. Ltd lifted its holdings in shares of Avnet by 877.6% during the first quarter. Caitong International Asset Management Co. Ltd now owns 1,310 shares of the company’s stock worth $63,000 after buying an additional 1,176 shares in the last quarter. Institutional investors and hedge funds own 95.78% of the company’s stock.

Analysts Set New Price Targets

AVT has been the subject of a number of research reports. Zacks Research raised Avnet from a “strong sell” rating to a “hold” rating in a report on Monday, October 20th. Truist Financial lifted their target price on Avnet from $54.00 to $55.00 and gave the stock a “hold” rating in a report on Thursday. Weiss Ratings reissued a “hold (c+)” rating on shares of Avnet in a report on Wednesday, October 8th. Finally, Bank of America lifted their target price on Avnet from $48.00 to $50.00 and gave the stock an “underperform” rating in a report on Monday, August 11th. Three analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus target price of $49.33.

Avnet Stock Down 0.9%

AVT stock opened at $48.22 on Friday. The company has a market cap of $4.01 billion, a PE ratio of 17.99, a price-to-earnings-growth ratio of 0.36 and a beta of 1.06. The business has a 50-day simple moving average of $52.54 and a 200 day simple moving average of $52.14. Avnet, Inc. has a 52 week low of $39.22 and a 52 week high of $57.68. The company has a quick ratio of 1.16, a current ratio of 2.36 and a debt-to-equity ratio of 0.58.

Avnet (NASDAQ:AVT) last posted its quarterly earnings results on Wednesday, October 29th. The company reported $0.84 EPS for the quarter, beating analysts’ consensus estimates of $0.81 by $0.03. The business had revenue of $5.90 billion during the quarter, compared to the consensus estimate of $5.73 billion. Avnet had a return on equity of 5.91% and a net margin of 1.04%.Avnet’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.92 earnings per share. Avnet has set its Q2 2026 guidance at 0.900-1.000 EPS. Sell-side analysts anticipate that Avnet, Inc. will post 3.41 EPS for the current fiscal year.

Avnet Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 26th. Investors of record on Wednesday, September 17th were paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 2.9%. This is a boost from Avnet’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend was Wednesday, September 17th. Avnet’s payout ratio is presently 51.28%.

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.