Wedge Capital Management L L P NC Boosts Stock Position in Avnet, Inc. $AVT

Wedge Capital Management L L P NC boosted its holdings in shares of Avnet, Inc. (NASDAQ:AVT) by 10.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 87,259 shares of the company’s stock after buying an additional 8,493 shares during the period. Wedge Capital Management L L P NC owned approximately 0.11% of Avnet worth $4,195,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. GSA Capital Partners LLP acquired a new position in Avnet in the 3rd quarter worth about $616,000. Candriam S.C.A. purchased a new position in Avnet during the third quarter worth about $2,064,000. Legal & General Group Plc boosted its holdings in Avnet by 6.2% in the 2nd quarter. Legal & General Group Plc now owns 228,866 shares of the company’s stock valued at $12,148,000 after purchasing an additional 13,422 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Avnet by 6.4% in the 2nd quarter. JPMorgan Chase & Co. now owns 470,565 shares of the company’s stock valued at $24,978,000 after buying an additional 28,467 shares during the period. Finally, Polaris Capital Management LLC purchased a new stake in shares of Avnet during the 3rd quarter valued at approximately $1,861,000. Hedge funds and other institutional investors own 95.78% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on AVT shares. Weiss Ratings cut Avnet from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, March 19th. Wall Street Zen upgraded shares of Avnet from a “hold” rating to a “buy” rating in a research report on Saturday, January 31st. Wells Fargo & Company lifted their target price on Avnet from $43.00 to $48.00 and gave the stock an “underweight” rating in a research report on Thursday, January 29th. Finally, Truist Financial raised their price target on Avnet from $55.00 to $65.00 and gave the stock a “hold” rating in a research note on Thursday, January 29th. Three investment analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Avnet presently has an average rating of “Reduce” and an average price target of $54.33.

Avnet Stock Performance

Shares of AVT stock opened at $59.73 on Monday. The company has a market capitalization of $4.89 billion, a P/E ratio of 24.48, a price-to-earnings-growth ratio of 0.44 and a beta of 0.91. The company has a current ratio of 2.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.50. The business’s 50 day moving average is $61.54 and its two-hundred day moving average is $53.91. Avnet, Inc. has a twelve month low of $39.22 and a twelve month high of $68.29.

Avnet (NASDAQ:AVT) last posted its quarterly earnings data on Wednesday, January 28th. The company reported $1.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.10. Avnet had a net margin of 0.90% and a return on equity of 6.08%. The firm had revenue of $6.32 billion for the quarter, compared to analyst estimates of $6.03 billion. During the same period last year, the firm posted $0.87 EPS. Avnet’s quarterly revenue was up 11.6% on a year-over-year basis. Avnet has set its Q3 2026 guidance at 1.200-1.300 EPS. Equities analysts forecast that Avnet, Inc. will post 3.41 EPS for the current year.

Avnet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 18th. Investors of record on Wednesday, March 4th were paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend was Wednesday, March 4th. Avnet’s dividend payout ratio is presently 57.38%.

Avnet Profile

Avnet, Inc (NASDAQ: AVT) is a global technology distributor and solutions provider specializing in the sourcing, design, and supply chain management of electronic components and embedded systems. The company offers a broad portfolio of semiconductors, interconnect, passive and electromechanical components, as well as embedded hardware and software, cloud solutions, and Internet of Things (IoT) services. Avnet’s offerings aim to support customers through every stage of the product lifecycle, from initial prototype and design to production and end-of-life management.

Founded in 1921 by Charles Avnet, the company has evolved from a regional radio parts supplier into a multinational enterprise.